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

Golar LNG Limited (NASDAQ:GLNG)’s share price hit a new 52-week high during trading on Monday . The stock traded as high as $39.40 and last traded at $39.22, with a volume of 631825 shares changing hands. The stock had previously closed at $38.96.

Analyst Upgrades and Downgrades

A number of research firms have weighed in on GLNG. Deutsche Bank Aktiengesellschaft increased their target price on Golar LNG from $43.00 to $56.00 and gave the stock a “buy” rating in a research note on Friday, August 16th. BTIG Research raised their price target on shares of Golar LNG from $36.00 to $45.00 and gave the stock a “buy” rating in a research note on Tuesday, June 25th. B. Riley boosted their price objective on shares of Golar LNG from $35.50 to $44.50 and gave the company a “buy” rating in a research report on Friday, July 19th. Stifel Nicolaus dropped their target price on shares of Golar LNG from $55.00 to $53.00 and set a “buy” rating on the stock in a research note on Friday, August 16th. Finally, StockNews.com raised shares of Golar LNG to a “sell” rating in a research note on Tuesday, October 1st. One analyst has rated the stock with a sell rating and four have assigned a buy rating to the company. Based on data from MarketBeat, Golar LNG presently has a consensus rating of “Moderate Buy” and an average target price of $49.63.

Golar LNG Trading Up 0.9 %

The company has a debt-to-equity ratio of 0.31, a quick ratio of 1.28 and a current ratio of 1.24. The company has a market capitalization of $4.02 billion, a P/E ratio of 36.60 and a beta of 0.58. The company’s fifty day simple moving average is $34.33 and its 200-day simple moving average is $30.63.

Golar LNG (NASDAQ:GLNG) last released its quarterly earnings data on Thursday, August 15th. The shipping company reported $0.42 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.44 by ($0.02). The business had revenue of $62.98 million for the quarter, compared to the consensus estimate of $67.38 million. Golar LNG had a net margin of 50.89% and a return on equity of 9.20%. Research analysts predict that Golar LNG Limited will post 1.53 earnings per share for the current year.

Golar LNG Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Tuesday, September 3rd. Stockholders of record on Monday, August 26th were issued a $0.25 dividend. The ex-dividend date of this dividend was Monday, August 26th. This represents a $1.00 dividend on an annualized basis and a dividend yield of 2.60%. Golar LNG’s dividend payout ratio is presently 95.24%.

Institutional Investors Weigh In On Golar LNG

A number of hedge funds have recently made changes to their positions in the stock. Sound Income Strategies LLC bought a new position in Golar LNG in the third quarter worth about $52,000. Lowe Wealth Advisors LLC purchased a new position in shares of Golar LNG in the 2nd quarter worth approximately $45,000. CWM LLC raised its stake in shares of Golar LNG by 830.9% during the 3rd quarter. CWM LLC now owns 1,657 shares of the shipping company’s stock worth $61,000 after acquiring an additional 1,479 shares in the last quarter. EverSource Wealth Advisors LLC lifted its position in Golar LNG by 206.2% during the second quarter. EverSource Wealth Advisors LLC now owns 1,727 shares of the shipping company’s stock valued at $54,000 after acquiring an additional 1,163 shares during the last quarter. Finally, Quarry LP boosted its stake in Golar LNG by 1,559.3% in the second quarter. Quarry LP now owns 2,323 shares of the shipping company’s stock valued at $73,000 after acquiring an additional 2,183 shares in 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.