Putnam Investments LLC Cuts Stock Position in Golar LNG Limited (NASDAQ:GLNG)

Posted by on Mar 14th, 2023

Putnam Investments LLC lowered its position in Golar LNG Limited (NASDAQ:GLNG – Get Rating) by 1.8% during the third quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 39,768 shares of the shipping company’s stock after selling 722 shares during the period. Putnam Investments LLC’s holdings in Golar LNG were worth $991,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also recently modified their holdings of the company. BlackRock Inc. grew its position in shares of Golar LNG by 1.3% in the 3rd quarter. BlackRock Inc. now owns 5,135,244 shares of the shipping company’s stock worth $127,971,000 after buying an additional 68,288 shares during the last quarter. FMR LLC grew its position in Golar LNG by 11.5% during the 2nd quarter. FMR LLC now owns 4,573,821 shares of the shipping company’s stock worth $104,054,000 after purchasing an additional 470,416 shares during the last quarter. Goldman Sachs Group Inc. grew its position in Golar LNG by 324.9% during the 2nd quarter. Goldman Sachs Group Inc. now owns 2,582,678 shares of the shipping company’s stock worth $58,756,000 after purchasing an additional 1,974,914 shares during the last quarter. Driehaus Capital Management LLC grew its position in Golar LNG by 27.2% during the 2nd quarter. Driehaus Capital Management LLC now owns 1,791,494 shares of the shipping company’s stock worth $40,756,000 after purchasing an additional 382,533 shares during the last quarter. Finally, State Street Corp grew its position in Golar LNG by 4.1% during the 2nd quarter. State Street Corp now owns 1,616,286 shares of the shipping company’s stock worth $36,771,000 after purchasing an additional 64,180 shares during the last quarter. Hedge funds and other institutional investors own 72.45% of the company’s stock.

Golar LNG Stock Performance

Shares of NASDAQ GLNG opened at $21.74 on Tuesday. The company has a current ratio of 2.57, a quick ratio of 2.57 and a debt-to-equity ratio of 0.35. Golar LNG Limited has a 12 month low of $16.82 and a 12 month high of $30.66. The company has a 50 day simple moving average of $22.80 and a two-hundred day simple moving average of $24.48. The stock has a market cap of $2.35 billion, a price-to-earnings ratio of 3.24 and a beta of 0.67.

Analysts Set New Price Targets

Separately, Deutsche Bank Aktiengesellschaft boosted their target price on shares of Golar LNG from $17.00 to $33.00 and gave the stock a “buy” rating in a research report on Thursday, November 17th. One equities research analyst has rated the stock with a hold rating and six have issued a buy rating to the company. According to MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average price target of $31.88.

Golar LNG Company Profile

(Get Rating)

Golar LNG Ltd. owns and operates liquefied natural gas carriers, floating storage, and regasification unit. It operates through the following segments: Vessel Operations, FLNG, and Power. The Vessel Operations segment operates and charter out vessels on fixed terms to customers. The FLNG segment provides integrated upstream and midstream solution for the development of gas reserves to LNG.

Featured Stories

Want to see what other hedge funds are holding GLNG? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Golar LNG Limited (NASDAQ:GLNG – Get Rating).

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

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