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

Golar LNG Limited (NASDAQ:GLNG) has been assigned an average rating of “Moderate Buy” from the six research firms that are covering the firm, MarketBeat Ratings reports. Two research analysts have rated the stock with a hold rating and four have assigned a buy rating to the company. The average 12-month target price among analysts that have issued ratings on the stock in the last year is $50.13.

A number of research analysts recently issued reports on GLNG shares. Stifel Nicolaus boosted their price objective 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. DNB Markets lowered shares of Golar LNG from a “buy” rating to a “hold” rating in a report on Wednesday, February 19th. Finally, StockNews.com raised Golar LNG to a “sell” rating in a research note on Monday, December 9th.

Hedge Funds Weigh In On Golar LNG

A number of large investors have recently added to or reduced their stakes in the company. Naria Inc. acquired a new position in shares of Golar LNG during the fourth quarter worth about $435,226,000. Healthcare of Ontario Pension Plan Trust Fund boosted its position 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 worth $82,232,000 after acquiring an additional 1,843,100 shares during the last quarter. Millennium Management LLC raised its holdings in shares of Golar LNG by 49.2% in the fourth quarter. Millennium Management LLC now owns 4,638,045 shares of the shipping company’s stock valued at $196,282,000 after purchasing an additional 1,529,884 shares during the last quarter. Encompass Capital Advisors LLC acquired a new stake in shares of Golar LNG in the fourth quarter valued at approximately $55,413,000. Finally, Clearline Capital LP bought a new stake in shares of Golar LNG in the third quarter worth $36,865,000. Institutional investors own 92.21% of the company’s stock.

Golar LNG Trading Up 6.2 %

Shares of GLNG opened at $37.20 on Thursday. The stock has a market cap of $3.88 billion, a P/E ratio of 265.73 and a beta of 0.78. The stock’s 50-day moving average price is $38.99 and its two-hundred day moving average price is $38.33. Golar LNG has a 1 year low of $23.45 and a 1 year high of $44.36.

Golar LNG Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, March 18th. Investors of record on Tuesday, March 11th were given a $0.25 dividend. The ex-dividend date was Tuesday, March 11th. This represents a $1.00 annualized dividend and a yield of 2.69%. Golar LNG’s dividend payout ratio is currently 208.33%.

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.