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

Shares of Golar LNG Limited (NASDAQ:GLNG) have earned an average recommendation of “Buy” from the four analysts that are currently covering the company, MarketBeat reports. Four analysts have rated the stock with a buy rating. The average 1-year price target among brokers that have updated their coverage on the stock in the last year is $49.63.

Several equities analysts have recently weighed in on GLNG shares. B. Riley upped their price objective on shares of Golar LNG from $35.50 to $44.50 and gave the company a “buy” rating in a report on Friday, July 19th. Stifel Nicolaus decreased their price objective on shares of Golar LNG from $55.00 to $53.00 and set a “buy” rating for the company in a research note on Friday, August 16th. StockNews.com raised shares of Golar LNG to a “sell” rating in a research report on Wednesday. Fearnley Fonds downgraded shares of Golar LNG from a “strong-buy” rating to a “hold” rating in a research report on Wednesday. Finally, Deutsche Bank Aktiengesellschaft raised their price objective on shares of Golar LNG from $43.00 to $56.00 and gave the stock a “buy” rating in a report on Friday, August 16th.

Golar LNG Stock Performance

Shares of Golar LNG stock opened at $34.99 on Friday. The company has a quick ratio of 1.28, a current ratio of 1.24 and a debt-to-equity ratio of 0.31. The stock has a market cap of $3.65 billion, a price-to-earnings ratio of 26.11 and a beta of 0.58. The company’s fifty day moving average is $36.13 and its 200 day moving average is $32.37. Golar LNG has a twelve month low of $19.94 and a twelve month high of $39.40.

Golar LNG (NASDAQ:GLNG) last issued its quarterly earnings results on Thursday, August 15th. The shipping company reported $0.42 EPS for the quarter, missing analysts’ consensus estimates of $0.44 by ($0.02). The firm had revenue of $62.98 million for the quarter, compared to the consensus estimate of $67.38 million. Golar LNG had a net margin of 50.89% and a return on equity of 9.20%. Sell-side analysts forecast that Golar LNG will post 1.53 EPS for the current year.

Golar LNG Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Monday, December 2nd. Stockholders of record on Monday, November 25th will be given a dividend of $0.25 per share. This represents a $1.00 annualized dividend and a dividend yield of 2.86%. The ex-dividend date of this dividend is Monday, November 25th. Golar LNG’s dividend payout ratio (DPR) is currently 74.63%.

Institutional Trading of Golar LNG

Several institutional investors and hedge funds have recently made changes to their positions in the stock. Blue Trust Inc. raised its position in Golar LNG by 105.1% in the 3rd quarter. Blue Trust Inc. now owns 1,372 shares of the shipping company’s stock worth $50,000 after purchasing an additional 703 shares during the period. Sound Income Strategies LLC purchased a new position in shares of Golar LNG during the third quarter valued at about $52,000. Lowe Wealth Advisors LLC purchased a new stake in Golar LNG in the second quarter worth about $45,000. CWM LLC grew its holdings in Golar LNG by 830.9% in the third quarter. CWM LLC now owns 1,657 shares of the shipping company’s stock worth $61,000 after purchasing an additional 1,479 shares during the period. Finally, EverSource Wealth Advisors LLC grew its holdings in Golar LNG by 206.2% in the second quarter. EverSource Wealth Advisors LLC now owns 1,727 shares of the shipping company’s stock worth $54,000 after purchasing an additional 1,163 shares during the period. Hedge funds and other institutional investors own 92.21% of the company’s stock.

About Golar LNG

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.