Golar LNG (NASDAQ:GLNG) Sees Large Volume Increase – What’s Next?

Golar LNG Limited (NASDAQ:GLNG) shares saw strong trading volume on Monday . 2,265,243 shares changed hands during trading, an increase of 86% from the previous session’s volume of 1,219,820 shares.The stock last traded at $40.02 and had previously closed at $37.76.

Analyst Upgrades and Downgrades

A number of analysts have commented on the stock. Fearnley Fonds upgraded shares of Golar LNG from a “hold” rating to a “strong-buy” rating in a research note on Wednesday, March 19th. DNB Markets downgraded shares of Golar LNG from a “buy” rating to a “hold” rating in a research note on Wednesday, February 19th. Stifel Nicolaus lifted their price target on Golar LNG from $53.00 to $55.00 and gave the stock a “buy” rating in a report on Tuesday, December 24th. Finally, StockNews.com upgraded Golar LNG to a “sell” rating in a research note on Thursday. One analyst has rated the stock with a sell rating, one has assigned a hold rating, four have issued a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat.com, Golar LNG has an average rating of “Moderate Buy” and a consensus price target of $50.13.

Golar LNG Stock Performance

The company’s fifty day simple moving average is $38.85 and its two-hundred day simple moving average is $38.45. The stock has a market capitalization of $4.25 billion, a P/E ratio of 290.81 and a beta of 0.78.

Golar LNG Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Tuesday, March 18th. Stockholders of record on Tuesday, March 11th were given a $0.25 dividend. The ex-dividend date was Tuesday, March 11th. This represents a $1.00 dividend on an annualized basis and a dividend yield of 2.46%. Golar LNG’s payout ratio is presently 208.33%.

Hedge Funds Weigh In On Golar LNG

A number of hedge funds have recently bought and sold shares of the business. Summit Investment Advisors Inc. grew its position in shares of Golar LNG by 3.3% during the 4th quarter. Summit Investment Advisors Inc. now owns 10,354 shares of the shipping company’s stock worth $438,000 after purchasing an additional 328 shares in the last quarter. Mariner LLC boosted its stake in shares of Golar LNG by 7.4% in the fourth quarter. Mariner LLC now owns 5,995 shares of the shipping company’s stock valued at $254,000 after buying an additional 414 shares during the period. Kingswood Wealth Advisors LLC grew its position in Golar LNG by 5.0% during the fourth quarter. Kingswood Wealth Advisors LLC now owns 10,500 shares of the shipping company’s stock worth $444,000 after buying an additional 500 shares in the last quarter. Metis Global Partners LLC increased its stake in Golar LNG by 9.8% during the 4th quarter. Metis Global Partners LLC now owns 5,996 shares of the shipping company’s stock worth $254,000 after acquiring an additional 534 shares during the period. Finally, Public Employees Retirement System of Ohio acquired a new position in Golar LNG in the 3rd quarter valued at $32,000. 92.21% of the stock is owned by institutional investors.

Golar LNG Company Profile

Golar LNG Limited designs, converts, owns, and operates marine infrastructure for the liquefaction of natural gas. The company operates through three segments: FLNG, Corporate and Other, and Shipping. It engages in the regasification, storage, and offloading of liquefied natural gas (LNG); operation of floating liquefaction natural gas (FLNG) vessels or projects; transportation of LNG carriers; and vessel management activities.