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

Golar LNG Limited (NASDAQ:GLNG) has been given an average recommendation of “Moderate Buy” by the eight research firms that are currently covering the company, Marketbeat Ratings reports. Three investment analysts have rated the stock with a hold rating, four have assigned a buy rating and one has issued a strong buy rating on the company. The average 12 month price target among brokers that have updated their coverage on the stock in the last year is $58.70.

GLNG has been the topic of several analyst reports. The Goldman Sachs Group set a $66.00 price target on shares of Golar LNG and gave the company a “conviction-buy” rating in a research note on Tuesday. Deutsche Bank Aktiengesellschaft reissued a “buy” rating and issued a $65.00 price objective on shares of Golar LNG in a report on Thursday, May 21st. Wall Street Zen lowered Golar LNG from a “hold” rating to a “sell” rating in a research report on Saturday, June 27th. Pareto Securities cut Golar LNG from a “strong-buy” rating to a “hold” rating in a research note on Thursday, May 21st. Finally, Weiss Ratings raised Golar LNG from a “hold (c+)” rating to a “buy (b-)” rating in a report on Tuesday, June 23rd.

Institutional Trading of Golar LNG

Institutional investors have recently made changes to their positions in the stock. Caitong International Asset Management Co. Ltd boosted its holdings in shares of Golar LNG by 278.2% in the third quarter. Caitong International Asset Management Co. Ltd now owns 658 shares of the shipping company’s stock valued at $27,000 after acquiring an additional 484 shares in the last quarter. AdvisorNet Financial Inc raised its holdings in Golar LNG by 108.5% during the first quarter. AdvisorNet Financial Inc now owns 515 shares of the shipping company’s stock worth $28,000 after purchasing an additional 268 shares in the last quarter. Zions Bancorporation National Association UT bought a new stake in Golar LNG during the fourth quarter worth approximately $44,000. EverSource Wealth Advisors LLC lifted its position in Golar LNG by 94.0% in the second quarter. EverSource Wealth Advisors LLC now owns 1,356 shares of the shipping company’s stock worth $56,000 after purchasing an additional 657 shares during the period. Finally, Brown Brothers Harriman & Co. acquired a new stake in Golar LNG in the fourth quarter worth approximately $65,000. 92.21% of the stock is owned by institutional investors and hedge funds.

Golar LNG Stock Up 1.9%

Golar LNG stock opened at $50.49 on Wednesday. The company has a 50-day simple moving average of $52.13 and a 200-day simple moving average of $47.58. The firm has a market capitalization of $5.12 billion, a P/E ratio of 36.59 and a beta of 0.02. The company has a debt-to-equity ratio of 1.14, a quick ratio of 2.57 and a current ratio of 2.57. Golar LNG has a one year low of $35.02 and a one year high of $57.79.

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

Golar LNG Dividend Announcement

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

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.