BlackRock Fund Advisors boosted its position in shares of Golar LNG Limited (NASDAQ:GLNG) by 8.3% during the third quarter, Holdings Channel reports. The fund owned 2,243,766 shares of the company’s stock after buying an additional 172,388 shares during the period. BlackRock Fund Advisors owned approximately 2.49% of Golar LNG Limited worth $47,568,000 as of its most recent SEC filing.
Several other hedge funds and other institutional investors have also recently modified their holdings of the stock. Loews Corp bought a new position in Golar LNG Limited during the second quarter valued at about $162,000. Fifth Third Bancorp raised its position in Golar LNG Limited by 21.0% in the second quarter. Fifth Third Bancorp now owns 7,500 shares of the company’s stock valued at $116,000 after buying an additional 1,300 shares in the last quarter. Alliancebernstein L.P. raised its position in Golar LNG Limited by 136.3% in the second quarter. Alliancebernstein L.P. now owns 130,400 shares of the company’s stock valued at $2,021,000 after buying an additional 75,212 shares in the last quarter. CNA Financial Corp raised its position in Golar LNG Limited by 203.6% in the second quarter. CNA Financial Corp now owns 86,663 shares of the company’s stock valued at $1,343,000 after buying an additional 58,115 shares in the last quarter. Finally, BlackRock Investment Management LLC raised its position in Golar LNG Limited by 739.0% in the second quarter. BlackRock Investment Management LLC now owns 364,325 shares of the company’s stock valued at $5,647,000 after buying an additional 320,903 shares in the last quarter. Institutional investors and hedge funds own 78.54% of the company’s stock.
Shares of Golar LNG Limited (NASDAQ:GLNG) traded down 2.48% during trading on Friday, reaching $27.14. The company’s stock had a trading volume of 916,568 shares. Golar LNG Limited has a 12 month low of $12.50 and a 12 month high of $27.78. The firm’s market cap is $2.66 billion. The company’s 50 day moving average price is $24.40 and its 200 day moving average price is $21.84.
The firm also recently declared a quarterly dividend, which was paid on Friday, January 6th. Stockholders of record on Wednesday, December 14th were issued a dividend of $0.05 per share. The ex-dividend date of this dividend was Monday, December 12th. This represents a $0.20 dividend on an annualized basis and a dividend yield of 0.72%.
GLNG has been the subject of several recent analyst reports. ABN Amro upgraded Golar LNG Limited from a “sell” rating to a “hold” rating in a research note on Monday, October 3rd. Wells Fargo & Company restated a “buy” rating on shares of Golar LNG Limited in a report on Wednesday, October 5th. Cowen and Company decreased their target price on Golar LNG Limited from $57.00 to $45.00 and set an “outperform” rating on the stock in a report on Thursday, October 20th. Seaport Global Securities restated a “buy” rating and set a $35.00 target price on shares of Golar LNG Limited in a report on Wednesday, November 23rd. Finally, Bank of America Corp restated a “buy” rating on shares of Golar LNG Limited in a report on Thursday, December 1st. Two investment analysts have rated the stock with a sell rating, two have assigned a hold rating and ten have assigned a buy rating to the company. The company presently has an average rating of “Buy” and an average price target of $27.78.
Golar LNG Limited Company Profile
Golar LNG Limited is a midstream liquefied natural gas (LNG) company engaged primarily in the transportation, regasification, liquefaction and trading of LNG. The Company is engaged in the acquisition, ownership, operation and chartering of LNG carriers and Floating Storage Regasification Unit (FSRUs) through its subsidiaries and affiliates, and the development of LNG projects, such as floating LNGs (FLNGs).
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