Golar LNG (NASDAQ:GLNG) Sets New 52-Week High – Here’s What Happened

Golar LNG Limited (NASDAQ:GLNG)’s stock price hit a new 52-week high during mid-day trading on Thursday . The company traded as high as $44.09 and last traded at $43.98, with a volume of 236786 shares changing hands. The stock had previously closed at $42.32.

Analyst Ratings Changes

Several equities research analysts have weighed in on the company. StockNews.com upgraded Golar LNG to a “sell” rating in a report on Monday, December 9th. Fearnley Fonds cut shares of Golar LNG from a “strong-buy” rating to a “hold” rating in a research report on Wednesday, November 13th. Finally, Stifel Nicolaus raised their price objective on shares of Golar LNG from $53.00 to $55.00 and gave the stock a “buy” rating in a report on Tuesday, December 24th. One equities research analyst has rated the stock with a sell rating, one has issued a hold rating and four have issued a buy rating to the company. According to MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $50.13.

Golar LNG Stock Up 3.9 %

The stock’s 50 day simple moving average is $39.36 and its two-hundred day simple moving average is $35.81. The company has a debt-to-equity ratio of 0.41, a current ratio of 1.55 and a quick ratio of 1.28. The firm has a market cap of $4.59 billion, a P/E ratio of 314.17 and a beta of 0.61.

Golar LNG Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Monday, December 2nd. Stockholders of record on Monday, November 25th were paid a $0.25 dividend. This represents a $1.00 annualized dividend and a dividend yield of 2.27%. The ex-dividend date of this dividend was Monday, November 25th. Golar LNG’s dividend payout ratio (DPR) is currently 714.29%.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Barclays PLC boosted its position in shares of Golar LNG by 431.3% during the third quarter. Barclays PLC now owns 185,018 shares of the shipping company’s stock worth $6,802,000 after acquiring an additional 150,195 shares during the last quarter. De Lisle Partners LLP grew its position in shares of Golar LNG by 9.1% during the third quarter. De Lisle Partners LLP now owns 249,390 shares of the shipping company’s stock valued at $9,169,000 after purchasing an additional 20,890 shares in the last quarter. Healthcare of Ontario Pension Plan Trust Fund grew its holdings 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 valued at $82,232,000 after buying an additional 1,843,100 shares in the last quarter. Murchinson Ltd. bought a new stake in shares of Golar LNG in the 2nd quarter worth about $1,301,000. Finally, Royce & Associates LP increased its position in Golar LNG by 102.5% during the third quarter. Royce & Associates LP now owns 81,000 shares of the shipping company’s stock valued at $2,978,000 after acquiring an additional 41,000 shares during the last quarter. 92.21% of the stock is currently owned by institutional investors.

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.