Golar LNG (NASDAQ:GLNG) Hits New 12-Month High – Here’s What Happened

Shares of Golar LNG Limited (NASDAQ:GLNG) reached a new 52-week high during trading on Thursday . The company traded as high as $44.09 and last traded at $43.98, with a volume of 236786 shares trading hands. The stock had previously closed at $42.32.

Wall Street Analyst Weigh In

A number of equities research analysts have issued reports on the stock. Fearnley Fonds downgraded shares of Golar LNG from a “strong-buy” rating to a “hold” rating in a research note on Wednesday, November 13th. StockNews.com raised shares of Golar LNG to a “sell” rating in a research note on Monday, December 9th. Finally, Stifel Nicolaus upped their target price on Golar LNG from $53.00 to $55.00 and gave the stock a “buy” rating in a research note on Tuesday, December 24th. One equities research analyst has rated the stock with a sell rating, one has given a hold rating and four have issued a buy rating to the stock. According to MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $50.13.

Golar LNG Stock Performance

The company’s 50 day moving average is $39.60 and its 200 day moving average is $35.96. The firm has a market cap of $4.54 billion, a P/E ratio of 310.74 and a beta of 0.61. The company has a debt-to-equity ratio of 0.41, a quick ratio of 1.28 and a current ratio of 1.55.

Golar LNG Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Monday, December 2nd. Investors of record on Monday, November 25th were issued a dividend of $0.25 per share. This represents a $1.00 annualized dividend and a dividend yield of 2.30%. The ex-dividend date of this dividend was Monday, November 25th. Golar LNG’s dividend payout ratio (DPR) is 714.34%.

Hedge Funds Weigh In On Golar LNG

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

About Golar LNG

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.