Golar LNG Limited (NASDAQ:GLNG) Given Consensus Rating of “Buy” by Brokerages

Shares of Golar LNG Limited (NASDAQ:GLNG) have been assigned a consensus recommendation of “Buy” from the nine research firms that are currently covering the stock, MarketBeat Ratings reports. Three equities research analysts have rated the stock with a hold recommendation, three have issued a buy recommendation and three have assigned a strong buy recommendation to the company. The average 1-year price objective among analysts that have updated their coverage on the stock in the last year is $49.50.

GLNG has been the subject of several recent research reports. The Goldman Sachs Group initiated coverage on Golar LNG in a research report on Monday, September 29th. They set a “buy” rating and a $54.00 price target for the company. Citigroup began coverage on Golar LNG in a research note on Friday, October 10th. They set a “buy” rating and a $51.00 price objective on the stock. Wall Street Zen cut shares of Golar LNG from a “hold” rating to a “sell” rating in a research note on Saturday, December 20th. BTIG Research restated a “buy” rating and set a $50.00 target price on shares of Golar LNG in a report on Wednesday, November 5th. Finally, Weiss Ratings reaffirmed a “hold (c+)” rating on shares of Golar LNG in a research report on Monday, December 29th.

Golar LNG Trading Up 1.8%

NASDAQ:GLNG opened at $39.28 on Wednesday. The company has a market cap of $4.11 billion, a P/E ratio of 68.91 and a beta of 0.18. Golar LNG has a twelve month low of $29.56 and a twelve month high of $45.98. The business has a 50 day moving average price of $37.67 and a two-hundred day moving average price of $39.71. The company has a quick ratio of 1.32, a current ratio of 1.32 and a debt-to-equity ratio of 0.61.

Golar LNG Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Monday, November 24th. Investors of record on Monday, November 17th were paid a $0.25 dividend. This represents a $1.00 annualized dividend and a yield of 2.5%. The ex-dividend date was Monday, November 17th. Golar LNG’s dividend payout ratio (DPR) is 175.44%.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently made changes to their positions in the business. Caitong International Asset Management Co. Ltd raised its stake in Golar LNG by 278.2% in the 3rd quarter. Caitong International Asset Management Co. Ltd now owns 658 shares of the shipping company’s stock valued at $27,000 after acquiring an additional 484 shares during the period. Signaturefd LLC raised its position in shares of Golar LNG by 64.6% in the second quarter. Signaturefd LLC now owns 856 shares of the shipping company’s stock valued at $35,000 after purchasing an additional 336 shares during the period. Smartleaf Asset Management LLC lifted its stake in shares of 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. Allworth Financial LP lifted its stake in shares of Golar LNG by 43.5% during the 2nd quarter. Allworth Financial LP now owns 990 shares of the shipping company’s stock worth $41,000 after buying an additional 300 shares during the last quarter. Finally, Crossingbridge Advisors LLC bought a new stake in shares of Golar LNG during the 2nd quarter worth about $41,000. 92.21% of the stock is currently owned by 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.