Golar LNG (NASDAQ:GLNG) Reaches New 52-Week High – Time to Buy?

Golar LNG Limited (NASDAQ:GLNG)’s stock price hit a new 52-week high on Wednesday . The stock traded as high as $47.62 and last traded at $47.4260, with a volume of 806372 shares traded. The stock had previously closed at $46.31.

Analysts Set New Price Targets

A number of research analysts have issued reports on GLNG shares. The Goldman Sachs Group set a $56.00 price target on Golar LNG in a report on Monday, February 2nd. Zacks Research raised shares of Golar LNG from a “strong sell” rating to a “hold” rating in a report on Monday, January 5th. BTIG Research raised their price target on shares of Golar LNG from $50.00 to $53.00 and gave the company a “buy” rating in a research report on Wednesday, February 25th. Weiss Ratings reaffirmed a “hold (c+)” rating on shares of Golar LNG in a report on Monday, December 29th. Finally, Wall Street Zen downgraded shares of Golar LNG from a “hold” rating to a “sell” rating in a research report on Saturday, February 28th. Three investment 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, Golar LNG currently has an average rating of “Buy” and a consensus target price of $50.50.

Golar LNG Stock Up 3.3%

The stock has a market cap of $5.00 billion, a PE ratio of 74.77 and a beta of 0.18. The business has a 50-day moving average price of $42.63 and a 200-day moving average price of $40.22. The company has a current ratio of 2.55, a quick ratio of 1.32 and a debt-to-equity ratio of 1.19.

Golar LNG (NASDAQ:GLNG) last posted its quarterly earnings data on Wednesday, February 25th. The shipping company reported $0.30 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.38 by ($0.08). The company had revenue of $132.81 million for the quarter, compared to analysts’ expectations of $123.29 million. Golar LNG had a net margin of 16.69% and a return on equity of 6.24%. As a group, analysts forecast that Golar LNG Limited will post 1.39 earnings per share for the current year.

Golar LNG Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Wednesday, March 18th. Shareholders of record on Monday, March 9th will be issued a dividend of $0.25 per share. The ex-dividend date of this dividend is Monday, March 9th. This represents a $1.00 dividend on an annualized basis and a dividend yield of 2.1%. Golar LNG’s dividend payout ratio is presently 156.25%.

Institutional Trading of Golar LNG

A number of institutional investors have recently made changes to their positions in the company. Rubric Capital Management LP raised its stake in Golar LNG by 2.3% in the 2nd quarter. Rubric Capital Management LP now owns 9,178,978 shares of the shipping company’s stock valued at $378,082,000 after purchasing an additional 203,829 shares during the last quarter. PointState Capital LP grew its holdings in shares of Golar LNG by 19.3% during the fourth quarter. PointState Capital LP now owns 3,932,104 shares of the shipping company’s stock worth $146,314,000 after buying an additional 637,081 shares in the last quarter. T. Rowe Price Investment Management Inc. raised its position in shares of Golar LNG by 253.7% in the fourth quarter. T. Rowe Price Investment Management Inc. now owns 2,306,379 shares of the shipping company’s stock valued at $85,821,000 after buying an additional 1,654,353 shares during the last quarter. Morgan Stanley lifted its stake in shares of Golar LNG by 14.0% in the fourth quarter. Morgan Stanley now owns 2,110,671 shares of the shipping company’s stock worth $78,538,000 after buying an additional 259,915 shares in the last quarter. Finally, Cartenna Capital LP boosted its position in Golar LNG by 13.2% during the third quarter. Cartenna Capital LP now owns 1,925,000 shares of the shipping company’s stock worth $77,789,000 after acquiring an additional 225,000 shares during the last quarter. 92.21% of the stock is owned by institutional investors and hedge funds.

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.