Golar LNG Limited (NASDAQ:GLNG) Receives $50.13 Consensus Price Target from Brokerages

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

GLNG has been the subject of a number of analyst reports. StockNews.com upgraded Golar LNG to a “sell” rating in a research report on Monday, December 9th. Fearnley Fonds lowered shares of Golar LNG from a “strong-buy” rating to a “hold” rating in a report on Wednesday, November 13th. Finally, Stifel Nicolaus lifted 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 Price Performance

NASDAQ GLNG opened at $41.83 on Friday. The company has a 50-day moving average price of $39.83 and a 200-day moving average price of $36.26. Golar LNG has a 52 week low of $19.94 and a 52 week high of $44.36. The company has a quick ratio of 1.28, a current ratio of 1.55 and a debt-to-equity ratio of 0.41. The firm has a market capitalization of $4.37 billion, a P/E ratio of 298.81 and a beta of 0.59.

Golar LNG Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Monday, December 2nd. Investors of record on Monday, November 25th were paid a dividend of $0.25 per share. The ex-dividend date of this dividend was Monday, November 25th. This represents a $1.00 dividend on an annualized basis and a dividend yield of 2.39%. Golar LNG’s dividend payout ratio is presently 714.29%.

Institutional Trading of Golar LNG

Hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Public Employees Retirement System of Ohio bought a new position in shares of Golar LNG during the third quarter valued at approximately $32,000. Blue Trust Inc. grew 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 last quarter. Sound Income Strategies LLC purchased a new stake in Golar LNG in the third quarter worth $52,000. EverSource Wealth Advisors LLC increased its stake in Golar LNG by 206.2% in 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 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 worth $61,000 after purchasing an additional 1,479 shares during the last quarter. 92.21% of the stock is owned by hedge funds and other institutional investors.

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.