Golar LNG Target of Unusually Large Options Trading (NASDAQ:GLNG)

Golar LNG Limited (NASDAQ:GLNG) saw some unusual options trading on Wednesday. Traders bought 7,962 call options on the company. This represents an increase of approximately 120% compared to the typical volume of 3,614 call options.

Golar LNG Stock Performance

Shares of GLNG opened at $55.29 on Friday. The business has a 50-day simple moving average of $45.93 and a two-hundred day simple moving average of $41.14. The company has a quick ratio of 2.55, a current ratio of 2.55 and a debt-to-equity ratio of 1.19. Golar LNG has a 52 week low of $29.56 and a 52 week high of $56.21. The stock has a market cap of $5.60 billion, a price-to-earnings ratio of 86.39 and a beta of 0.11.

Golar LNG (NASDAQ:GLNG) last announced its quarterly earnings data on Saturday, February 14th. The shipping company reported $0.09 earnings per share (EPS) for the quarter. The company had revenue of $132.81 million during the quarter. Golar LNG had a return on equity of 6.24% and a net margin of 16.69%. On average, analysts expect that Golar LNG will post 1.39 EPS for the current year.

Golar LNG Dividend Announcement

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

Wall Street Analysts Forecast Growth

GLNG has been the topic of several research reports. Wall Street Zen raised Golar LNG from a “sell” rating to a “hold” rating in a research report on Saturday, March 28th. Zacks Research raised shares of Golar LNG from a “strong sell” rating to a “hold” rating in a research report on Monday, January 5th. The Goldman Sachs Group set a $56.00 price objective on shares of Golar LNG in a report on Monday, February 2nd. Weiss Ratings restated a “hold (c+)” rating on shares of Golar LNG in a research report on Monday, December 29th. Finally, BTIG Research upped their target price on shares of Golar LNG from $50.00 to $53.00 and gave the company a “buy” rating in a report on Wednesday, February 25th. Two equities research analysts have rated the stock with a Strong Buy rating, three have issued a Buy rating and three have assigned a Hold rating to the stock. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and an average price target of $50.50.

Institutional Trading of Golar LNG

Institutional investors and hedge funds have recently modified their holdings of the company. Rockefeller Capital Management L.P. increased its stake in Golar LNG by 38.0% in the 4th quarter. Rockefeller Capital Management L.P. now owns 80,892 shares of the shipping company’s stock worth $3,010,000 after buying an additional 22,269 shares in the last quarter. T. Rowe Price Investment Management Inc. lifted its position in shares of Golar LNG by 253.7% in the fourth quarter. T. Rowe Price Investment Management Inc. now owns 2,306,379 shares of the shipping company’s stock valued at $85,821,000 after acquiring an additional 1,654,353 shares in the last quarter. Vident Advisory LLC lifted its position in shares of 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 in the last quarter. Empowered Funds LLC bought a new position in shares of Golar LNG in the fourth quarter worth about $2,682,000. Finally, SummitTX Capital L.P. boosted its stake in shares of Golar LNG by 1.9% in the fourth quarter. SummitTX Capital L.P. now owns 81,844 shares of the shipping company’s stock worth $3,045,000 after acquiring an additional 1,565 shares during the period. 92.21% of the stock is currently owned by institutional investors.

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.