Golar LNG Limited (NASDAQ:GLNG) Receives $63.00 Average Price Target from Brokerages

Golar LNG Limited (NASDAQ:GLNG) has received an average rating of “Moderate Buy” from the seven brokerages that are presently covering the company, Marketbeat Ratings reports. Two research analysts have rated the stock with a hold recommendation, four have assigned a buy recommendation and one has given a strong buy recommendation to the company. The average twelve-month price objective among brokerages that have updated their coverage on the stock in the last year is $63.00.

Several research analysts recently issued reports on the stock. Pareto Securities upgraded shares of Golar LNG from a “hold” rating to a “buy” rating in a research report on Monday, August 24th. Deutsche Bank Aktiengesellschaft restated a “buy” rating and issued a $65.00 price objective on shares of Golar LNG in a research report on Thursday, May 21st. Weiss Ratings downgraded shares of Golar LNG from a “buy (b-)” rating to a “hold (c+)” rating in a research note on Friday, August 21st. Wall Street Zen lowered shares of Golar LNG from a “hold” rating to a “sell” rating in a report on Saturday, June 27th. Finally, The Goldman Sachs Group set a $66.00 price target on shares of Golar LNG and gave the company a “conviction-buy” rating in a report on Tuesday, July 7th.

Hedge Funds Weigh In On Golar LNG

Several large investors have recently made changes to their positions in GLNG. T. Rowe Price Investment Management Inc. increased its position in 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 worth $85,821,000 after purchasing an additional 1,654,353 shares during the period. Rokos Capital Management LLP acquired a new position in Golar LNG during the 1st quarter valued at about $63,293,000. Verbena Value LP acquired a new stake in shares of Golar LNG during the 4th quarter worth approximately $38,497,000. Clearline Capital LP lifted its holdings in Golar LNG by 172.6% in the fourth quarter. Clearline Capital LP now owns 1,067,153 shares of the shipping company’s stock valued at $39,709,000 after buying an additional 675,744 shares during the period. Finally, PointState Capital LP boosted its stake in Golar LNG by 19.3% in the fourth quarter. PointState Capital LP now owns 3,932,104 shares of the shipping company’s stock valued at $146,314,000 after acquiring an additional 637,081 shares during the last quarter. Institutional investors and hedge funds own 92.21% of the company’s stock.

Golar LNG Price Performance

Shares of GLNG stock opened at $53.13 on Thursday. Golar LNG has a 52 week low of $35.02 and a 52 week high of $57.79. The stock has a market capitalization of $5.38 billion, a PE ratio of 33.21 and a beta of 0.05. The company has a debt-to-equity ratio of 1.11, a quick ratio of 2.34 and a current ratio of 2.34. The stock’s fifty day moving average is $50.49 and its 200-day moving average is $50.80.

Golar LNG Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Wednesday, September 2nd. Stockholders of record on Monday, August 24th were paid a $0.25 dividend. This represents a $1.00 annualized dividend and a dividend yield of 1.9%. The ex-dividend date of this dividend was Monday, August 24th. Golar LNG’s dividend payout ratio (DPR) is 62.50%.

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.