Golar LNG (NASDAQ:GLNG) Price Target Raised to $55.00

Golar LNG (NASDAQ:GLNG) had its price objective boosted by Stifel Nicolaus from $53.00 to $55.00 in a research report released on Tuesday,Benzinga reports. Stifel Nicolaus currently has a buy rating on the shipping company’s stock.

A number of other brokerages have also recently commented on GLNG. StockNews.com upgraded Golar LNG to a “sell” rating in a report on Monday, December 9th. Fearnley Fonds downgraded shares of Golar LNG from a “strong-buy” rating to a “hold” rating in a research note on Wednesday, November 13th. One investment analyst has rated the stock with a sell rating, one has issued a hold rating and four have given a buy rating to the company’s stock. According to data from MarketBeat.com, Golar LNG presently has a consensus rating of “Moderate Buy” and an average price target of $50.13.

Golar LNG Stock Down 0.9 %

Shares of NASDAQ GLNG opened at $42.40 on Tuesday. The stock has a market capitalization of $4.43 billion, a price-to-earnings ratio of 302.88 and a beta of 0.61. Golar LNG has a 12-month low of $19.94 and a 12-month high of $44.08. The company has a current ratio of 1.55, a quick ratio of 1.28 and a debt-to-equity ratio of 0.41. The firm’s 50-day moving average price is $38.89 and its 200-day moving average price is $35.31.

Golar LNG Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Monday, December 2nd. Shareholders of record on Monday, November 25th were given a dividend of $0.25 per share. This represents a $1.00 annualized dividend and a dividend yield of 2.36%. The ex-dividend date of this dividend was Monday, November 25th. Golar LNG’s payout ratio is 714.29%.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently modified their holdings of the company. Healthcare of Ontario Pension Plan Trust Fund lifted its position in Golar LNG by 467.9% during the third quarter. Healthcare of Ontario Pension Plan Trust Fund now owns 2,237,000 shares of the shipping company’s stock valued at $82,232,000 after acquiring an additional 1,843,100 shares during the last quarter. Clearline Capital LP purchased a new stake in shares of Golar LNG during the 3rd quarter valued at $36,865,000. American Century Companies Inc. boosted its position in shares of Golar LNG by 53.7% in the 2nd quarter. American Century Companies Inc. now owns 1,732,655 shares of the shipping company’s stock worth $54,319,000 after purchasing an additional 605,499 shares in the last quarter. Brookfield Corp ON boosted its position in shares of Golar LNG by 180.8% in the 3rd quarter. Brookfield Corp ON now owns 849,959 shares of the shipping company’s stock worth $31,244,000 after purchasing an additional 547,253 shares in the last quarter. Finally, Appian Way Asset Management LP purchased a new position in Golar LNG during the 3rd quarter worth $15,351,000. Hedge funds and other 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.