Golar LNG Limited (NASDAQ:GLNG) Short Interest Down 16.7% in March

Golar LNG Limited (NASDAQ:GLNG) was the target of a large decrease in short interest during 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. Approximately 4.4% of the shares of the stock are short sold. Based on an average daily volume of 1,490,000 shares, the days-to-cover ratio is presently 2.6 days.

Wall Street Analysts Forecast Growth

GLNG has been the subject of a number of recent analyst reports. StockNews.com raised Golar LNG to a “sell” rating in a report on Thursday, March 20th. Stifel Nicolaus raised their price target on Golar LNG from $53.00 to $55.00 and gave the company a “buy” rating in a report on Tuesday, December 24th. Fearnley Fonds raised shares of Golar LNG from a “hold” rating to a “strong-buy” rating in a research note on Wednesday, March 19th. Finally, DNB Markets downgraded 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 issued a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat.com, Golar LNG currently has an average rating of “Moderate Buy” and an average target price of $50.13.

Golar LNG Price Performance

Shares of Golar LNG stock traded up $0.05 during trading on Wednesday, hitting $37.10. 1,686,918 shares of the company were exchanged, compared to its average volume of 1,303,312. The firm has a market capitalization of $3.87 billion, a P/E ratio of 265.02 and a beta of 0.78. The firm’s fifty day moving average price is $38.46 and its 200 day moving average price is $38.82. Golar LNG has a 1-year low of $23.96 and a 1-year high of $44.36.

Golar LNG Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Tuesday, March 18th. Shareholders of record on Tuesday, March 11th were paid a $0.25 dividend. This represents a $1.00 annualized dividend and a yield of 2.70%. The ex-dividend date was Tuesday, March 11th. Golar LNG’s payout ratio is presently 208.33%.

Hedge Funds Weigh In On Golar LNG

A number of hedge funds and other institutional investors have recently made changes to their positions in the company. 111 Capital acquired a new stake in Golar LNG during the 4th quarter worth $248,000. Teza Capital Management LLC bought a new stake in shares of Golar LNG in the fourth quarter worth about $2,652,000. Toronto Dominion Bank acquired a new stake in shares of Golar LNG during the fourth quarter worth about $1,185,000. Sagefield Capital LP bought a new position in shares of Golar LNG during the 4th quarter valued at about $8,725,000. Finally, ProShare Advisors LLC grew its position in shares of Golar LNG by 49.0% in the 4th quarter. ProShare Advisors LLC now owns 27,871 shares of the shipping company’s stock valued at $1,180,000 after purchasing an additional 9,169 shares during the period. 92.21% of the stock is owned by institutional investors.

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.