Granite Point Capital Management L.P. boosted its stake in shares of Golar LNG Limited (NASDAQ:GLNG) by 383.3% in the third quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 145,000 shares of the shipping company’s stock after buying an additional 115,000 shares during the period. Golar LNG accounts for about 0.7% of Granite Point Capital Management L.P.’s investment portfolio, making the stock its 12th biggest holding. Granite Point Capital Management L.P. owned approximately 0.14% of Golar LNG worth $3,278,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors also recently bought and sold shares of GLNG. Quantbot Technologies LP lifted its holdings in Golar LNG by 71.0% during the second quarter. Quantbot Technologies LP now owns 6,233 shares of the shipping company’s stock worth $138,000 after buying an additional 2,589 shares during the period. Sei Investments Co. lifted its holdings in Golar LNG by 19.3% during the second quarter. Sei Investments Co. now owns 6,511 shares of the shipping company’s stock worth $145,000 after buying an additional 1,054 shares during the period. PNC Financial Services Group Inc. lifted its holdings in Golar LNG by 104.0% during the second quarter. PNC Financial Services Group Inc. now owns 7,552 shares of the shipping company’s stock worth $168,000 after buying an additional 3,850 shares during the period. Seven Eight Capital LP lifted its holdings in Golar LNG by 745.6% during the second quarter. Seven Eight Capital LP now owns 8,870 shares of the shipping company’s stock worth $197,000 after buying an additional 7,821 shares during the period. Finally, Fort Washington Investment Advisors Inc. OH lifted its holdings in Golar LNG by 10.3% during the second quarter. Fort Washington Investment Advisors Inc. OH now owns 9,600 shares of the shipping company’s stock worth $214,000 after buying an additional 900 shares during the period. Institutional investors own 82.85% of the company’s stock.

GLNG has been the subject of a number of analyst reports. Citigroup lowered their target price on Golar LNG from $28.00 to $26.00 and set a “buy” rating for the company in a report on Thursday, August 17th. Stifel Nicolaus restated a “buy” rating and set a $36.00 target price on shares of Golar LNG in a report on Monday, August 21st. Cowen restated an “outperform” rating and set a $45.00 target price on shares of Golar LNG in a report on Thursday, August 31st. Morgan Stanley restated an “overweight” rating and set a $31.00 target price (down previously from $32.00) on shares of Golar LNG in a report on Friday, September 1st. Finally, ValuEngine downgraded Golar LNG from a “hold” rating to a “sell” rating in a research report on Friday, September 1st. Two research analysts have rated the stock with a sell rating, two have issued a hold rating and six have issued a buy rating to the stock. Golar LNG currently has a consensus rating of “Hold” and an average price target of $34.60.

Golar LNG Limited (GLNG) opened at $24.05 on Wednesday. The company has a current ratio of 0.41, a quick ratio of 0.41 and a debt-to-equity ratio of 0.77. Golar LNG Limited has a 12-month low of $19.32 and a 12-month high of $29.18.

The firm also recently declared a quarterly dividend, which will be paid on Thursday, January 4th. Stockholders of record on Thursday, December 14th will be given a dividend of $0.05 per share. This represents a $0.20 dividend on an annualized basis and a dividend yield of 0.83%. The ex-dividend date of this dividend is Wednesday, December 13th. Golar LNG’s payout ratio is presently -10.75%.

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Golar LNG 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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Institutional Ownership by Quarter for Golar LNG (NASDAQ:GLNG)

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