Golar LNG (NASDAQ:GLNG) Given New $55.00 Price Target at Stifel Nicolaus

Golar LNG (NASDAQ:GLNG) had its price objective lifted by Stifel Nicolaus from $53.00 to $55.00 in a research note published on Tuesday morning,Benzinga reports. Stifel Nicolaus currently has a buy rating on the shipping company’s stock.

Other equities research analysts also recently issued reports about the company. StockNews.com raised Golar LNG to a “sell” rating in a report on Monday, December 9th. Fearnley Fonds lowered shares of Golar LNG from a “strong-buy” rating to a “hold” rating in a research note on Wednesday, November 13th. One analyst has rated the stock with a sell rating, one has given a hold rating and four have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $50.13.

Golar LNG Trading Up 2.3 %

Shares of NASDAQ GLNG opened at $42.80 on Tuesday. The stock has a market cap of $4.47 billion, a P/E ratio of 305.74 and a beta of 0.61. The company has a debt-to-equity ratio of 0.41, a current ratio of 1.55 and a quick ratio of 1.28. Golar LNG has a 1 year low of $19.94 and a 1 year high of $44.08. The firm has a 50-day moving average of $38.71 and a 200 day moving average of $35.14.

Golar LNG Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Monday, December 2nd. Stockholders of record on Monday, November 25th were issued a dividend of $0.25 per share. The ex-dividend date was Monday, November 25th. This represents a $1.00 annualized dividend and a dividend yield of 2.34%. Golar LNG’s payout ratio is 714.29%.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently bought and sold shares of GLNG. Healthcare of Ontario Pension Plan Trust Fund boosted 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 buying an additional 1,843,100 shares during the last quarter. Clearline Capital LP bought a new position in Golar LNG in the 3rd quarter worth $36,865,000. American Century Companies Inc. grew its holdings 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 purchasing an additional 605,499 shares during the period. Brookfield Corp ON increased its position in Golar LNG by 180.8% in the third quarter. Brookfield Corp ON now owns 849,959 shares of the shipping company’s stock worth $31,244,000 after buying an additional 547,253 shares in the last quarter. Finally, Appian Way Asset Management LP bought a new position in shares of Golar LNG in the third quarter worth about $15,351,000. 92.21% of the stock is owned by hedge funds and other institutional investors.

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.