The Manufacturers Life Insurance Company Trims Stock Holdings in Golar LNG Limited (NASDAQ:GLNG)

The Manufacturers Life Insurance Company lowered its stake in shares of Golar LNG Limited (NASDAQ:GLNG) by 2.5% during the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 34,685 shares of the shipping company’s stock after selling 895 shares during the period. The Manufacturers Life Insurance Company’s holdings in Golar LNG were worth $1,275,000 at the end of the most recent reporting period.

A number of other large investors have also recently made changes to their positions in GLNG. Blue Trust Inc. lifted its holdings in Golar LNG by 105.1% during the 3rd quarter. Blue Trust Inc. now owns 1,372 shares of the shipping company’s stock worth $50,000 after purchasing an additional 703 shares in the last quarter. Sound Income Strategies LLC purchased a new position in shares of Golar LNG during the 3rd quarter valued at $52,000. EverSource Wealth Advisors LLC grew its position in Golar LNG by 206.2% during the second quarter. EverSource Wealth Advisors LLC now owns 1,727 shares of the shipping company’s stock worth $54,000 after buying an additional 1,163 shares in the last quarter. CWM LLC raised its holdings in shares of Golar LNG by 830.9% in the 3rd quarter. CWM LLC now owns 1,657 shares of the shipping company’s stock valued at $61,000 after acquiring an additional 1,479 shares in the last quarter. Finally, Quarry LP grew its holdings in shares of Golar LNG by 1,559.3% during the second quarter. Quarry LP now owns 2,323 shares of the shipping company’s stock worth $73,000 after purchasing an additional 2,183 shares in the last quarter. 92.21% of the stock is owned by institutional investors.

Golar LNG Stock Up 2.0 %

NASDAQ:GLNG opened at $43.54 on Thursday. The company has a debt-to-equity ratio of 0.41, a quick ratio of 1.28 and a current ratio of 1.55. The firm has a market cap of $4.55 billion, a P/E ratio of 311.00 and a beta of 0.60. Golar LNG Limited has a fifty-two week low of $19.94 and a fifty-two week high of $43.95. The firm has a 50-day simple moving average of $38.15 and a two-hundred day simple moving average of $34.18.

Golar LNG Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Monday, December 2nd. Investors of record on Monday, November 25th were given a dividend of $0.25 per share. The ex-dividend date of this dividend was Monday, November 25th. This represents a $1.00 annualized dividend and a dividend yield of 2.30%. Golar LNG’s dividend payout ratio (DPR) is presently 714.29%.

Analyst Upgrades and Downgrades

A number of research firms recently commented on GLNG. StockNews.com raised Golar LNG to a “sell” rating in a research note on Monday. Fearnley Fonds cut shares of Golar LNG from a “strong-buy” rating to a “hold” rating in a research note on Wednesday, November 13th. Stifel Nicolaus reduced their price objective on Golar LNG from $55.00 to $53.00 and set a “buy” rating on the stock in a research note on Friday, August 16th. Finally, Deutsche Bank Aktiengesellschaft boosted their target price on Golar LNG from $43.00 to $56.00 and gave the company a “buy” rating in a research note on Friday, August 16th. One investment analyst has rated the stock with a sell rating, one has given a hold rating and four have assigned a buy rating to the company’s stock. According to MarketBeat.com, Golar LNG presently has a consensus rating of “Moderate Buy” and a consensus price target of $49.63.

Golar LNG Company Profile

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