Short Interest in Golar LNG Limited (NASDAQ:GLNG) Drops By 16.7%

Golar LNG Limited (NASDAQ:GLNG) was the recipient of a large decrease in short interest in the month of March. As of March 15th, there was short interest totalling 3,890,000 shares, a decrease of 16.7% from the February 28th total of 4,670,000 shares. Currently, 4.4% of the shares of the company are short sold. Based on an average daily volume of 1,490,000 shares, the days-to-cover ratio is currently 2.6 days.

Golar LNG Stock Performance

GLNG traded down $2.66 during trading on Thursday, hitting $34.44. The stock had a trading volume of 980,151 shares, compared to its average volume of 1,303,933. The firm has a market capitalization of $3.60 billion, a P/E ratio of 246.02 and a beta of 0.78. Golar LNG has a twelve month low of $24.21 and a twelve month high of $44.36. The company’s 50-day moving average price is $38.38 and its 200 day moving average price is $38.81.

Golar LNG Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Tuesday, March 18th. Investors of record on Tuesday, March 11th were issued a dividend of $0.25 per share. The ex-dividend date was Tuesday, March 11th. This represents a $1.00 annualized dividend and a yield of 2.90%. Golar LNG’s dividend payout ratio is currently 208.33%.

Analyst Upgrades and Downgrades

Several research analysts have commented on GLNG shares. Fearnley Fonds raised Golar LNG from a “hold” rating to a “strong-buy” rating in a research report on Wednesday, March 19th. Stifel Nicolaus upped 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. StockNews.com raised shares of Golar LNG to a “sell” rating in a research report on Thursday, March 20th. Finally, DNB Markets lowered shares of Golar LNG from a “buy” rating to a “hold” rating in a research note on Wednesday, February 19th. One analyst has rated the stock with a sell rating, one has issued a hold rating, four have assigned a buy rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $50.13.

Institutional Investors Weigh In On Golar LNG

Institutional investors have recently added to or reduced their stakes in the business. Naria Inc. acquired a new stake in shares of Golar LNG in the 4th quarter valued at approximately $435,226,000. Millennium Management LLC raised its position in Golar LNG by 49.2% in the fourth quarter. Millennium Management LLC now owns 4,638,045 shares of the shipping company’s stock worth $196,282,000 after acquiring an additional 1,529,884 shares in the last quarter. State Street Corp lifted its holdings in Golar LNG by 5.2% in the third quarter. State Street Corp now owns 1,920,590 shares of the shipping company’s stock valued at $70,601,000 after acquiring an additional 94,336 shares during the period. Encompass Capital Advisors LLC acquired a new position in shares of Golar LNG during the 4th quarter worth $55,413,000. Finally, Vanguard Group Inc. increased its holdings in shares of Golar LNG by 1.7% in the 4th quarter. Vanguard Group Inc. now owns 1,093,098 shares of the shipping company’s stock valued at $46,260,000 after purchasing an additional 18,475 shares in the last quarter. Hedge funds and other institutional investors own 92.21% of the company’s stock.

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.