Golar LNG (NASDAQ:GLNG) Sees Unusually-High Trading Volume – What’s Next?

Shares of Golar LNG Limited (NASDAQ:GLNG) saw strong trading volume on Monday . 2,265,243 shares were traded during mid-day trading, an increase of 86% from the previous session’s volume of 1,219,820 shares.The stock last traded at $40.02 and had previously closed at $37.76.

Wall Street Analyst Weigh In

Several brokerages recently weighed in on GLNG. DNB Markets downgraded Golar LNG from a “buy” rating to a “hold” rating in a research note on Wednesday, February 19th. StockNews.com raised Golar LNG to a “sell” rating in a research report on Thursday, March 20th. Stifel Nicolaus boosted their target price on shares of Golar LNG from $53.00 to $55.00 and gave the stock a “buy” rating in a research report on Tuesday, December 24th. Finally, Fearnley Fonds raised shares of Golar LNG from a “hold” rating to a “strong-buy” rating in a report on Wednesday, March 19th. One equities research analyst has rated the stock with a sell rating, one has assigned a hold rating, four have issued a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat, Golar LNG has an average rating of “Moderate Buy” and an average target price of $50.13.

Golar LNG Price Performance

The stock has a market cap of $4.17 billion, a price-to-earnings ratio of 284.79 and a beta of 0.78. The stock’s 50 day simple moving average is $38.80 and its two-hundred day simple moving average is $38.58.

Golar LNG Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Tuesday, March 18th. Investors of record on Tuesday, March 11th were paid 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 2.50%. Golar LNG’s payout ratio is currently 208.33%.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in GLNG. Public Employees Retirement System of Ohio acquired a new position in shares of Golar LNG in the 3rd quarter worth approximately $32,000. USA Financial Formulas acquired a new position in Golar LNG during the fourth quarter worth $61,000. Bank Julius Baer & Co. Ltd Zurich bought a new position in shares of Golar LNG during the fourth quarter valued at $107,000. Blue Trust Inc. boosted its stake in shares of Golar LNG by 116.8% in the 4th quarter. Blue Trust Inc. now owns 2,975 shares of the shipping company’s stock valued at $126,000 after purchasing an additional 1,603 shares in the last quarter. Finally, J.Safra Asset Management Corp bought a new stake in shares of Golar LNG in the 4th quarter worth about $141,000. Institutional investors own 92.21% of the company’s stock.

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.