Golar LNG (NASDAQ:GLNG) Reaches New 52-Week High – Here’s What Happened

Golar LNG Limited (NASDAQ:GLNG) shares reached a new 52-week high during mid-day trading on Wednesday . The company traded as high as $43.95 and last traded at $43.87, with a volume of 920716 shares. The stock had previously closed at $42.68.

Analysts Set New Price Targets

GLNG has been the topic of a number of recent analyst reports. StockNews.com raised shares of Golar LNG to a “sell” rating in a research report on Monday. Deutsche Bank Aktiengesellschaft boosted their target price on Golar LNG from $43.00 to $56.00 and gave the stock a “buy” rating in a research note on Friday, August 16th. Fearnley Fonds downgraded Golar LNG from a “strong-buy” rating to a “hold” rating in a research report on Wednesday, November 13th. Finally, Stifel Nicolaus dropped their price target on Golar LNG from $55.00 to $53.00 and set a “buy” rating on the stock in a report on Friday, August 16th. One research analyst has rated the stock with a sell rating, one has issued a hold rating and four have assigned a buy rating to the company. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $49.63.

Golar LNG Stock Down 0.3 %

The stock’s 50-day moving average price is $38.25 and its two-hundred day moving average price is $34.25. The company has a current ratio of 1.55, a quick ratio of 1.28 and a debt-to-equity ratio of 0.41. The stock has a market capitalization of $4.54 billion, a P/E ratio of 310.59 and a beta of 0.61.

Golar LNG Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Monday, December 2nd. Shareholders of record on Monday, November 25th were issued a dividend of $0.25 per share. This represents a $1.00 annualized dividend and a yield of 2.30%. The ex-dividend date was Monday, November 25th. Golar LNG’s dividend payout ratio (DPR) is 714.34%.

Institutional Trading of Golar LNG

Several hedge funds have recently made changes to their positions in the company. Tidal Investments LLC increased its holdings in Golar LNG by 101.6% in the 3rd quarter. Tidal Investments LLC now owns 38,076 shares of the shipping company’s stock worth $1,400,000 after acquiring an additional 19,189 shares during the last quarter. Barclays PLC boosted its position in Golar LNG by 431.3% during the third quarter. Barclays PLC now owns 185,018 shares of the shipping company’s stock worth $6,802,000 after purchasing an additional 150,195 shares during the period. Public Employees Retirement System of Ohio purchased a new position in shares of Golar LNG in the third quarter worth about $32,000. Luxor Capital Group LP bought a new stake in shares of Golar LNG in the third quarter valued at approximately $10,286,000. Finally, Brookfield Corp ON lifted its stake in shares of Golar LNG by 180.8% during the 3rd quarter. Brookfield Corp ON now owns 849,959 shares of the shipping company’s stock valued at $31,244,000 after buying an additional 547,253 shares in the last quarter. 92.21% of the stock is currently 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.