Golar LNG Limited (NASDAQ:GLNG) shares rose 5.7% on Monday . The stock traded as high as $21.41 and last traded at $20.98. Approximately 2,183,534 shares changed hands during mid-day trading, an increase of 117% from the average daily volume of 1,004,890 shares. The stock had previously closed at $19.84.
GLNG has been the topic of several research analyst reports. Morgan Stanley reaffirmed an “overweight” rating and issued a $31.00 price target (down previously from $32.00) on shares of Golar LNG Limited in a report on Friday, September 1st. Cowen and Company reaffirmed an “outperform” rating and issued a $45.00 price target on shares of Golar LNG Limited in a report on Thursday, August 31st. ValuEngine cut shares of Golar LNG Limited from a “hold” rating to a “sell” rating in a report on Friday, September 1st. Stifel Nicolaus reaffirmed a “buy” rating and issued a $36.00 price target on shares of Golar LNG Limited in a report on Wednesday, July 5th. Finally, Citigroup Inc. decreased their price target on shares of Golar LNG Limited from $28.00 to $26.00 and set a “buy” rating on the stock in a report on Thursday, August 17th. Two analysts have rated the stock with a sell rating, two have assigned a hold rating and eight have issued a buy rating to the stock. The stock presently has a consensus rating of “Buy” and a consensus price target of $34.67.
The stock’s market cap is $2.06 billion. The company’s 50-day moving average price is $21.60 and its 200-day moving average price is $22.97.
Golar LNG Limited (NASDAQ:GLNG) last posted its quarterly earnings data on Wednesday, August 30th. The shipping company reported ($0.51) EPS for the quarter, missing analysts’ consensus estimates of ($0.40) by ($0.11). The business had revenue of $28.41 million during the quarter, compared to analyst estimates of $17.03 million. Golar LNG Limited had a negative return on equity of 7.78% and a negative net margin of 179.35%. Equities analysts forecast that Golar LNG Limited will post ($1.92) EPS for the current year.
The firm also recently disclosed a quarterly dividend, which was paid on Wednesday, October 4th. Shareholders of record on Thursday, September 14th were paid a $0.05 dividend. This represents a $0.20 dividend on an annualized basis and a yield of 0.95%. The ex-dividend date was Wednesday, September 13th.
A number of institutional investors have recently bought and sold shares of GLNG. Comerica Bank boosted its stake in Golar LNG Limited by 1.1% in the first quarter. Comerica Bank now owns 9,250 shares of the shipping company’s stock worth $239,000 after purchasing an additional 105 shares in the last quarter. Karp Capital Management Corp acquired a new position in shares of Golar LNG Limited during the first quarter valued at $272,000. Parametric Portfolio Associates LLC lifted its stake in shares of Golar LNG Limited by 2.2% during the first quarter. Parametric Portfolio Associates LLC now owns 87,536 shares of the shipping company’s stock valued at $2,445,000 after acquiring an additional 1,852 shares during the period. OppenheimerFunds Inc. lifted its stake in shares of Golar LNG Limited by 23.1% during the first quarter. OppenheimerFunds Inc. now owns 20,785 shares of the shipping company’s stock valued at $581,000 after acquiring an additional 3,904 shares during the period. Finally, Teachers Advisors LLC lifted its stake in shares of Golar LNG Limited by 3.6% during the first quarter. Teachers Advisors LLC now owns 165,717 shares of the shipping company’s stock valued at $4,628,000 after acquiring an additional 5,767 shares during the period. 87.42% of the stock is currently owned by institutional investors.
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About Golar LNG Limited
Golar LNG Limited is a midstream liquefied natural gas (LNG) company engaged primarily in the transportation, regasification, liquefaction and trading of LNG. The Company is engaged in the acquisition, ownership, operation and chartering of LNG carriers and Floating Storage Regasification Unit (FSRUs) through its subsidiaries and affiliates, and the development of LNG projects, such as floating LNGs (FLNGs).
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