Golar LNG (NASDAQ:GLNG) Shares Gap Up – Still a Buy?

Golar LNG Limited (NASDAQ:GLNG) shares gapped up prior to trading on Wednesday . The stock had previously closed at $35.04, but opened at $36.21. Golar LNG shares last traded at $36.83, with a volume of 90,093 shares trading hands.

Wall Street Analysts Forecast Growth

Several brokerages have issued reports on GLNG. StockNews.com upgraded Golar LNG to a “sell” rating in a research report on Thursday. DNB Markets downgraded Golar LNG from a “buy” rating to a “hold” rating in a research report on Wednesday, February 19th. Finally, Stifel Nicolaus lifted their price objective on Golar LNG from $53.00 to $55.00 and gave the company a “buy” rating in a research report on Tuesday, December 24th. One research analyst has rated the stock with a sell rating, two have given a hold rating and four have issued a buy rating to the stock. According to MarketBeat, the company presently has an average rating of “Hold” and a consensus target price of $50.13.

Golar LNG Stock Up 3.0 %

The company has a market cap of $4.00 billion, a P/E ratio of 273.59 and a beta of 0.78. The business has a 50-day moving average price of $38.92 and a two-hundred day moving average price of $38.33.

Golar LNG Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, March 18th. Investors of record on Tuesday, March 11th were issued a $0.25 dividend. The ex-dividend date was Tuesday, March 11th. This represents a $1.00 dividend on an annualized basis and a yield of 2.61%. Golar LNG’s dividend payout ratio is presently 208.33%.

Institutional Investors Weigh In On Golar LNG

A number of institutional investors and hedge funds have recently added to or reduced their stakes in GLNG. Intech Investment Management LLC bought a new stake in Golar LNG in the third quarter valued at about $1,165,000. Quantbot Technologies LP bought a new stake in Golar LNG in the third quarter valued at about $3,981,000. BNP Paribas Financial Markets increased its holdings in Golar LNG by 5.4% in the third quarter. BNP Paribas Financial Markets now owns 26,694 shares of the shipping company’s stock valued at $981,000 after purchasing an additional 1,360 shares during the last quarter. Healthcare of Ontario Pension Plan Trust Fund grew its stake in Golar LNG by 467.9% in 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 acquiring an additional 1,843,100 shares during the period. Finally, De Lisle Partners LLP grew its stake in Golar LNG by 9.1% in the third quarter. De Lisle Partners LLP now owns 249,390 shares of the shipping company’s stock valued at $9,169,000 after acquiring an additional 20,890 shares during the period. 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.