Golar LNG Limited (NASDAQ:GLNG) Receives Average Recommendation of “Moderate Buy” from Analysts

Shares of Golar LNG Limited (NASDAQ:GLNG) have been given a consensus recommendation of “Moderate Buy” by the ten analysts that are covering the stock, Marketbeat Ratings reports. One investment analyst has rated the stock with a sell rating, two have given a hold rating, four have issued a buy rating and three have given a strong buy rating to the company. The average 1-year price target among brokerages that have covered the stock in the last year is $50.4167.

GLNG has been the topic of several recent research reports. Wall Street Zen raised shares of Golar LNG from a “sell” rating to a “hold” rating in a report on Saturday. Citigroup assumed coverage on Golar LNG in a research report on Friday, October 10th. They set a “buy” rating and a $51.00 price target on the stock. Weiss Ratings reaffirmed a “hold (c+)” rating on shares of Golar LNG in a report on Thursday. 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 target price for the company. Finally, Zacks Research lowered Golar LNG from a “hold” rating to a “strong sell” rating in a report on Friday, November 7th.

Golar LNG Price Performance

Shares of Golar LNG stock opened at $35.33 on Tuesday. The company has a quick ratio of 0.85, a current ratio of 1.47 and a debt-to-equity ratio of 0.63. The stock has a market capitalization of $3.69 billion, a price-to-earnings ratio of -504.64 and a beta of 0.29. Golar LNG has a twelve month low of $29.56 and a twelve month high of $45.98. The company has a 50-day simple moving average of $39.08 and a two-hundred day simple moving average of $40.48.

Golar LNG Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Monday, November 24th. Investors of record on Monday, November 17th were paid a $0.25 dividend. The ex-dividend date of this dividend was Monday, November 17th. This represents a $1.00 annualized dividend and a yield of 2.8%. Golar LNG’s dividend payout ratio is presently 175.44%.

Institutional Investors Weigh In On Golar LNG

Several hedge funds have recently added to or reduced their stakes in GLNG. Quarry LP bought a new stake in Golar LNG during the 1st quarter worth approximately $26,000. Caitong International Asset Management Co. Ltd lifted its holdings in shares of Golar LNG by 278.2% during the third quarter. Caitong International Asset Management Co. Ltd now owns 658 shares of the shipping company’s stock worth $27,000 after purchasing an additional 484 shares during the period. SVB Wealth LLC acquired a new position in shares of Golar LNG during the first quarter worth $31,000. Signaturefd LLC grew its stake in shares of Golar LNG by 64.6% in the second quarter. Signaturefd LLC now owns 856 shares of the shipping company’s stock worth $35,000 after purchasing an additional 336 shares during the last quarter. Finally, Smartleaf Asset Management LLC increased its holdings in Golar LNG by 281.9% in the third quarter. Smartleaf Asset Management LLC now owns 909 shares of the shipping company’s stock valued at $37,000 after purchasing an additional 671 shares during the period. 92.21% of the stock is currently owned by institutional investors and hedge funds.

Golar LNG Company Profile

Golar LNG Limited designs, converts, owns, and operates marine infrastructure for the liquefaction of natural gas. The company operates through three segments: FLNG, Corporate and Other, and Shipping. It engages in the regasification, storage, and offloading of liquefied natural gas (LNG); operation of floating liquefaction natural gas (FLNG) vessels or projects; transportation of LNG carriers; and vessel management activities.