Golar LNG Limited (NASDAQ:GLNG) Receives $49.50 Consensus PT from Analysts

Golar LNG Limited (NASDAQ:GLNG) has been given an average rating of “Buy” by the nine brokerages that are covering the company, Marketbeat Ratings reports. Three analysts have rated the stock with a hold recommendation, three have issued a buy recommendation and three have assigned a strong buy recommendation to the company. The average twelve-month price target among brokerages that have updated their coverage on the stock in the last year is $49.50.

GLNG has been the topic of several research reports. The Goldman Sachs Group started coverage on Golar LNG in a research note on Monday, September 29th. They set a “buy” rating and a $54.00 target price on the stock. Weiss Ratings reissued a “hold (c+)” rating on shares of Golar LNG in a research note on Monday, December 29th. Wall Street Zen downgraded shares of Golar LNG from a “hold” rating to a “sell” rating in a research note on Saturday, December 20th. Citigroup assumed coverage on shares of Golar LNG in a report on Friday, October 10th. They set a “buy” rating and a $51.00 target price on the stock. Finally, Zacks Research upgraded shares of Golar LNG from a “strong sell” rating to a “hold” rating in a research note on Monday, January 5th.

Golar LNG Price Performance

Golar LNG stock opened at $39.60 on Wednesday. The company has a current ratio of 1.32, a quick ratio of 1.32 and a debt-to-equity ratio of 0.61. The company has a 50-day moving average price of $37.71 and a 200 day moving average price of $39.69. Golar LNG has a 12-month low of $29.56 and a 12-month high of $45.98. The stock has a market cap of $4.14 billion, a P/E ratio of 69.47 and a beta of 0.18.

Golar LNG Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Monday, November 24th. Stockholders of record on Monday, November 17th were paid a $0.25 dividend. This represents a $1.00 annualized dividend and a dividend yield of 2.5%. The ex-dividend date was Monday, November 17th. Golar LNG’s dividend payout ratio (DPR) is presently 175.44%.

Institutional Trading of Golar LNG

Several hedge funds have recently added to or reduced their stakes in GLNG. Caitong International Asset Management Co. Ltd grew its holdings in Golar LNG by 278.2% during the 3rd quarter. Caitong International Asset Management Co. Ltd now owns 658 shares of the shipping company’s stock worth $27,000 after acquiring an additional 484 shares in the last quarter. Signaturefd LLC lifted its position in shares of Golar LNG by 64.6% during the 2nd 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. Smartleaf Asset Management LLC grew its stake in shares of Golar LNG by 281.9% during the third quarter. Smartleaf Asset Management LLC now owns 909 shares of the shipping company’s stock worth $37,000 after purchasing an additional 671 shares in the last quarter. Allworth Financial LP increased its holdings in Golar LNG by 43.5% in the second quarter. Allworth Financial LP now owns 990 shares of the shipping company’s stock valued at $41,000 after buying an additional 300 shares during the last quarter. Finally, Crossingbridge Advisors LLC acquired a new stake in Golar LNG in the second quarter valued at $41,000. Institutional investors and hedge funds own 92.21% of the company’s stock.

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.