Discovery Capital Management LLC CT Makes New Investment in Golar LNG Limited (NASDAQ:GLNG)

Discovery Capital Management LLC CT acquired a new stake in shares of Golar LNG Limited (NASDAQ:GLNG) in the fourth quarter, Holdings Channel.com reports. The institutional investor acquired 418,700 shares of the shipping company’s stock, valued at approximately $17,719,000. Golar LNG makes up about 1.2% of Discovery Capital Management LLC CT’s portfolio, making the stock its 26th largest holding.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Clearline Capital LP bought a new position in Golar LNG during the 3rd quarter valued at $36,865,000. Brookfield Corp ON lifted its position in shares of Golar LNG by 180.8% during the third quarter. Brookfield Corp ON now owns 849,959 shares of the shipping company’s stock valued at $31,244,000 after purchasing an additional 547,253 shares in the last quarter. Luxor Capital Group LP purchased a new position in Golar LNG during the third quarter worth about $10,286,000. ARS Investment Partners LLC grew its position in Golar LNG by 1,158.1% in the 4th quarter. ARS Investment Partners LLC now owns 213,876 shares of the shipping company’s stock worth $9,051,000 after purchasing an additional 196,876 shares in the last quarter. Finally, Philadelphia Financial Management of San Francisco LLC increased its stake in Golar LNG by 32.8% in the 3rd quarter. Philadelphia Financial Management of San Francisco LLC now owns 761,194 shares of the shipping company’s stock valued at $27,981,000 after buying an additional 187,924 shares during the last quarter. 92.21% of the stock is owned by institutional investors.

Golar LNG Price Performance

NASDAQ:GLNG opened at $37.99 on Tuesday. The company has a market capitalization of $3.97 billion, a P/E ratio of 271.38 and a beta of 0.78. The business has a fifty day simple moving average of $38.55 and a two-hundred day simple moving average of $38.79. Golar LNG Limited has a 1 year low of $23.74 and a 1 year high of $44.36.

Golar LNG Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, March 18th. Investors of record on Tuesday, March 11th were paid a $0.25 dividend. This represents a $1.00 dividend on an annualized basis and a yield of 2.63%. The ex-dividend date was Tuesday, March 11th. Golar LNG’s dividend payout ratio is currently 208.33%.

Wall Street Analysts Forecast Growth

A number of brokerages have recently weighed in on GLNG. StockNews.com upgraded Golar LNG to a “sell” rating in a research note on Thursday, March 20th. Fearnley Fonds upgraded Golar LNG from a “hold” rating to a “strong-buy” rating in a research note on Wednesday, March 19th. DNB Markets lowered Golar LNG from a “buy” rating to a “hold” rating in a research report on Wednesday, February 19th. Finally, Stifel Nicolaus increased their price target on shares of Golar LNG from $53.00 to $55.00 and gave the company a “buy” rating in a research report on Tuesday, December 24th. One analyst has rated the stock with a sell rating, one has issued a hold rating, four have issued a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat.com, Golar LNG presently has a consensus rating of “Moderate Buy” and a consensus target price of $50.13.

Golar LNG 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.