Golar LNG (NASDAQ:GLNG) Reaches New 1-Year High – Still a Buy?

Golar LNG Limited (NASDAQ:GLNG)’s share price reached a new 52-week high during trading on Thursday . The stock traded as high as $42.02 and last traded at $41.92, with a volume of 606966 shares trading hands. The stock had previously closed at $40.55.

Analyst Upgrades and Downgrades

Several equities analysts have commented on the company. Fearnley Fonds downgraded Golar LNG from a “strong-buy” rating to a “hold” rating in a research report on Wednesday, November 13th. Deutsche Bank Aktiengesellschaft raised their price objective on Golar LNG from $43.00 to $56.00 and gave the stock a “buy” rating in a research report on Friday, August 16th. Stifel Nicolaus lowered their target price on Golar LNG from $55.00 to $53.00 and set a “buy” rating for the company in a report on Friday, August 16th. Finally, StockNews.com raised Golar LNG to a “sell” rating in a research note on Wednesday, November 13th. One equities research analyst has rated the stock with a sell rating, one has given a hold rating and four have issued a buy rating to the company. According to MarketBeat, Golar LNG presently has a consensus rating of “Moderate Buy” and an average target price of $49.63.

Golar LNG Stock Performance

The company has a market cap of $4.43 billion, a PE ratio of 303.24 and a beta of 0.61. The company has a quick ratio of 1.28, a current ratio of 1.55 and a debt-to-equity ratio of 0.41. The company has a 50-day moving average of $37.86 and a 200-day moving average of $33.80.

Golar LNG Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Monday, December 2nd. Shareholders of record on Monday, November 25th were paid a $0.25 dividend. The ex-dividend date was Monday, November 25th. This represents a $1.00 annualized dividend and a dividend yield of 2.36%. Golar LNG’s payout ratio is presently 714.34%.

Hedge Funds Weigh In On Golar LNG

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Healthcare of Ontario Pension Plan Trust Fund boosted its holdings in shares of Golar LNG by 467.9% in the 3rd 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 purchasing an additional 1,843,100 shares in the last quarter. State Street Corp lifted its stake in shares of Golar LNG by 5.2% in the 3rd quarter. State Street Corp now owns 1,920,590 shares of the shipping company’s stock valued at $70,601,000 after acquiring an additional 94,336 shares during the last quarter. American Century Companies Inc. lifted its stake in shares of Golar LNG by 53.7% in the 2nd quarter. American Century Companies Inc. now owns 1,732,655 shares of the shipping company’s stock valued at $54,319,000 after acquiring an additional 605,499 shares during the last quarter. Pinnacle Associates Ltd. lifted its stake in shares of Golar LNG by 4.4% in the 2nd quarter. Pinnacle Associates Ltd. now owns 1,500,628 shares of the shipping company’s stock valued at $47,045,000 after acquiring an additional 63,180 shares during the last quarter. Finally, Vanguard Group Inc. lifted its stake in shares of Golar LNG by 74.4% in the 1st quarter. Vanguard Group Inc. now owns 1,015,644 shares of the shipping company’s stock valued at $24,436,000 after acquiring an additional 433,299 shares during the last quarter. 92.21% of the stock is currently owned by hedge funds and other institutional investors.

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.