Golar LNG Limited (NASDAQ:GLNG) Given Average Recommendation of “Moderate Buy” by Brokerages

Golar LNG Limited (NASDAQ:GLNG) has been given a consensus recommendation of “Moderate Buy” by the six ratings firms that are covering the firm, Marketbeat Ratings reports. Two analysts have rated the stock with a hold rating and four have assigned a buy rating to the company. The average twelve-month price target among brokerages that have updated their coverage on the stock in the last year is $50.13.

GLNG has been the topic of a number of recent analyst reports. DNB Markets downgraded shares of Golar LNG from a “buy” rating to a “hold” rating in a report on Wednesday, February 19th. StockNews.com upgraded shares of Golar LNG to a “sell” rating in a report on Monday, December 9th. Finally, Stifel Nicolaus increased their price target on shares of Golar LNG from $53.00 to $55.00 and gave the company a “buy” rating in a report on Tuesday, December 24th.

Golar LNG Stock Up 6.2 %

GLNG stock opened at $37.20 on Thursday. Golar LNG has a twelve month low of $23.45 and a twelve month high of $44.36. The company has a market cap of $3.88 billion, a price-to-earnings ratio of 265.73 and a beta of 0.78. The business has a 50 day moving average price of $38.99 and a two-hundred day moving average price of $38.33.

Golar LNG Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Tuesday, March 18th. Stockholders of record on Tuesday, March 11th were paid a $0.25 dividend. The ex-dividend date of this dividend was Tuesday, March 11th. This represents a $1.00 annualized dividend and a dividend yield of 2.69%. Golar LNG’s payout ratio is 208.33%.

Institutional Trading of Golar LNG

Institutional investors and hedge funds have recently modified their holdings of the business. Barclays PLC lifted its holdings 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 worth $6,802,000 after acquiring an additional 150,195 shares during the last quarter. De Lisle Partners LLP increased its position 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 worth $9,169,000 after purchasing an additional 20,890 shares in the last quarter. Healthcare of Ontario Pension Plan Trust Fund lifted its stake in Golar LNG by 467.9% in the 3rd quarter. Healthcare of Ontario Pension Plan Trust Fund now owns 2,237,000 shares of the shipping company’s stock valued at $82,232,000 after purchasing an additional 1,843,100 shares during the last quarter. JPMorgan Chase & Co. boosted its position in 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 buying an additional 59,188 shares in the last quarter. Finally, Stifel Financial Corp grew its stake in shares of Golar LNG by 21.8% during the third quarter. Stifel Financial Corp now owns 639,813 shares of the shipping company’s stock worth $23,520,000 after buying an additional 114,531 shares during the last quarter. 92.21% of the stock is currently owned by institutional investors.

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.