Golar LNG (NASDAQ:GLNG) Stock Price Passes Above Two Hundred Day Moving Average – What’s Next?

Golar LNG Limited (NASDAQ:GLNG)’s stock price crossed above its 200-day moving average during trading on Tuesday . The stock has a 200-day moving average of $47.58 and traded as high as $51.10. Golar LNG shares last traded at $50.49, with a volume of 961,394 shares changing hands.

Wall Street Analyst Weigh In

Several brokerages have commented on GLNG. The Goldman Sachs Group set a $66.00 price target on Golar LNG and gave the stock a “conviction-buy” rating in a research report on Tuesday. Deutsche Bank Aktiengesellschaft restated a “buy” rating and issued a $65.00 price objective on shares of Golar LNG in a research note on Thursday, May 21st. BTIG Research reaffirmed a “buy” rating and set a $67.00 target price on shares of Golar LNG in a research report on Wednesday, May 20th. Weiss Ratings upgraded shares of Golar LNG from a “hold (c+)” rating to a “buy (b-)” rating in a research note on Tuesday, June 23rd. Finally, Pareto Securities downgraded shares of Golar LNG from a “strong-buy” rating to a “hold” rating in a report on Thursday, May 21st. One research analyst has rated the stock with a Strong Buy rating, four have assigned a Buy rating and three have issued a Hold rating to the company’s stock. Based on data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average target price of $58.70.

Golar LNG Stock Down 1.2%

The business’s fifty day moving average price is $52.06 and its 200 day moving average price is $47.78. The company has a market capitalization of $5.15 billion, a P/E ratio of 36.86 and a beta of 0.02. The company has a current ratio of 2.57, a quick ratio of 2.57 and a debt-to-equity ratio of 1.14.

Golar LNG (NASDAQ:GLNG) last posted its quarterly earnings results on Thursday, March 26th. The shipping company reported $0.82 earnings per share (EPS) for the quarter. The firm had revenue of $137.55 million during the quarter. Golar LNG had a net margin of 30.10% and a return on equity of 6.86%. As a group, equities research analysts predict that Golar LNG Limited will post 0.72 earnings per share for the current fiscal year.

Golar LNG Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Wednesday, June 10th. Investors of record on Monday, June 1st were paid a $0.25 dividend. The ex-dividend date of this dividend was Monday, June 1st. This represents a $1.00 annualized dividend and a yield of 2.0%. Golar LNG’s payout ratio is currently 72.46%.

Institutional Investors Weigh In On Golar LNG

Several institutional investors and hedge funds have recently made changes to their positions in the company. Militia Capital Management LLC acquired a new stake in Golar LNG in the 1st quarter valued at about $1,623,000. NewEdge Advisors LLC grew its stake in shares of Golar LNG by 18,550.0% during the first quarter. NewEdge Advisors LLC now owns 9,325 shares of the shipping company’s stock valued at $505,000 after purchasing an additional 9,275 shares during the last quarter. Arkadios Wealth Advisors acquired a new stake in shares of Golar LNG in the first quarter valued at approximately $284,000. Amundi increased its stake in shares of Golar LNG by 75.7% in the 1st quarter. Amundi now owns 31,874 shares of the shipping company’s stock valued at $1,725,000 after buying an additional 13,731 shares during the period. Finally, EverSource Wealth Advisors LLC raised its holdings in Golar LNG by 17.0% during the 1st quarter. EverSource Wealth Advisors LLC now owns 1,532 shares of the shipping company’s stock worth $83,000 after purchasing an additional 223 shares during the last quarter. 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.