Golar LNG Limited (NASDAQ:GLNG) Receives Consensus Recommendation of “Moderate Buy” from Brokerages

Shares of Golar LNG Limited (NASDAQ:GLNG) have been assigned an average recommendation of “Moderate Buy” from the five brokerages that are currently covering the company, Marketbeat.com reports. One research analyst has rated the stock with a hold rating and four have assigned a buy rating to the company. The average 1 year target price among analysts that have covered the stock in the last year is $50.13.

A number of research firms have recently commented on GLNG. Stifel Nicolaus upped their price target on shares of Golar LNG from $53.00 to $55.00 and gave the stock a “buy” rating in a report on Tuesday, December 24th. StockNews.com upgraded shares of Golar LNG to a “sell” rating in a research note on Monday, December 9th. Finally, Fearnley Fonds lowered shares of Golar LNG from a “strong-buy” rating to a “hold” rating in a research report on Wednesday, November 13th.

Institutional Trading of Golar LNG

Hedge funds have recently bought and sold shares of the stock. Public Employees Retirement System of Ohio bought a new position in shares of Golar LNG in the 3rd quarter worth $32,000. Blue Trust Inc. grew its stake in Golar LNG by 105.1% in the third quarter. Blue Trust Inc. now owns 1,372 shares of the shipping company’s stock valued at $50,000 after purchasing an additional 703 shares during the last quarter. Sound Income Strategies LLC bought a new position in Golar LNG in the third quarter worth about $52,000. CWM LLC lifted its position in shares of Golar LNG by 830.9% during the third quarter. CWM LLC now owns 1,657 shares of the shipping company’s stock valued at $61,000 after buying an additional 1,479 shares during the last quarter. Finally, EverSource Wealth Advisors LLC boosted its holdings in shares of Golar LNG by 206.2% in the 2nd quarter. EverSource Wealth Advisors LLC now owns 1,727 shares of the shipping company’s stock valued at $54,000 after buying an additional 1,163 shares in the last quarter. Hedge funds and other institutional investors own 92.21% of the company’s stock.

Golar LNG Price Performance

GLNG opened at $43.50 on Friday. The business has a fifty day moving average of $39.60 and a 200 day moving average of $35.96. The stock has a market cap of $4.54 billion, a P/E ratio of 310.74 and a beta of 0.59. The company has a quick ratio of 1.28, a current ratio of 1.55 and a debt-to-equity ratio of 0.41. Golar LNG has a 52-week low of $19.94 and a 52-week high of $44.36.

Golar LNG Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Monday, December 2nd. Stockholders of record on Monday, November 25th were issued a $0.25 dividend. The ex-dividend date of this dividend was Monday, November 25th. This represents a $1.00 annualized dividend and a dividend yield of 2.30%. Golar LNG’s dividend payout ratio is currently 714.29%.

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.