Golar LNG (NASDAQ:GLNG) Hits New 1-Year High – What’s Next?

Golar LNG Limited (NASDAQ:GLNG)’s stock price hit a new 52-week high during trading on Tuesday . The stock traded as high as $57.59 and last traded at $57.41, with a volume of 109285 shares traded. The stock had previously closed at $56.82.

Analysts Set New Price Targets

Several research firms have issued reports on GLNG. BTIG Research upped their price objective on shares of Golar LNG from $50.00 to $53.00 and gave the company a “buy” rating in a research note on Wednesday, February 25th. Wall Street Zen downgraded Golar LNG from a “hold” rating to a “sell” rating in a report on Saturday, April 25th. Finally, The Goldman Sachs Group set a $56.00 target price on Golar LNG in a research report on Monday, February 2nd. One equities research analyst has rated the stock with a Strong Buy rating, two have issued a Buy rating and three have assigned a Hold rating to the company. According to data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average target price of $51.13.

Golar LNG Stock Performance

The company has a current ratio of 2.55, a quick ratio of 2.55 and a debt-to-equity ratio of 1.19. The stock has a market cap of $5.77 billion, a price-to-earnings ratio of 88.79 and a beta of 0.06. The stock’s 50 day moving average is $51.59 and its two-hundred day moving average is $43.73.

Golar LNG (NASDAQ:GLNG) last posted its quarterly earnings data on Saturday, February 14th. The shipping company reported $0.09 EPS for the quarter. Golar LNG had a net margin of 16.69% and a return on equity of 6.24%. The company had revenue of $132.81 million for the quarter. Analysts anticipate that Golar LNG Limited will post 0.58 earnings per share for the current fiscal year.

Golar LNG Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Wednesday, March 18th. Investors of record on Monday, March 9th were given a $0.25 dividend. This represents a $1.00 annualized dividend and a yield of 1.8%. The ex-dividend date was Monday, March 9th. Golar LNG’s payout ratio is 156.25%.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently modified their holdings of the stock. Caitong International Asset Management Co. Ltd increased its holdings in shares of Golar LNG by 278.2% in the third quarter. Caitong International Asset Management Co. Ltd now owns 658 shares of the shipping company’s stock valued at $27,000 after purchasing an additional 484 shares during the period. AdvisorNet Financial Inc increased its stake in Golar LNG by 108.5% in the 1st quarter. AdvisorNet Financial Inc now owns 515 shares of the shipping company’s stock valued at $28,000 after buying an additional 268 shares during the period. Smartleaf Asset Management LLC raised its position in Golar LNG by 281.9% during the 3rd quarter. Smartleaf Asset Management LLC now owns 909 shares of the shipping company’s stock worth $37,000 after buying an additional 671 shares during the last quarter. Zions Bancorporation National Association UT acquired a new stake in shares of Golar LNG in the 4th quarter worth $44,000. Finally, EverSource Wealth Advisors LLC boosted its holdings in shares of Golar LNG by 94.0% in the second quarter. EverSource Wealth Advisors LLC now owns 1,356 shares of the shipping company’s stock valued at $56,000 after acquiring an additional 657 shares in the last quarter. 92.21% of the stock is currently owned by hedge funds and other institutional investors.

About Golar LNG

Golar LNG Ltd. is a leading owner and operator of liquefied natural gas (LNG) carriers and floating infrastructure. The company specializes in the transportation of LNG on long-term and spot charters for major energy firms around the world. In addition to shipping, Golar LNG has broadened its services to include project development and the conversion of existing carriers into Floating Liquefied Natural Gas (FLNG) and Floating Storage and Regasification Unit (FSRU) vessels.

Since pioneering the first purpose-built FLNG conversion project, Golar LNG has been at the forefront of offshore gas monetization.