Verition Fund Management LLC acquired a new stake in shares of Golar LNG Limited (NASDAQ:GLNG) during the second quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor acquired 28,729 shares of the shipping company’s stock, valued at approximately $639,000.

A number of other hedge funds and other institutional investors also recently bought and sold shares of the business. Prudential PLC boosted its stake in Golar LNG Limited by 2.3% during the 2nd quarter. Prudential PLC now owns 1,821,946 shares of the shipping company’s stock valued at $40,538,000 after acquiring an additional 40,946 shares during the last quarter. State Street Corp boosted its stake in Golar LNG Limited by 6.2% during the 2nd quarter. State Street Corp now owns 1,734,953 shares of the shipping company’s stock valued at $38,608,000 after acquiring an additional 101,007 shares during the last quarter. HITE Hedge Asset Management LLC boosted its stake in Golar LNG Limited by 79.3% during the 2nd quarter. HITE Hedge Asset Management LLC now owns 1,567,493 shares of the shipping company’s stock valued at $34,877,000 after acquiring an additional 693,185 shares during the last quarter. Balyasny Asset Management LLC boosted its stake in Golar LNG Limited by 35.1% during the 2nd quarter. Balyasny Asset Management LLC now owns 1,136,056 shares of the shipping company’s stock valued at $25,277,000 after acquiring an additional 295,073 shares during the last quarter. Finally, Northern Trust Corp boosted its stake in Golar LNG Limited by 1.9% during the 2nd quarter. Northern Trust Corp now owns 914,655 shares of the shipping company’s stock valued at $20,351,000 after acquiring an additional 16,696 shares during the last quarter. Hedge funds and other institutional investors own 87.91% of the company’s stock.

A number of research analysts have commented on GLNG shares. Cowen and Company reiterated an “outperform” rating and set a $45.00 price objective on shares of Golar LNG Limited in a research note on Friday, June 23rd. Stifel Nicolaus reiterated a “buy” rating and set a $36.00 price objective on shares of Golar LNG Limited in a research note on Wednesday, July 5th. Zacks Investment Research downgraded shares of Golar LNG Limited from a “hold” rating to a “sell” rating in a research note on Wednesday, July 12th. Citigroup Inc. reduced their price objective on shares of Golar LNG Limited from $28.00 to $26.00 and set a “buy” rating on the stock in a research note on Thursday, August 17th. Finally, Morgan Stanley reiterated an “overweight” rating and set a $31.00 price objective (down from $32.00) on shares of Golar LNG Limited in a research note on Friday, September 1st. Two investment analysts have rated the stock with a sell rating, two have issued a hold rating and seven have issued a buy rating to the stock. The stock currently has a consensus rating of “Hold” and a consensus target price of $34.67.

Golar LNG Limited (GLNG) traded down 0.2345% during mid-day trading on Tuesday, hitting $22.3375. 101,234 shares of the company were exchanged. The stock’s 50 day moving average is $21.72 and its 200-day moving average is $23.51. Golar LNG Limited has a 12-month low of $19.94 and a 12-month high of $29.18. The company’s market cap is $2.19 billion.

Golar LNG Limited (NASDAQ:GLNG) last posted its quarterly earnings results on Wednesday, August 30th. The shipping company reported ($0.51) earnings per share for the quarter, missing the Zacks’ consensus estimate of ($0.40) by ($0.11). Golar LNG Limited had a negative return on equity of 7.78% and a negative net margin of 179.35%. The business had revenue of $28.41 million for the quarter, compared to analyst estimates of $17.03 million. Equities research analysts predict that Golar LNG Limited will post ($1.94) EPS for the current year.

The company also recently announced a quarterly dividend, which was paid on Wednesday, October 4th. Stockholders of record on Thursday, September 14th were paid a $0.05 dividend. The ex-dividend date of this dividend was Wednesday, September 13th. This represents a $0.20 annualized dividend and a dividend yield of 0.89%.

TRADEMARK VIOLATION NOTICE: This story was originally posted by The Cerbat Gem and is the sole property of of The Cerbat Gem. If you are accessing this story on another domain, it was illegally copied and reposted in violation of U.S. and international trademark & copyright law. The correct version of this story can be read at https://www.thecerbatgem.com/2017/10/17/verition-fund-management-llc-acquires-new-position-in-golar-lng-limited-glng.html.

About Golar LNG Limited

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).

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

Receive News & Stock Ratings for Golar LNG Limited Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Golar LNG Limited and related stocks with our FREE daily email newsletter.