Golar LNG Limited (NASDAQ:GLNG) Receives $50.13 Average Price Target from Brokerages

Golar LNG Limited (NASDAQ:GLNG) has been assigned a consensus rating of “Moderate Buy” from the five research firms that are presently covering the company, MarketBeat reports. One research analyst has rated the stock with a hold rating and four have given a buy rating to the company. The average 1-year price objective among analysts that have updated their coverage on the stock in the last year is $50.13.

Several equities research analysts recently issued reports on the company. Stifel Nicolaus upped their price target on Golar LNG from $53.00 to $55.00 and gave the stock a “buy” rating in a report on Tuesday, December 24th. StockNews.com upgraded shares of Golar LNG to a “sell” rating in a research note on Monday, December 9th. Finally, Fearnley Fonds lowered shares of Golar LNG from a “strong-buy” rating to a “hold” rating in a research report on Wednesday, November 13th.

Institutional Trading of Golar LNG

Hedge funds have recently made changes to their positions in the company. Kingswood Wealth Advisors LLC boosted its holdings in Golar LNG by 5.0% in the 4th quarter. Kingswood Wealth Advisors LLC now owns 10,500 shares of the shipping company’s stock worth $444,000 after buying an additional 500 shares during the period. Blue Trust Inc. boosted its holdings in shares of Golar LNG by 105.1% in the third quarter. Blue Trust Inc. now owns 1,372 shares of the shipping company’s stock worth $50,000 after acquiring an additional 703 shares during the period. Public Employees Retirement System of Ohio purchased a new position in shares of Golar LNG in the third quarter valued at $32,000. Merit Financial Group LLC raised its stake in shares of Golar LNG by 13.3% during the 4th quarter. Merit Financial Group LLC now owns 7,363 shares of the shipping company’s stock valued at $312,000 after purchasing an additional 866 shares during the period. Finally, The Manufacturers Life Insurance Company lifted its holdings in Golar LNG by 2.9% during the 2nd quarter. The Manufacturers Life Insurance Company now owns 35,580 shares of the shipping company’s stock worth $1,115,000 after purchasing an additional 992 shares in the last quarter. 92.21% of the stock is currently owned by institutional investors.

Golar LNG Stock Performance

Shares of GLNG opened at $40.75 on Wednesday. The firm has a market capitalization of $4.25 billion, a P/E ratio of 291.09 and a beta of 0.59. Golar LNG has a 52 week low of $19.94 and a 52 week high of $44.36. The stock has a 50 day moving average price of $41.52 and a two-hundred day moving average price of $37.28.

Golar LNG Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Monday, December 2nd. Shareholders of record on Monday, November 25th were given a $0.25 dividend. This represents a $1.00 annualized dividend and a yield of 2.45%. The ex-dividend date was Monday, November 25th. Golar LNG’s dividend payout ratio is 714.34%.

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.