Golar LNG (NASDAQ:GLNG) Upgraded at Wall Street Zen

Wall Street Zen upgraded shares of Golar LNG (NASDAQ:GLNG) from a sell rating to a hold rating in a research report sent to investors on Saturday.

GLNG has been the subject of several other research reports. The Goldman Sachs Group began coverage on shares of Golar LNG in a research report on Monday, September 29th. They set a “buy” rating and a $54.00 price target for the company. BTIG Research reiterated a “buy” rating and issued a $50.00 target price on shares of Golar LNG in a research note on Wednesday, November 5th. B. Riley reissued a “neutral” rating and set a $44.50 target price on shares of Golar LNG in a research report on Monday, August 25th. Zacks Research cut shares of Golar LNG from a “hold” rating to a “strong sell” rating in a report on Friday, November 7th. Finally, Weiss Ratings reiterated a “hold (c+)” rating on shares of Golar LNG in a research note on Thursday. Three research analysts have rated the stock with a Strong Buy rating, four have assigned a Buy rating, two have given a Hold rating and one has issued a Sell rating to the company. Based on data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average target price of $50.42.

Golar LNG Stock Performance

Shares of Golar LNG stock opened at $35.33 on Friday. The business’s fifty day simple moving average is $39.08 and its 200 day simple moving average is $40.48. The company has a current ratio of 1.47, a quick ratio of 0.85 and a debt-to-equity ratio of 0.63. Golar LNG has a 12 month low of $29.56 and a 12 month high of $45.98. The firm has a market capitalization of $3.69 billion, a P/E ratio of -504.64 and a beta of 0.29.

Golar LNG Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Monday, November 24th. Investors of record on Monday, November 17th were issued a dividend of $0.25 per share. The ex-dividend date of this dividend was Monday, November 17th. This represents a $1.00 dividend on an annualized basis and a yield of 2.8%. Golar LNG’s dividend payout ratio is 175.44%.

Institutional Investors Weigh In On Golar LNG

Several hedge funds and other institutional investors have recently modified their holdings of the stock. Rubric Capital Management LP boosted its position in shares of Golar LNG by 2.3% in the second quarter. Rubric Capital Management LP now owns 9,178,978 shares of the shipping company’s stock valued at $378,082,000 after acquiring an additional 203,829 shares during the period. Encompass Capital Advisors LLC lifted its stake in Golar LNG by 73.8% in the 1st quarter. Encompass Capital Advisors LLC now owns 2,276,083 shares of the shipping company’s stock worth $86,468,000 after purchasing an additional 966,692 shares in the last quarter. Cartenna Capital LP boosted its holdings in Golar LNG by 13.2% in the 3rd quarter. Cartenna Capital LP now owns 1,925,000 shares of the shipping company’s stock valued at $77,789,000 after purchasing an additional 225,000 shares during the period. State Street Corp grew its position in shares of Golar LNG by 1.4% during the 2nd quarter. State Street Corp now owns 1,914,741 shares of the shipping company’s stock valued at $78,868,000 after purchasing an additional 26,838 shares in the last quarter. Finally, Appian Way Asset Management LP grew its position in shares of Golar LNG by 34.8% during the 3rd quarter. Appian Way Asset Management LP now owns 1,633,582 shares of the shipping company’s stock valued at $66,013,000 after purchasing an additional 421,375 shares in 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.