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Hite Hedge Asset Management LLC Lifted Its Stake in Golar Lng LTD Bermuda (GLNG) by $15.25 Million as Share Price Rose

December 9, 2017 - By Dolores Ford

Hite Hedge Asset Management Llc increased its stake in Golar Lng Ltd Bermuda (GLNG) by 79.28% based on its latest 2017Q2 regulatory filing with the SEC. Hite Hedge Asset Management Llc bought 693,185 shares as the company’s stock rose 4.44% with the market. The hedge fund held 1.57M shares of the marine transportation company at the end of 2017Q2, valued at $34.88M, up from 874,308 at the end of the previous reported quarter. Hite Hedge Asset Management Llc who had been investing in Golar Lng Ltd Bermuda for a number of months, seems to be bullish on the $2.54 billion market cap company. The stock increased 2.28% or $0.56 during the last trading session, reaching $25.17. About 916,078 shares traded. Golar LNG Limited (NASDAQ:GLNG) has risen 61.34% since December 9, 2016 and is uptrending. It has outperformed by 44.64% the S&P500.

More recent Golar LNG Limited (NASDAQ:GLNG) news were published by: Seekingalpha.com which released: “LNG Shipping – An Improving Outlook” on October 10, 2017. Also Seekingalpha.com published the news titled: “Golar LNG Partners: Major Milestone Reached” on July 10, 2017. Seekingalpha.com‘s news article titled: “3 Short Updates For 3 Shipping Segments” with publication date: November 30, 2017 was also an interesting one.

Golar LNG Limited (NASDAQ:GLNG) Ratings Coverage

Among 11 analysts covering Golar LNG Limited (NASDAQ:GLNG), 8 have Buy rating, 0 Sell and 3 Hold. Therefore 73% are positive. Golar LNG Limited had 25 analyst reports since August 18, 2015 according to SRatingsIntel. The stock has “Buy” rating by Stifel Nicolaus on Friday, September 22. Credit Suisse initiated the shares of GLNG in report on Friday, September 18 with “Neutral” rating. Citigroup maintained the stock with “Buy” rating in Thursday, August 17 report. Credit Suisse upgraded Golar LNG Limited (NASDAQ:GLNG) rating on Monday, May 9. Credit Suisse has “Outperform” rating and $30 target. The stock of Golar LNG Limited (NASDAQ:GLNG) has “Buy” rating given on Monday, June 26 by Jefferies. The stock has “Buy” rating by Cowen & Co on Friday, June 23. The stock of Golar LNG Limited (NASDAQ:GLNG) earned “Buy” rating by Nordea on Wednesday, June 1. The stock of Golar LNG Limited (NASDAQ:GLNG) has “Outperform” rating given on Thursday, October 20 by Cowen & Co. As per Wednesday, December 2, the company rating was downgraded by Bank of America. The stock has “Buy” rating by Stifel Nicolaus on Friday, August 28.

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