Golar LNG (NASDAQ:GLNG) Upgraded at StockNews.com

StockNews.com upgraded shares of Golar LNG (NASDAQ:GLNG) to a sell rating in a report issued on Thursday.

GLNG has been the subject of a number of other reports. DNB Markets cut shares of Golar LNG from a “buy” rating to a “hold” rating in a research report on Wednesday, February 19th. Stifel Nicolaus upped their price objective on shares of Golar LNG from $53.00 to $55.00 and gave the stock a “buy” rating in a research report on Tuesday, December 24th. One investment analyst has rated the stock with a sell rating, one has issued a hold rating, four have assigned a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average target price of $50.13.

Golar LNG Stock Performance

Shares of NASDAQ GLNG opened at $37.76 on Thursday. The company’s fifty day moving average price is $38.85 and its 200 day moving average price is $38.41. Golar LNG has a 1 year low of $23.45 and a 1 year high of $44.36. The company has a market capitalization of $3.94 billion, a PE ratio of 269.73 and a beta of 0.78.

Golar LNG Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Tuesday, March 18th. Stockholders of record on Tuesday, March 11th were given a $0.25 dividend. This represents a $1.00 dividend on an annualized basis and a dividend yield of 2.65%. The ex-dividend date was Tuesday, March 11th. Golar LNG’s dividend payout ratio (DPR) is 208.33%.

Institutional Investors Weigh In On Golar LNG

A number of hedge funds have recently modified their holdings of GLNG. Summit Investment Advisors Inc. increased its position in Golar LNG by 3.3% during the fourth quarter. Summit Investment Advisors Inc. now owns 10,354 shares of the shipping company’s stock worth $438,000 after purchasing an additional 328 shares during the last quarter. Mariner LLC increased its position in Golar LNG by 7.4% during the fourth quarter. Mariner LLC now owns 5,995 shares of the shipping company’s stock worth $254,000 after purchasing an additional 414 shares during the last quarter. Kingswood Wealth Advisors LLC increased its position in Golar LNG by 5.0% during the fourth quarter. Kingswood Wealth Advisors LLC now owns 10,500 shares of the shipping company’s stock worth $444,000 after purchasing an additional 500 shares during the last quarter. Metis Global Partners LLC boosted its stake in Golar LNG by 9.8% during the fourth quarter. Metis Global Partners LLC now owns 5,996 shares of the shipping company’s stock worth $254,000 after buying an additional 534 shares during the period. Finally, Public Employees Retirement System of Ohio acquired a new stake in shares of Golar LNG during the third quarter valued at about $32,000. 92.21% of the stock is currently owned by institutional investors and hedge funds.

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.