Golar LNG (NASDAQ:GLNG) Reaches New 12-Month High Following Analyst Upgrade

Shares of Golar LNG Limited (NASDAQ:GLNG) hit a new 52-week high during trading on Monday after Stifel Nicolaus raised their price target on the stock from $34.00 to $55.00. Stifel Nicolaus currently has a buy rating on the stock. Golar LNG traded as high as $30.40 and last traded at $30.15, with a volume of 301110 shares trading hands. The stock had previously closed at $28.88.

GLNG has been the topic of several other reports. Deutsche Bank Aktiengesellschaft lifted their target price on Golar LNG from $28.00 to $40.00 and gave the stock a “buy” rating in a report on Wednesday, May 29th. StockNews.com cut Golar LNG from a “hold” rating to a “sell” rating in a report on Thursday, April 25th. Finally, BTIG Research raised their target price on shares of Golar LNG from $30.00 to $36.00 and gave the company a “buy” rating in a report on Wednesday, May 29th. One investment analyst has rated the stock with a sell rating, two have assigned a hold rating and three have issued a buy rating to the company. According to data from MarketBeat.com, the stock has an average rating of “Hold” and a consensus price target of $39.50.

Institutional Inflows and Outflows

Institutional investors have recently added to or reduced their stakes in the business. Headlands Technologies LLC purchased a new stake in shares of Golar LNG during the 4th quarter worth $117,000. Zurcher Kantonalbank Zurich Cantonalbank lifted its holdings in shares of Golar LNG by 26,805.3% during the fourth quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 5,112 shares of the shipping company’s stock worth $118,000 after purchasing an additional 5,093 shares during the period. Cetera Trust Company N.A acquired a new position in Golar LNG in the 4th quarter worth approximately $133,000. Aigen Investment Management LP purchased a new position in Golar LNG during the 3rd quarter worth approximately $201,000. Finally, Kingswood Wealth Advisors LLC raised its holdings in shares of Golar LNG by 8.0% during the fourth quarter. Kingswood Wealth Advisors LLC now owns 10,800 shares of the shipping company’s stock worth $248,000 after purchasing an additional 800 shares during the last quarter. Hedge funds and other institutional investors own 92.21% of the company’s stock.

Golar LNG Stock Up 4.6 %

The company has a quick ratio of 1.49, a current ratio of 1.49 and a debt-to-equity ratio of 0.34. The company has a market capitalization of $3.16 billion, a price-to-earnings ratio of 28.24 and a beta of 0.61. The business’s 50-day moving average is $26.31 and its 200-day moving average is $23.89.

Golar LNG Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Monday, June 17th. Stockholders of record on Monday, June 10th were paid a dividend of $0.25 per share. The ex-dividend date of this dividend was Monday, June 10th. This represents a $1.00 dividend on an annualized basis and a dividend yield of 3.31%. Golar LNG’s payout ratio is 95.24%.

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.