Golar LNG Limited (NASDAQ:GLNG) Receives Consensus Rating of “Buy” from Brokerages

Golar LNG Limited (NASDAQ:GLNG) has been given a consensus rating of “Buy” by the six brokerages that are covering the company, Marketbeat Ratings reports. One research analyst has rated the stock with a hold rating, four have issued a buy rating and one has assigned a strong buy rating to the company. The average 1-year price objective among analysts that have updated their coverage on the stock in the last year is $50.13.

A number of equities research analysts have issued reports on GLNG shares. DNB Markets lowered shares of Golar LNG from a “buy” rating to a “hold” rating in a report on Wednesday, February 19th. Stifel Nicolaus raised their target price on Golar LNG from $53.00 to $55.00 and gave the stock a “buy” rating in a research note on Tuesday, December 24th. StockNews.com raised Golar LNG to a “sell” rating in a research report on Thursday, March 20th. Finally, Fearnley Fonds upgraded Golar LNG from a “hold” rating to a “strong-buy” rating in a report on Wednesday, March 19th.

Golar LNG Stock Performance

Shares of Golar LNG stock opened at $40.67 on Thursday. Golar LNG has a 52-week low of $23.45 and a 52-week high of $44.36. The company’s 50 day moving average price is $38.83 and its 200-day moving average price is $38.51. The stock has a market capitalization of $4.25 billion, a price-to-earnings ratio of 290.52 and a beta of 0.78.

Golar LNG Dividend Announcement

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

Institutional Trading of Golar LNG

Several large investors have recently bought and sold shares of GLNG. Naria Inc. purchased a new position in shares of Golar LNG in the 4th quarter valued at approximately $435,226,000. Millennium Management LLC raised its holdings in Golar LNG by 49.2% in the fourth quarter. Millennium Management LLC now owns 4,638,045 shares of the shipping company’s stock worth $196,282,000 after purchasing an additional 1,529,884 shares in the last quarter. Healthcare of Ontario Pension Plan Trust Fund lifted its position in Golar LNG by 467.9% during the third quarter. Healthcare of Ontario Pension Plan Trust Fund now owns 2,237,000 shares of the shipping company’s stock valued at $82,232,000 after buying an additional 1,843,100 shares during the period. State Street Corp boosted its holdings in shares of Golar LNG by 5.2% during the 3rd quarter. State Street Corp now owns 1,920,590 shares of the shipping company’s stock valued at $70,601,000 after buying an additional 94,336 shares in the last quarter. Finally, Encompass Capital Advisors LLC purchased a new stake in shares of Golar LNG in the 4th quarter worth about $55,413,000. 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.