Renaissance Group LLC Increases Position in Golar LNG Limited (NASDAQ:GLNG)

Renaissance Group LLC boosted its stake in shares of Golar LNG Limited (NASDAQ:GLNG) by 20.9% during the first quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 254,851 shares of the shipping company’s stock after purchasing an additional 44,077 shares during the period. Renaissance Group LLC owned approximately 0.24% of Golar LNG worth $5,505,000 at the end of the most recent reporting period.

A number of other large investors also recently bought and sold shares of the stock. Raymond James & Associates grew its holdings in Golar LNG by 38.3% during the 1st quarter. Raymond James & Associates now owns 14,041 shares of the shipping company’s stock worth $348,000 after acquiring an additional 3,892 shares in the last quarter. Cambridge Investment Research Advisors Inc. bought a new position in shares of Golar LNG in the 1st quarter worth about $1,029,000. Citigroup Inc. lifted its position in shares of Golar LNG by 102.0% in the 1st quarter. Citigroup Inc. now owns 12,232 shares of the shipping company’s stock worth $303,000 after buying an additional 630,818 shares during the last quarter. Vanguard Group Inc. lifted its position in shares of Golar LNG by 3.2% in the 1st quarter. Vanguard Group Inc. now owns 549,152 shares of the shipping company’s stock worth $13,609,000 after buying an additional 17,040 shares during the last quarter. Finally, Cohanzick Management LLC bought a new position in shares of Golar LNG in the 1st quarter worth about $37,000. Hedge funds and other institutional investors own 89.67% of the company’s stock.

Analyst Upgrades and Downgrades

A number of research firms have recently issued reports on GLNG. StockNews.com assumed coverage on shares of Golar LNG in a research report on Thursday, August 17th. They issued a “hold” rating on the stock. Wolfe Research downgraded shares of Golar LNG from an “outperform” rating to a “peer perform” rating in a research report on Wednesday, August 16th.

Golar LNG Trading Down 0.4 %

Shares of NASDAQ GLNG traded down $0.09 during mid-day trading on Friday, hitting $22.49. The company’s stock had a trading volume of 571,827 shares, compared to its average volume of 983,274. The stock has a market cap of $1.81 billion, a price-to-earnings ratio of 16.29 and a beta of 0.73. The company has a debt-to-equity ratio of 0.34, a current ratio of 2.16 and a quick ratio of 2.16. Golar LNG Limited has a one year low of $19.62 and a one year high of $28.87. The company’s fifty day simple moving average is $22.78 and its 200-day simple moving average is $22.02.

Golar LNG Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, August 29th. Investors of record on Monday, August 21st were paid a dividend of $0.25 per share. This represents a $1.00 annualized dividend and a yield of 4.45%. The ex-dividend date of this dividend was Friday, August 18th.

Golar LNG Profile

Golar LNG Limited designs, owns, and operates marine infrastructure for the liquefaction of natural gas. The company operates through three segments: FLNG, Corporate and Other, and Shipping. It also engages in the regasification, storage, and offloading of liquefied natural gas (LNG); operation of floating liquefaction natural gas (FLNG) vessels; operation of the transportation of LNG carriers; and vessel management.