Cool (NYSE:CLCO) Sees Strong Trading Volume After Dividend Announcement

Shares of Cool Company Ltd. (NYSE:CLCO – Get Rating) saw unusually-high trading volume on Tuesday following a dividend announcement from the company. Approximately 137,130 shares were traded during mid-day trading, an increase of 28% from the previous session’s volume of 107,040 shares.The stock last traded at $12.54 and had previously closed at $12.06.

The newly announced dividend which will be paid on Friday, June 9th. Shareholders of record on Thursday, June 1st will be given a $0.41 dividend. The ex-dividend date is Wednesday, May 31st. This represents a $1.64 dividend on an annualized basis and a yield of 12.29%.

Analysts Set New Price Targets

Separately, B. Riley initiated coverage on Cool in a research report on Tuesday, April 25th. They issued a “buy” rating for the company.

Cool Price Performance

Institutional Investors Weigh In On Cool

Several large investors have recently modified their holdings of CLCO. FMR LLC purchased a new stake in shares of Cool during the first quarter valued at $25,996,000. Mirabella Financial Services LLP purchased a new stake in shares of Cool during the first quarter valued at $23,543,000. Wexford Capital LP purchased a new stake in shares of Cool during the first quarter valued at $6,961,000. Citigroup Inc. purchased a new stake in shares of Cool during the first quarter valued at $6,017,000. Finally, Arrowstreet Capital Limited Partnership purchased a new stake in shares of Cool during the first quarter valued at $4,827,000.

Cool Company Profile

(Get Rating)

Cool Company Ltd. is an owner, operator and manager of fuel-efficient liquefied natural gas carriers. It provides charterers and third-party LNG vessel owners with modern and flexible management and transportation solutions. Cool Company Ltd. is based in Bermuda.