Golar LNG (NASDAQ:GLNG) Stock Passes Above 200-Day Moving Average – Time to Sell?

Golar LNG Limited (NASDAQ:GLNG) passed above its 200-day moving average during trading on Tuesday . The stock has a 200-day moving average of $47.58 and traded as high as $51.10. Golar LNG shares last traded at $50.49, with a volume of 961,394 shares.

Wall Street Analyst Weigh In

A number of equities research analysts have issued reports on the stock. Deutsche Bank Aktiengesellschaft reaffirmed a “buy” rating and set a $65.00 price objective on shares of Golar LNG in a report on Thursday, May 21st. Weiss Ratings upgraded shares of Golar LNG from a “hold (c+)” rating to a “buy (b-)” rating in a research report on Tuesday, June 23rd. Pareto Securities cut shares of Golar LNG from a “strong-buy” rating to a “hold” rating in a research note on Thursday, May 21st. Wall Street Zen downgraded shares of Golar LNG from a “hold” rating to a “sell” rating in a report on Saturday, June 27th. Finally, The Goldman Sachs Group set a $66.00 price target on shares of Golar LNG and gave the stock a “conviction-buy” rating in a research note on Tuesday. One investment analyst has rated the stock with a Strong Buy rating, four have issued a Buy rating and three have given a Hold rating to the stock. According to data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average target price of $58.70.

Golar LNG Price Performance

The company has a market cap of $5.12 billion, a P/E ratio of 36.59 and a beta of 0.02. The firm’s 50-day moving average is $52.13 and its two-hundred day moving average is $47.58. The company has a debt-to-equity ratio of 1.14, a current ratio of 2.57 and a quick ratio of 2.57.

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

Golar LNG Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Wednesday, June 10th. Investors of record on Monday, June 1st were given a $0.25 dividend. The ex-dividend date was Monday, June 1st. This represents a $1.00 annualized dividend and a yield of 2.0%. Golar LNG’s dividend payout ratio (DPR) is currently 72.46%.

Institutional Investors Weigh In On Golar LNG

Large investors have recently added to or reduced their stakes in the stock. EverSource Wealth Advisors LLC lifted its stake in shares of Golar LNG by 17.0% in the 1st quarter. EverSource Wealth Advisors LLC now owns 1,532 shares of the shipping company’s stock valued at $83,000 after purchasing an additional 223 shares during the last quarter. AdvisorNet Financial Inc increased its position in shares of Golar LNG by 108.5% during the 1st quarter. AdvisorNet Financial Inc now owns 515 shares of the shipping company’s stock valued at $28,000 after purchasing an additional 268 shares during the last quarter. State of Alaska Department of Revenue raised its holdings in Golar LNG by 6.4% during the 4th quarter. State of Alaska Department of Revenue now owns 4,540 shares of the shipping company’s stock valued at $168,000 after buying an additional 274 shares during the period. Franklin Resources Inc. lifted its position in Golar LNG by 2.2% in the fourth quarter. Franklin Resources Inc. now owns 16,707 shares of the shipping company’s stock worth $622,000 after buying an additional 359 shares during the last quarter. Finally, State of Wyoming lifted its position in Golar LNG by 12.7% in the fourth quarter. State of Wyoming now owns 3,878 shares of the shipping company’s stock worth $144,000 after buying an additional 436 shares during the last quarter. 92.21% of the stock is 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.