PDT Partners LLC Sells 19,648 Shares of Golar LNG Limited (NASDAQ:GLNG)

PDT Partners LLC trimmed its position in shares of Golar LNG Limited (NASDAQ:GLNG) by 24.2% during the 3rd quarter, Holdings Channel reports. The firm owned 61,589 shares of the shipping company’s stock after selling 19,648 shares during the period. PDT Partners LLC’s holdings in Golar LNG were worth $2,264,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also recently modified their holdings of the company. Blue Trust Inc. increased its stake in Golar LNG by 105.1% in the 3rd quarter. Blue Trust Inc. now owns 1,372 shares of the shipping company’s stock worth $50,000 after buying an additional 703 shares in the last quarter. Sound Income Strategies LLC purchased a new stake in shares of Golar LNG during the third quarter worth about $52,000. Lowe Wealth Advisors LLC bought a new stake in Golar LNG during the 2nd quarter valued at approximately $45,000. CWM LLC lifted its holdings in Golar LNG by 830.9% in the 3rd quarter. CWM LLC now owns 1,657 shares of the shipping company’s stock worth $61,000 after purchasing an additional 1,479 shares in the last quarter. Finally, EverSource Wealth Advisors LLC boosted its stake in Golar LNG by 206.2% in the 2nd quarter. EverSource Wealth Advisors LLC now owns 1,727 shares of the shipping company’s stock worth $54,000 after purchasing an additional 1,163 shares during the period. 92.21% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

A number of brokerages recently weighed in on GLNG. StockNews.com upgraded shares of Golar LNG to a “sell” rating in a research report on Wednesday, November 13th. Deutsche Bank Aktiengesellschaft increased their price objective on shares of Golar LNG from $43.00 to $56.00 and gave the company a “buy” rating in a report on Friday, August 16th. Stifel Nicolaus reduced their target price on Golar LNG from $55.00 to $53.00 and set a “buy” rating on the stock in a report on Friday, August 16th. Finally, Fearnley Fonds lowered Golar LNG from a “strong-buy” rating to a “hold” rating in a research note on Wednesday, November 13th. One investment analyst has rated the stock with a sell rating, one has issued a hold rating and four have assigned a buy rating to the stock. According to data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average price target of $49.63.

Golar LNG Stock Performance

Shares of NASDAQ:GLNG opened at $39.37 on Friday. The firm has a fifty day simple moving average of $37.33 and a two-hundred day simple moving average of $33.36. Golar LNG Limited has a 52 week low of $19.94 and a 52 week high of $41.54. The company has a quick ratio of 1.28, a current ratio of 1.24 and a debt-to-equity ratio of 0.31. The stock has a market capitalization of $4.11 billion, a P/E ratio of 281.21 and a beta of 0.58.

Golar LNG Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Monday, December 2nd. Shareholders of record on Monday, November 25th will be paid a dividend of $0.25 per share. The ex-dividend date of this dividend is Monday, November 25th. This represents a $1.00 annualized dividend and a yield of 2.54%. Golar LNG’s payout ratio is currently 714.29%.

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.