Appian Way Asset Management LP Takes Position in Golar LNG Limited (NASDAQ:GLNG)

Appian Way Asset Management LP acquired a new stake in Golar LNG Limited (NASDAQ:GLNG) in the third quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm acquired 417,611 shares of the shipping company’s stock, valued at approximately $15,351,000. Golar LNG comprises about 3.5% of Appian Way Asset Management LP’s holdings, making the stock its 10th largest position.

Several other hedge funds and other institutional investors also recently made changes to their positions in the business. Banque Cantonale Vaudoise raised its holdings in Golar LNG by 11.1% in the 2nd quarter. Banque Cantonale Vaudoise now owns 4,185 shares of the shipping company’s stock valued at $132,000 after acquiring an additional 417 shares during the period. Beck Capital Management LLC lifted its holdings in Golar LNG by 0.7% during the 2nd quarter. Beck Capital Management LLC now owns 75,114 shares of the shipping company’s stock worth $2,355,000 after purchasing an additional 558 shares during the last quarter. Blue Trust Inc. lifted its holdings in Golar LNG by 105.1% during the 3rd quarter. Blue Trust Inc. now owns 1,372 shares of the shipping company’s stock worth $50,000 after purchasing an additional 703 shares during the last quarter. The Manufacturers Life Insurance Company grew its holdings in Golar LNG by 2.9% in the 2nd quarter. The Manufacturers Life Insurance Company now owns 35,580 shares of the shipping company’s stock valued at $1,115,000 after buying an additional 992 shares in the last quarter. Finally, O Brien Greene & Co. Inc increased its position in Golar LNG by 1.7% during the 2nd quarter. O Brien Greene & Co. Inc now owns 60,000 shares of the shipping company’s stock worth $1,881,000 after buying an additional 1,000 shares during the period. 92.21% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

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

Golar LNG Price Performance

Shares of NASDAQ:GLNG opened at $39.37 on Friday. The firm has a 50 day moving average of $37.33 and a 200-day moving average of $33.31. Golar LNG Limited has a 12 month low of $19.94 and a 12 month high of $41.54. The company has a current ratio of 1.24, a quick ratio of 1.28 and a debt-to-equity ratio of 0.31. The stock has a market capitalization of $4.11 billion, a PE ratio of 281.21 and a beta of 0.58.

Golar LNG Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Monday, December 2nd. Shareholders of record on Monday, November 25th will be given 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 dividend payout ratio is currently 714.29%.

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.