Golar LNG Limited (NASDAQ:GLNG) Receives $49.63 Average PT from Brokerages

Golar LNG Limited (NASDAQ:GLNG) has been assigned an average recommendation of “Moderate Buy” from the five research firms that are currently covering the firm, MarketBeat reports. One equities research analyst has rated the stock with a hold rating and four have given a buy rating to the company. The average 12 month target price among brokers that have covered the stock in the last year is $49.63.

Several equities research analysts recently issued reports on GLNG shares. Stifel Nicolaus decreased their price target on shares of Golar LNG from $55.00 to $53.00 and set a “buy” rating on the stock in a report on Friday, August 16th. StockNews.com raised shares of Golar LNG to a “sell” rating in a report on Wednesday, November 13th. Deutsche Bank Aktiengesellschaft boosted their price target on shares of Golar LNG from $43.00 to $56.00 and gave the stock a “buy” rating in a research report on Friday, August 16th. Finally, Fearnley Fonds downgraded shares of Golar LNG from a “strong-buy” rating to a “hold” rating in a research report on Wednesday, November 13th.

Golar LNG Price Performance

Shares of Golar LNG stock opened at $34.00 on Friday. Golar LNG has a twelve month low of $19.94 and a twelve month high of $39.40. The company has a quick ratio of 1.28, a current ratio of 1.24 and a debt-to-equity ratio of 0.31. The company has a 50-day simple moving average of $36.24 and a two-hundred day simple moving average of $32.50. The stock has a market capitalization of $3.55 billion, a price-to-earnings ratio of 25.37 and a beta of 0.58.

Golar LNG (NASDAQ:GLNG) last announced its quarterly earnings results on Thursday, August 15th. The shipping company reported $0.42 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.44 by ($0.02). The company 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%. Analysts forecast that Golar LNG will post 1.29 EPS for the current year.

Golar LNG Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Monday, December 2nd. Stockholders of record on Monday, November 25th will be paid a $0.25 dividend. The ex-dividend date is Monday, November 25th. This represents a $1.00 annualized dividend and a dividend yield of 2.94%. Golar LNG’s payout ratio is 74.63%.

Hedge Funds Weigh In On Golar LNG

Institutional investors have recently added to or reduced their stakes in the stock. Donald Smith & CO. Inc. lifted its holdings in shares of Golar LNG by 32.0% in the first quarter. Donald Smith & CO. Inc. now owns 3,586,994 shares of the shipping company’s stock worth $86,303,000 after buying an additional 870,233 shares in the last quarter. Healthcare of Ontario Pension Plan Trust Fund grew its holdings in shares of 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 worth $82,232,000 after purchasing an additional 1,843,100 shares during the last quarter. State Street Corp lifted its stake in Golar LNG by 5.2% in the third quarter. State Street Corp now owns 1,920,590 shares of the shipping company’s stock worth $70,601,000 after acquiring an additional 94,336 shares during the period. American Century Companies Inc. lifted its position in Golar LNG by 53.7% during the second quarter. American Century Companies Inc. now owns 1,732,655 shares of the shipping company’s stock valued at $54,319,000 after buying an additional 605,499 shares during the period. Finally, Pinnacle Associates Ltd. lifted its position in Golar LNG by 4.4% during the second quarter. Pinnacle Associates Ltd. now owns 1,500,628 shares of the shipping company’s stock valued at $47,045,000 after buying an additional 63,180 shares during the period. 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.