Putnam Investments LLC Cuts Stock Position in Golar LNG Limited (NASDAQ:GLNG)

Putnam Investments LLC decreased its holdings in shares of Golar LNG Limited (NASDAQ:GLNG – Get Rating) by 1.8% in the third quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 39,768 shares of the shipping company’s stock after selling 722 shares during the quarter. Putnam Investments LLC’s holdings in Golar LNG were worth $991,000 as of its most recent SEC filing.

A number of other large investors have also modified their holdings of GLNG. Goldman Sachs Group Inc. grew its holdings in shares of Golar LNG by 324.9% during the second quarter. Goldman Sachs Group Inc. now owns 2,582,678 shares of the shipping company’s stock worth $58,756,000 after buying an additional 1,974,914 shares in the last quarter. Permian Investment Partners LP purchased a new stake in shares of Golar LNG during the first quarter worth $30,655,000. Renaissance Technologies LLC grew its holdings in shares of Golar LNG by 665.7% during the second quarter. Renaissance Technologies LLC now owns 1,295,492 shares of the shipping company’s stock worth $29,472,000 after buying an additional 1,126,292 shares in the last quarter. Citigroup Inc. grew its holdings in shares of Golar LNG by 102.0% during the first quarter. Citigroup Inc. now owns 12,232 shares of the shipping company’s stock worth $303,000 after buying an additional 630,818 shares in the last quarter. Finally, FMR LLC grew its holdings in shares of Golar LNG by 11.5% during the second quarter. FMR LLC now owns 4,573,821 shares of the shipping company’s stock worth $104,054,000 after buying an additional 470,416 shares in the last quarter. Hedge funds and other institutional investors own 72.45% of the company’s stock.

Golar LNG Trading Down 2.1 %

Shares of GLNG opened at $21.74 on Tuesday. The company has a current ratio of 2.57, a quick ratio of 2.57 and a debt-to-equity ratio of 0.35. Golar LNG Limited has a 12-month low of $16.82 and a 12-month high of $30.66. The firm has a 50-day moving average price of $22.80 and a 200 day moving average price of $24.48. The firm has a market capitalization of $2.35 billion, a P/E ratio of 3.24 and a beta of 0.67.

Analysts Set New Price Targets

Separately, Deutsche Bank Aktiengesellschaft upped their target price on shares of Golar LNG from $17.00 to $33.00 and gave the stock a “buy” rating in a report on Thursday, November 17th. One analyst has rated the stock with a hold rating and six have given a buy rating to the stock. According to MarketBeat, Golar LNG currently has an average rating of “Moderate Buy” and an average target price of $31.88.

Golar LNG Profile

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Golar LNG Ltd. owns and operates liquefied natural gas carriers, floating storage, and regasification unit. It operates through the following segments: Vessel Operations, FLNG, and Power. The Vessel Operations segment operates and charter out vessels on fixed terms to customers. The FLNG segment provides integrated upstream and midstream solution for the development of gas reserves to LNG.