Analysts Set Golar LNG Limited (NASDAQ:GLNG) PT at $50.50

Shares of Golar LNG Limited (NASDAQ:GLNG) have received a consensus recommendation of “Moderate Buy” from the eight brokerages that are currently covering the stock, MarketBeat Ratings reports. Three investment analysts have rated the stock with a hold rating, three have assigned a buy rating and two have assigned a strong buy rating to the company. The average twelve-month target price among analysts that have issued a report on the stock in the last year is $50.50.

GLNG has been the topic of several research reports. The Goldman Sachs Group set a $56.00 price target on shares of Golar LNG in a research report on Monday, February 2nd. Wall Street Zen upgraded shares of Golar LNG from a “sell” rating to a “hold” rating in a research note on Saturday, March 28th. Weiss Ratings reissued a “hold (c+)” rating on shares of Golar LNG in a report on Monday, December 29th. BTIG Research increased their target price on Golar LNG from $50.00 to $53.00 and gave the stock a “buy” rating in a research report on Wednesday, February 25th. Finally, Zacks Research upgraded Golar LNG from a “strong sell” rating to a “hold” rating in a research note on Monday, January 5th.

Hedge Funds Weigh In On Golar LNG

A number of large investors have recently modified their holdings of the company. Rubric Capital Management LP grew its stake in Golar LNG by 2.3% during the second quarter. Rubric Capital Management LP now owns 9,178,978 shares of the shipping company’s stock valued at $378,082,000 after acquiring an additional 203,829 shares in the last quarter. PointState Capital LP lifted its stake in Golar LNG by 19.3% in the 4th quarter. PointState Capital LP now owns 3,932,104 shares of the shipping company’s stock worth $146,314,000 after purchasing an additional 637,081 shares in the last quarter. T. Rowe Price Investment Management Inc. boosted its holdings in Golar LNG by 253.7% in the 4th 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 purchasing an additional 1,654,353 shares during the period. Morgan Stanley grew its position in shares of Golar LNG by 14.0% during the 4th quarter. Morgan Stanley now owns 2,110,671 shares of the shipping company’s stock valued at $78,538,000 after purchasing an additional 259,915 shares in the last quarter. Finally, Cartenna Capital LP grew its position in shares of Golar LNG by 13.2% during the 3rd quarter. Cartenna Capital LP now owns 1,925,000 shares of the shipping company’s stock valued at $77,789,000 after purchasing an additional 225,000 shares in the last quarter. 92.21% of the stock is currently owned by institutional investors.

Golar LNG Stock Down 0.9%

GLNG stock opened at $53.65 on Monday. The stock has a fifty day moving average of $45.64 and a 200-day moving average of $41.05. Golar LNG has a fifty-two week low of $29.56 and a fifty-two week high of $55.80. The company has a market capitalization of $5.44 billion, a price-to-earnings ratio of 83.83 and a beta of 0.11. The company has a debt-to-equity ratio of 1.19, a quick ratio of 2.55 and a current ratio of 2.55.

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

Golar LNG Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Wednesday, March 18th. Stockholders of record on Monday, March 9th were given a dividend of $0.25 per share. The ex-dividend date was Monday, March 9th. This represents a $1.00 annualized dividend and a dividend yield of 1.9%. Golar LNG’s dividend payout ratio is currently 156.25%.

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.