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

Golar LNG Limited (NASDAQ:GLNG) has been given a consensus rating of “Buy” by the six analysts that are currently covering the company, Marketbeat Ratings reports. One equities research analyst has rated the stock with a hold rating, four have issued a buy rating and one has given a strong buy rating to the company. The average 1 year price objective among brokerages that have updated their coverage on the stock in the last year is $50.13.

A number of equities research analysts recently commented on GLNG shares. DNB Markets cut shares of Golar LNG from a “buy” rating to a “hold” rating in a report on Wednesday, February 19th. StockNews.com raised Golar LNG to a “sell” rating in a research report on Thursday, March 20th. Fearnley Fonds raised Golar LNG from a “hold” rating to a “strong-buy” rating in a report on Wednesday, March 19th. Finally, Stifel Nicolaus upped their price objective 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.

Institutional Investors Weigh In On Golar LNG

A number of institutional investors and hedge funds have recently modified their holdings of GLNG. Public Employees Retirement System of Ohio bought a new stake in Golar LNG during the 3rd quarter worth approximately $32,000. USA Financial Formulas purchased a new stake in shares of Golar LNG in the fourth quarter worth $61,000. Bank Julius Baer & Co. Ltd Zurich bought a new stake in Golar LNG during the fourth quarter valued at $107,000. Blue Trust Inc. grew its position in Golar LNG by 116.8% during the fourth quarter. Blue Trust Inc. now owns 2,975 shares of the shipping company’s stock worth $126,000 after buying an additional 1,603 shares in the last quarter. Finally, J.Safra Asset Management Corp bought a new position in Golar LNG in the 4th quarter worth about $141,000. 92.21% of the stock is owned by hedge funds and other institutional investors.

Golar LNG Stock Performance

NASDAQ GLNG opened at $38.13 on Monday. The company has a market capitalization of $3.99 billion, a PE ratio of 272.38 and a beta of 0.47. Golar LNG has a 52-week low of $24.42 and a 52-week high of $44.36. The company has a 50-day simple moving average of $36.76 and a 200 day simple moving average of $38.75.

Golar LNG Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Tuesday, March 18th. Shareholders of record on Tuesday, March 11th were paid a $0.25 dividend. The ex-dividend date was Tuesday, March 11th. This represents a $1.00 annualized dividend and a yield of 2.62%. Golar LNG’s dividend payout ratio is currently 208.33%.

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.