Golar LNG (NASDAQ:GLNG) Sets New 52-Week High at $34.65

Golar LNG Limited (NASDAQ:GLNG) hit a new 52-week high on Monday . The stock traded as high as $34.65 and last traded at $34.54, with a volume of 118938 shares changing hands. The stock had previously closed at $34.28.

Wall Street Analyst Weigh In

GLNG has been the topic of several analyst reports. Stifel Nicolaus increased their price objective on shares of Golar LNG from $34.00 to $55.00 and gave the company a “buy” rating in a report on Monday, June 24th. StockNews.com upgraded shares of Golar LNG from a “sell” rating to a “hold” rating in a report on Thursday. Deutsche Bank Aktiengesellschaft increased their price objective on shares of Golar LNG from $28.00 to $40.00 and gave the company a “buy” rating in a report on Wednesday, May 29th. Finally, BTIG Research increased their price objective on shares of Golar LNG from $36.00 to $45.00 and gave the company a “buy” rating in a report on Tuesday, June 25th. Three research analysts have rated the stock with a hold rating and three have given a buy rating to the company. According to MarketBeat, Golar LNG presently has a consensus rating of “Moderate Buy” and an average price target of $41.75.

Golar LNG Price Performance

The company has a debt-to-equity ratio of 0.34, a current ratio of 1.49 and a quick ratio of 1.49. The stock has a market cap of $3.63 billion, a P/E ratio of 32.65 and a beta of 0.64. The company’s 50 day simple moving average is $28.50 and its 200 day simple moving average is $24.98.

Golar LNG (NASDAQ:GLNG) last issued its earnings results on Tuesday, May 28th. The shipping company reported $0.45 EPS for the quarter, beating the consensus estimate of $0.44 by $0.01. Golar LNG had a net margin of 38.11% and a return on equity of 10.15%. The firm had revenue of $63.19 million during the quarter, compared to the consensus estimate of $72.27 million. As a group, equities analysts forecast that Golar LNG Limited will post 1.88 earnings per share for the current year.

Golar LNG Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Monday, June 17th. Stockholders of record on Monday, June 10th were given a dividend of $0.25 per share. This represents a $1.00 annualized dividend and a dividend yield of 2.88%. The ex-dividend date was Monday, June 10th. Golar LNG’s dividend payout ratio is 95.24%.

Institutional Investors Weigh In On Golar LNG

Large investors have recently made changes to their positions in the stock. Lowe Wealth Advisors LLC bought a new stake in shares of Golar LNG during the second quarter worth $45,000. Headlands Technologies LLC acquired a new stake in Golar LNG in the fourth quarter valued at $117,000. Zurcher Kantonalbank Zurich Cantonalbank lifted its stake in Golar LNG by 26,805.3% in the fourth quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 5,112 shares of the shipping company’s stock valued at $118,000 after acquiring an additional 5,093 shares during the last quarter. Cetera Trust Company N.A acquired a new stake in shares of Golar LNG during the 4th quarter worth about $133,000. Finally, Lake Hills Wealth Management LLC acquired a new stake in shares of Golar LNG during the 2nd quarter worth about $212,000. Institutional investors own 92.21% of the company’s stock.

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.