Golar LNG Limited (NASDAQ:GLNG) Given Consensus Rating of “Moderate Buy” by Brokerages

Shares of Golar LNG Limited (NASDAQ:GLNG) have received a consensus rating of “Moderate Buy” from the six analysts that are currently covering the firm, MarketBeat Ratings reports. Two investment analysts have rated the stock with a hold rating and four have assigned a buy rating to the company. The average 1-year target price among analysts that have issued a report on the stock in the last year is $50.13.

GLNG has been the subject of a number of research reports. Stifel Nicolaus raised their target price on Golar LNG from $53.00 to $55.00 and gave the company a “buy” rating in a research note on Tuesday, December 24th. Fearnley Fonds lowered Golar LNG from a “strong-buy” rating to a “hold” rating in a research note on Wednesday, November 13th. StockNews.com upgraded Golar LNG to a “sell” rating in a research note on Monday, December 9th. Finally, DNB Markets lowered Golar LNG from a “buy” rating to a “hold” rating in a research note on Wednesday, February 19th.

Institutional Trading of Golar LNG

Hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Barclays PLC increased its position in Golar LNG by 431.3% in 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. De Lisle Partners LLP boosted its holdings in Golar LNG by 9.1% during the third quarter. De Lisle Partners LLP now owns 249,390 shares of the shipping company’s stock worth $9,169,000 after buying an additional 20,890 shares during the last quarter. Healthcare of Ontario Pension Plan Trust Fund boosted its holdings 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 worth $82,232,000 after buying an additional 1,843,100 shares during the last quarter. JPMorgan Chase & Co. boosted its holdings in Golar LNG by 37.0% during the third quarter. JPMorgan Chase & Co. now owns 218,971 shares of the shipping company’s stock worth $8,049,000 after buying an additional 59,188 shares during the last quarter. Finally, Royce & Associates LP boosted its holdings in Golar LNG by 102.5% during the third quarter. Royce & Associates LP now owns 81,000 shares of the shipping company’s stock worth $2,978,000 after buying an additional 41,000 shares during the last quarter. 92.21% of the stock is currently owned by institutional investors and hedge funds.

Golar LNG Stock Performance

Shares of NASDAQ GLNG opened at $38.34 on Friday. The stock has a market cap of $4.00 billion, a PE ratio of 273.88 and a beta of 0.55. The business has a fifty day moving average of $41.13 and a two-hundred day moving average of $38.17. Golar LNG has a 52-week low of $20.38 and a 52-week high of $44.36.

Golar LNG Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, March 18th. Investors of record on Tuesday, March 11th will be given a $0.25 dividend. The ex-dividend date is Tuesday, March 11th. This represents a $1.00 dividend on an annualized basis and a yield of 2.61%. Golar LNG’s payout ratio is 714.29%.

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.