Golar LNG (NASDAQ:GLNG) Hits New 1-Year High – Here’s Why

Golar LNG Limited (NASDAQ:GLNG) shares reached a new 52-week high on Wednesday . The stock traded as high as $43.95 and last traded at $43.87, with a volume of 920716 shares traded. The stock had previously closed at $42.68.

Analysts Set New Price Targets

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

Golar LNG Trading Up 2.0 %

The firm has a market capitalization of $4.55 billion, a P/E ratio of 304.86 and a beta of 0.60. 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 business has a 50-day moving average price of $38.06 and a 200-day moving average price of $34.12.

Golar LNG Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Monday, December 2nd. Stockholders of record on Monday, November 25th were given a dividend of $0.25 per share. This represents a $1.00 dividend on an annualized basis and a dividend yield of 2.30%. The ex-dividend date was Monday, November 25th. Golar LNG’s dividend payout ratio is presently 714.29%.

Institutional Trading of Golar LNG

Large investors have recently bought and sold shares of the stock. De Lisle Partners LLP grew its position 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. Murchinson Ltd. bought a new stake in Golar LNG in the second quarter valued at $1,301,000. Healthcare of Ontario Pension Plan Trust Fund grew its position 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. Royce & Associates LP grew its position in Golar LNG by 102.5% in the third quarter. Royce & Associates LP now owns 81,000 shares of the shipping company’s stock valued at $2,978,000 after acquiring an additional 41,000 shares during the period. Finally, Pinnacle Associates Ltd. grew its position in Golar LNG by 4.4% in the second 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 period. 92.21% of the stock is currently owned by 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.