Golar LNG Limited (NASDAQ:GLNG) Given Average Rating of “Buy” by Analysts

Golar LNG Limited (NASDAQ:GLNG) has been assigned an average rating of “Buy” from the nine analysts that are presently covering the firm, Marketbeat reports. Three equities research analysts have rated the stock with a hold rating, three have assigned a buy rating and three have given a strong buy rating to the company. The average 1 year price objective among brokerages that have updated their coverage on the stock in the last year is $50.50.

Several research analysts have recently weighed in on GLNG shares. Weiss Ratings reaffirmed a “hold (c+)” rating on shares of Golar LNG in a report on Monday, December 29th. Zacks Research upgraded Golar LNG from a “strong sell” rating to a “hold” rating in a research report on Monday, January 5th. Wall Street Zen lowered Golar LNG from a “hold” rating to a “sell” rating in a research note on Saturday, February 28th. The Goldman Sachs Group set a $56.00 price target on Golar LNG in a report on Monday, February 2nd. Finally, BTIG Research lifted their price target on Golar LNG from $50.00 to $53.00 and gave the company a “buy” rating in a research report on Wednesday, February 25th.

Golar LNG Price Performance

GLNG stock opened at $46.65 on Thursday. The firm has a 50 day moving average of $41.21 and a 200-day moving average of $40.13. The firm has a market capitalization of $4.88 billion, a P/E ratio of 72.89 and a beta of 0.18. Golar LNG has a 12 month low of $29.56 and a 12 month high of $47.21. The company has a current ratio of 2.55, a quick ratio of 1.32 and a debt-to-equity ratio of 1.19.

Golar LNG (NASDAQ:GLNG) last posted its earnings results on Wednesday, February 25th. The shipping company reported $0.30 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.38 by ($0.08). Golar LNG had a return on equity of 6.24% and a net margin of 16.69%.The firm had revenue of $132.81 million during the quarter, compared to analysts’ expectations of $123.29 million. As a group, sell-side analysts predict that Golar LNG will post 1.39 earnings per share for the current fiscal year.

Golar LNG Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Wednesday, March 18th. Shareholders of record on Monday, March 9th will be given a dividend of $0.25 per share. The ex-dividend date is Monday, March 9th. This represents a $1.00 annualized dividend and a yield of 2.1%. Golar LNG’s payout ratio is presently 156.25%.

Hedge Funds Weigh In On Golar LNG

A number of institutional investors have recently made changes to their positions in GLNG. T. Rowe Price Investment Management Inc. lifted its holdings in shares of Golar LNG by 253.7% during the 4th quarter. T. Rowe Price Investment Management Inc. now owns 2,306,379 shares of the shipping company’s stock worth $85,821,000 after acquiring an additional 1,654,353 shares during the last quarter. Vident Advisory LLC increased its stake in Golar LNG by 22.9% in the fourth quarter. Vident Advisory LLC now owns 8,149 shares of the shipping company’s stock valued at $303,000 after acquiring an additional 1,521 shares during the last quarter. Empowered Funds LLC purchased a new stake in Golar LNG during the fourth quarter valued at about $2,682,000. SummitTX Capital L.P. lifted its stake in Golar LNG by 1.9% during the fourth quarter. SummitTX Capital L.P. now owns 81,844 shares of the shipping company’s stock worth $3,045,000 after purchasing an additional 1,565 shares during the last quarter. Finally, Summit Securities Group LLC bought a new stake in Golar LNG during the fourth quarter worth about $309,000. Institutional investors own 92.21% of the company’s stock.

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.