Golar LNG Limited (GLNG) Receives Consensus Rating of “Buy” from Analysts
Golar LNG Limited (NASDAQ:GLNG) has been given a consensus recommendation of “Buy” by the twelve ratings firms that are presently covering the firm, Marketbeat reports. One analyst has rated the stock with a sell rating, two have given a hold rating, seven have issued a buy rating and one has given a strong buy rating to the company. The average 12 month price target among analysts that have updated their coverage on the stock in the last year is $35.17.
A number of research firms have issued reports on GLNG. Jefferies Group began coverage on Golar LNG in a report on Monday, December 18th. They set a “buy” rating and a $39.00 target price for the company. BidaskClub upgraded shares of Golar LNG from a “buy” rating to a “strong-buy” rating in a research note on Friday, December 15th. Cowen increased their price objective on shares of Golar LNG from $41.00 to $44.00 and gave the stock an “outperform” rating in a research note on Tuesday, December 12th. Zacks Investment Research upgraded shares of Golar LNG from a “sell” rating to a “hold” rating in a research note on Wednesday, November 29th. Finally, ABN Amro upgraded shares of Golar LNG from a “hold” rating to a “buy” rating in a research note on Monday, October 30th.
Large investors have recently modified their holdings of the stock. Vanguard Group Inc. lifted its stake in Golar LNG by 3.0% in the 2nd quarter. Vanguard Group Inc. now owns 219,487 shares of the shipping company’s stock valued at $4,884,000 after purchasing an additional 6,307 shares during the last quarter. The Manufacturers Life Insurance Company lifted its stake in Golar LNG by 23,320.4% in the 2nd quarter. The Manufacturers Life Insurance Company now owns 71,198 shares of the shipping company’s stock valued at $1,583,000 after purchasing an additional 70,894 shares during the last quarter. State Street Corp lifted its stake in Golar LNG by 6.2% in the 2nd quarter. State Street Corp now owns 1,734,953 shares of the shipping company’s stock valued at $38,608,000 after purchasing an additional 101,007 shares during the last quarter. Capital Management Associates NY lifted its stake in Golar LNG by 100.0% in the 3rd quarter. Capital Management Associates NY now owns 19,000 shares of the shipping company’s stock valued at $430,000 after purchasing an additional 9,500 shares during the last quarter. Finally, Verition Fund Management LLC acquired a new stake in Golar LNG in the 2nd quarter valued at about $639,000. Institutional investors and hedge funds own 82.83% of the company’s stock.
The company also recently announced a quarterly dividend, which was paid on Thursday, January 4th. Investors of record on Thursday, December 14th were paid a $0.05 dividend. The ex-dividend date was Wednesday, December 13th. This represents a $0.20 annualized dividend and a yield of 0.65%. Golar LNG’s dividend payout ratio (DPR) is currently -10.75%.
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About Golar LNG
Golar LNG Limited is a midstream liquefied natural gas (LNG) company engaged primarily in the transportation, regasification, liquefaction and trading of LNG. The Company is engaged in the acquisition, ownership, operation and chartering of LNG carriers and Floating Storage Regasification Unit (FSRUs) through its subsidiaries and affiliates, and the development of LNG projects, such as floating LNGs (FLNGs).
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