Golar LNG Limited (NASDAQ:GLNG) Shares Sold by Harvey Capital Management Inc.

Harvey Capital Management Inc. cut its stake in shares of Golar LNG Limited (NASDAQ:GLNG) by 0.2% during the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 211,950 shares of the shipping company’s stock after selling 375 shares during the quarter. Golar LNG comprises about 2.1% of Harvey Capital Management Inc.’s investment portfolio, making the stock its 11th largest position. Harvey Capital Management Inc.’s holdings in Golar LNG were worth $8,970,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds and other institutional investors have also recently made changes to their positions in the stock. Barclays PLC increased its position in shares of Golar LNG by 431.3% in the third quarter. Barclays PLC now owns 185,018 shares of the shipping company’s stock valued at $6,802,000 after buying an additional 150,195 shares in the last quarter. De Lisle Partners LLP increased its holdings in Golar LNG by 9.1% during the 3rd quarter. De Lisle Partners LLP now owns 249,390 shares of the shipping company’s stock valued at $9,169,000 after acquiring an additional 20,890 shares in the last quarter. Healthcare of Ontario Pension Plan Trust Fund raised its position in Golar LNG by 467.9% during the third quarter. Healthcare of Ontario Pension Plan Trust Fund now owns 2,237,000 shares of the shipping company’s stock worth $82,232,000 after acquiring an additional 1,843,100 shares during the last quarter. JPMorgan Chase & Co. lifted its holdings in shares of Golar LNG by 37.0% in the third quarter. JPMorgan Chase & Co. now owns 218,971 shares of the shipping company’s stock valued at $8,049,000 after purchasing an additional 59,188 shares in the last quarter. Finally, Royce & Associates LP grew its position in shares of Golar LNG by 102.5% in the third quarter. Royce & Associates LP now owns 81,000 shares of the shipping company’s stock valued at $2,978,000 after purchasing an additional 41,000 shares during the last quarter. Institutional investors and hedge funds own 92.21% of the company’s stock.

Golar LNG Stock Performance

Shares of NASDAQ GLNG opened at $40.35 on Wednesday. The firm has a market cap of $4.21 billion, a P/E ratio of 288.23 and a beta of 0.55. Golar LNG Limited has a 1 year low of $19.94 and a 1 year high of $44.36. The firm’s 50 day moving average price is $41.76 and its 200 day moving average price is $37.61.

Analysts Set New Price Targets

GLNG has been the subject of several research reports. StockNews.com upgraded Golar LNG to a “sell” rating in a research report on Monday, December 9th. Stifel Nicolaus boosted their price target on Golar LNG from $53.00 to $55.00 and gave the stock a “buy” rating in a report on Tuesday, December 24th. Finally, Fearnley Fonds lowered Golar LNG from a “strong-buy” rating to a “hold” rating in a research note on Wednesday, November 13th. One equities research analyst has rated the stock with a sell rating, one has issued a hold rating and four have issued a buy rating to the stock. Based on data from MarketBeat, Golar LNG currently has an average rating of “Moderate Buy” and an average price target of $50.13.

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.