Maridea Wealth Management LLC Invests $654,000 in Golar LNG Limited (NASDAQ:GLNG)

Maridea Wealth Management LLC purchased a new stake in shares of Golar LNG Limited (NASDAQ:GLNG) in the fourth quarter, according to its most recent disclosure with the SEC. The firm purchased 15,447 shares of the shipping company’s stock, valued at approximately $654,000.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Barclays PLC grew its stake in shares of Golar LNG by 431.3% during the third quarter. Barclays PLC now owns 185,018 shares of the shipping company’s stock valued at $6,802,000 after acquiring an additional 150,195 shares in the last quarter. JPMorgan Chase & Co. grew its stake in Golar LNG by 37.0% during the 3rd quarter. JPMorgan Chase & Co. now owns 218,971 shares of the shipping company’s stock valued at $8,049,000 after purchasing an additional 59,188 shares in the last quarter. Stifel Financial Corp increased its holdings in Golar LNG by 21.8% during the 3rd quarter. Stifel Financial Corp now owns 639,813 shares of the shipping company’s stock worth $23,520,000 after purchasing an additional 114,531 shares during the last quarter. Luxor Capital Group LP acquired a new position in shares of Golar LNG in the 3rd quarter valued at approximately $10,286,000. Finally, Zweig DiMenna Associates LLC purchased a new position in shares of Golar LNG during the 4th quarter valued at approximately $2,391,000. Hedge funds and other institutional investors own 92.21% of the company’s stock.

Analyst Ratings Changes

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

Golar LNG Stock Performance

NASDAQ GLNG opened at $37.88 on Friday. Golar LNG Limited has a one year low of $23.74 and a one year high of $44.36. The company has a 50-day simple moving average of $38.63 and a 200-day simple moving average of $38.64. The firm has a market capitalization of $3.95 billion, a PE ratio of 270.59 and a beta of 0.78.

Golar LNG Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Tuesday, March 18th. Stockholders of record on Tuesday, March 11th were issued a dividend of $0.25 per share. This represents a $1.00 annualized dividend and a dividend yield of 2.64%. The ex-dividend date of this dividend was Tuesday, March 11th. Golar LNG’s dividend payout ratio (DPR) is presently 208.33%.

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.