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

Shares of Golar LNG Limited (NASDAQ:GLNG) passed above its 200-day moving average during trading on Thursday . The stock has a 200-day moving average of $39.64 and traded as high as $41.99. Golar LNG shares last traded at $40.99, with a volume of 952,855 shares.

Wall Street Analyst Weigh In

Several brokerages recently issued reports on GLNG. Wall Street Zen lowered shares of Golar LNG from a “hold” rating to a “sell” rating in a report on Saturday, December 20th. Weiss Ratings reaffirmed a “hold (c+)” rating on shares of Golar LNG in a research note on Monday, December 29th. Citigroup began coverage on shares of Golar LNG in a report on Friday, October 10th. They set a “buy” rating and a $51.00 price target for the company. BTIG Research reissued a “buy” rating and set a $50.00 price objective on shares of Golar LNG in a report on Wednesday, November 5th. Finally, Zacks Research raised Golar LNG from a “strong sell” rating to a “hold” rating in a report on Monday, January 5th. Three 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 company. According to data from MarketBeat, the company currently has a consensus rating of “Buy” and an average target price of $49.50.

Golar LNG Trading Up 0.2%

The company has a debt-to-equity ratio of 0.61, a current ratio of 1.32 and a quick ratio of 1.32. The company has a market cap of $4.29 billion, a price-to-earnings ratio of 71.91 and a beta of 0.18. The business’s fifty day moving average price is $38.16 and its 200 day moving average price is $39.64.

Golar LNG Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Monday, November 24th. Shareholders of record on Monday, November 17th were given a $0.25 dividend. This represents a $1.00 dividend on an annualized basis and a dividend yield of 2.4%. The ex-dividend date was Monday, November 17th. Golar LNG’s payout ratio is 175.44%.

Institutional Trading of Golar LNG

Several institutional investors have recently added to or reduced their stakes in GLNG. Danske Bank A S bought a new position in Golar LNG during the 3rd quarter worth approximately $56,574,000. Adage Capital Partners GP L.L.C. acquired a new stake in shares of Golar LNG during the second quarter worth $24,714,000. Appian Way Asset Management LP raised its stake in Golar LNG by 34.8% during the third quarter. Appian Way Asset Management LP now owns 1,633,582 shares of the shipping company’s stock worth $66,013,000 after buying an additional 421,375 shares during the last quarter. Two Seas Capital LP lifted its holdings in Golar LNG by 76.2% in the second quarter. Two Seas Capital LP now owns 909,355 shares of the shipping company’s stock valued at $37,456,000 after buying an additional 393,406 shares during the period. Finally, Canada Pension Plan Investment Board boosted its position in Golar LNG by 153.1% during the second quarter. Canada Pension Plan Investment Board now owns 602,434 shares of the shipping company’s stock valued at $24,814,000 after acquiring an additional 364,421 shares during the last quarter. 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.