Golar LNG Limited (NASDAQ:GLNG) Receives Average Recommendation of “Moderate Buy” from Brokerages

Golar LNG Limited (NASDAQ:GLNG) has earned an average recommendation of “Moderate Buy” from the four analysts that are currently covering the stock, MarketBeat.com reports. Two investment analysts have rated the stock with a hold rating and two have assigned a buy rating to the company. The average 1 year price target among brokerages that have issued a report on the stock in the last year is $34.33.

A number of equities analysts recently weighed in on GLNG shares. StockNews.com lowered shares of Golar LNG from a “hold” rating to a “sell” rating in a research report on Thursday, April 25th. Deutsche Bank Aktiengesellschaft boosted their price target on shares of Golar LNG from $28.00 to $40.00 and gave the stock a “buy” rating in a research report on Wednesday, May 29th. BTIG Research boosted their price target on shares of Golar LNG from $30.00 to $36.00 and gave the stock a “buy” rating in a research report on Wednesday, May 29th. Finally, Stifel Nicolaus boosted their price target on shares of Golar LNG from $34.00 to $55.00 and gave the stock a “buy” rating in a research report on Monday.

Golar LNG Stock Up 2.7 %

Shares of NASDAQ GLNG opened at $29.65 on Monday. The company’s 50-day simple moving average is $26.31 and its 200-day simple moving average is $23.89. Golar LNG has a 52-week low of $19.62 and a 52-week high of $29.65. The firm has a market cap of $3.10 billion, a price-to-earnings ratio of 28.24 and a beta of 0.61. The company has a quick ratio of 1.49, a current ratio of 1.49 and a debt-to-equity ratio of 0.34.

Golar LNG Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Monday, June 17th. Shareholders of record on Monday, June 10th were issued a $0.25 dividend. The ex-dividend date was Monday, June 10th. This represents a $1.00 annualized dividend and a yield of 3.37%. Golar LNG’s payout ratio is 95.24%.

Hedge Funds Weigh In On Golar LNG

Several institutional investors and hedge funds have recently bought and sold shares of the company. Charles Schwab Investment Management Inc. raised its stake in shares of Golar LNG by 6.8% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 433,439 shares of the shipping company’s stock valued at $10,515,000 after acquiring an additional 27,720 shares during the period. Deutsche Bank AG raised its stake in shares of Golar LNG by 18.9% in the 3rd quarter. Deutsche Bank AG now owns 51,107 shares of the shipping company’s stock valued at $1,240,000 after acquiring an additional 8,120 shares during the period. Rhumbline Advisers raised its stake in shares of Golar LNG by 1.1% in the 3rd quarter. Rhumbline Advisers now owns 164,189 shares of the shipping company’s stock valued at $3,983,000 after acquiring an additional 1,801 shares during the period. FMR LLC raised its stake in shares of Golar LNG by 27.9% in the 3rd quarter. FMR LLC now owns 4,427,697 shares of the shipping company’s stock valued at $107,416,000 after acquiring an additional 965,932 shares during the period. Finally, Aigen Investment Management LP purchased a new stake in shares of Golar LNG in the 3rd quarter valued at approximately $201,000. 92.21% of the stock is currently owned by institutional investors and hedge funds.

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.