Brokerages Set Golar LNG Limited (NASDAQ:GLNG) Target Price at $58.70

Golar LNG Limited (NASDAQ:GLNG) has received a consensus recommendation of “Moderate Buy” from the eight research firms that are presently covering the stock, MarketBeat Ratings reports. Three equities research analysts have rated the stock with a hold recommendation, four have given a buy recommendation and one has issued a strong buy recommendation on the company. The average twelve-month price target among analysts that have covered the stock in the last year is $58.70.

A number of research analysts have issued reports on GLNG shares. Deutsche Bank Aktiengesellschaft reissued a “buy” rating and issued a $65.00 target price on shares of Golar LNG in a research note on Thursday, May 21st. BTIG Research reiterated a “buy” rating and set a $67.00 price objective on shares of Golar LNG in a report on Wednesday, May 20th. Wall Street Zen lowered Golar LNG from a “hold” rating to a “sell” rating in a research report on Saturday, June 27th. The Goldman Sachs Group set a $66.00 target price on Golar LNG and gave the stock a “conviction-buy” rating in a research note on Tuesday, July 7th. Finally, Weiss Ratings upgraded shares of Golar LNG from a “hold (c+)” rating to a “buy (b-)” rating in a report on Tuesday, June 23rd.

Institutional Trading of Golar LNG

Several institutional investors and hedge funds have recently bought and sold shares of GLNG. Caitong International Asset Management Co. Ltd increased its holdings in shares of Golar LNG by 278.2% during the 3rd quarter. Caitong International Asset Management Co. Ltd now owns 658 shares of the shipping company’s stock worth $27,000 after acquiring an additional 484 shares during the last quarter. AdvisorNet Financial Inc increased its position in Golar LNG by 108.5% during the first quarter. AdvisorNet Financial Inc now owns 515 shares of the shipping company’s stock worth $28,000 after acquiring an additional 268 shares during the period. Zions Bancorporation National Association UT acquired a new position in Golar LNG in the 4th quarter valued at $44,000. EverSource Wealth Advisors LLC lifted its position in shares of Golar LNG by 94.0% during the 2nd 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 during the period. Finally, Brown Brothers Harriman & Co. acquired a new stake in shares of Golar LNG during the 4th quarter worth $65,000. Institutional investors own 92.21% of the company’s stock.

Golar LNG Stock Performance

Golar LNG stock opened at $51.92 on Wednesday. The company has a market cap of $5.26 billion, a PE ratio of 37.62 and a beta of 0.02. The company has a current ratio of 2.57, a quick ratio of 2.57 and a debt-to-equity ratio of 1.14. Golar LNG has a 1 year low of $35.02 and a 1 year high of $57.79. The company’s 50-day moving average is $51.83 and its two-hundred day moving average is $48.07.

Golar LNG (NASDAQ:GLNG) last announced its quarterly earnings data on Thursday, March 26th. The shipping company reported $0.82 EPS for the quarter. The business had revenue of $137.55 million during the quarter. Golar LNG had a return on equity of 6.86% and a net margin of 30.10%. Equities analysts anticipate that Golar LNG will post 0.72 earnings per share for the current year.

Golar LNG Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Wednesday, June 10th. Stockholders of record on Monday, June 1st were given a $0.25 dividend. This represents a $1.00 dividend on an annualized basis and a dividend yield of 1.9%. The ex-dividend date of this dividend was Monday, June 1st. Golar LNG’s payout ratio is currently 72.46%.

Golar LNG Company Profile

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.