Golar LNG (NASDAQ:GLNG) Reaches New 12-Month High – Still a Buy?

Golar LNG Limited (NASDAQ:GLNG) hit a new 52-week high during mid-day trading on Thursday . The company traded as high as $56.21 and last traded at $55.6170, with a volume of 1190692 shares traded. The stock had previously closed at $53.65.

Wall Street Analysts Forecast Growth

GLNG has been the subject of several analyst reports. BTIG Research boosted their price target on Golar LNG from $50.00 to $53.00 and gave the company a “buy” rating in a report on Wednesday, February 25th. Zacks Research raised Golar LNG from a “strong sell” rating to a “hold” rating in a research report on Monday, January 5th. The Goldman Sachs Group set a $56.00 target price on Golar LNG in a research note on Monday, February 2nd. Weiss Ratings reiterated a “hold (c+)” rating on shares of Golar LNG in a research report on Monday, December 29th. Finally, Wall Street Zen upgraded Golar LNG from a “sell” rating to a “hold” rating in a report on Saturday, March 28th. Two equities research analysts have rated the stock with a Strong Buy rating, three have given a Buy rating and three have assigned a Hold rating to the stock. Based on data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average target price of $50.50.

Golar LNG Stock Performance

The company has a market cap of $5.62 billion, a PE ratio of 87.14 and a beta of 0.11. The stock’s 50 day simple moving average is $45.64 and its two-hundred day simple moving average is $41.05. The company has a quick ratio of 2.55, a current ratio of 2.55 and a debt-to-equity ratio of 1.19.

Golar LNG (NASDAQ:GLNG) last released its quarterly earnings data on Saturday, February 14th. The shipping company reported $0.09 EPS for the quarter. The business had revenue of $132.81 million during the quarter. Golar LNG had a return on equity of 6.24% and a net margin of 16.69%. As a group, research analysts anticipate that Golar LNG Limited will post 1.39 earnings per share for the current year.

Golar LNG Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Wednesday, March 18th. Shareholders of record on Monday, March 9th were paid a dividend of $0.25 per share. The ex-dividend date was Monday, March 9th. This represents a $1.00 annualized dividend and a yield of 1.8%. Golar LNG’s dividend payout ratio is currently 156.25%.

Hedge Funds Weigh In On Golar LNG

Several hedge funds and other institutional investors have recently modified their holdings of the company. Tejara Capital Ltd increased its position in Golar LNG by 44.0% during the 3rd quarter. Tejara Capital Ltd now owns 196,526 shares of the shipping company’s stock worth $7,942,000 after purchasing an additional 60,093 shares in the last quarter. Permanent Capital Management LP acquired a new position in Golar LNG during the third quarter valued at approximately $2,114,000. Huber Capital Management LLC grew its stake in Golar LNG by 12.4% during the third quarter. Huber Capital Management LLC now owns 923,718 shares of the shipping company’s stock worth $37,327,000 after buying an additional 102,200 shares during the period. King Luther Capital Management Corp purchased a new stake in Golar LNG during the third quarter worth approximately $1,179,000. Finally, ARS Investment Partners LLC increased its position in shares of Golar LNG by 14.7% in the third quarter. ARS Investment Partners LLC now owns 296,059 shares of the shipping company’s stock worth $11,964,000 after acquiring an additional 38,040 shares in the last quarter. 92.21% of the stock is owned by institutional investors and hedge funds.

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.