Golar LNG Limited (NASDAQ:GLNG) Receives Consensus Rating of “Buy” from Brokerages

Shares of Golar LNG Limited (NASDAQ:GLNG) have received an average recommendation of “Buy” from the six analysts that are currently covering the company, Marketbeat reports. One research analyst has rated the stock with a hold rating, four have issued a buy rating and one has issued a strong buy rating on the company. The average twelve-month price objective among brokers that have updated their coverage on the stock in the last year is $50.13.

A number of equities research analysts have issued reports on GLNG shares. DNB Markets downgraded Golar LNG from a “buy” rating to a “hold” rating in a research note on Wednesday, February 19th. Stifel Nicolaus upped their target price on shares of Golar LNG from $53.00 to $55.00 and gave the company a “buy” rating in a report on Tuesday, December 24th. StockNews.com upgraded shares of Golar LNG to a “sell” rating in a research note on Thursday, March 20th. Finally, Fearnley Fonds upgraded Golar LNG from a “hold” rating to a “strong-buy” rating in a research note on Wednesday, March 19th.

Golar LNG Price Performance

Shares of GLNG opened at $39.72 on Thursday. The firm has a market capitalization of $4.15 billion, a P/E ratio of 283.73 and a beta of 0.78. Golar LNG has a one year low of $23.47 and a one year high of $44.36. The business has a fifty day moving average of $38.75 and a 200 day moving average of $38.58.

Golar LNG Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, March 18th. Stockholders of record on Tuesday, March 11th were given a dividend of $0.25 per share. The ex-dividend date was Tuesday, March 11th. This represents a $1.00 annualized dividend and a dividend yield of 2.52%. Golar LNG’s payout ratio is 208.33%.

Institutional Inflows and Outflows

Several hedge funds have recently bought and sold shares of GLNG. Naria Inc. bought a new stake in Golar LNG during the fourth quarter valued at about $435,226,000. Healthcare of Ontario Pension Plan Trust Fund raised its stake in Golar LNG by 467.9% during the 3rd 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 purchasing an additional 1,843,100 shares during the period. Millennium Management LLC lifted its holdings in Golar LNG by 49.2% in the 4th quarter. Millennium Management LLC now owns 4,638,045 shares of the shipping company’s stock worth $196,282,000 after purchasing an additional 1,529,884 shares in the last quarter. Encompass Capital Advisors LLC bought a new position in Golar LNG in the 4th quarter worth approximately $55,413,000. Finally, Clearline Capital LP purchased a new stake in Golar LNG during the 3rd quarter valued at approximately $36,865,000. 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.