Golar LNG Sees Unusually High Options Volume (NASDAQ:GLNG)

Golar LNG Limited (NASDAQ:GLNG) saw unusually large options trading on Friday. Traders bought 10,160 call options on the company. This is an increase of approximately 168% compared to the typical daily volume of 3,798 call options.

Golar LNG Trading Up 5.4 %

Shares of GLNG stock traded up $1.91 during trading hours on Friday, reaching $37.50. 3,009,434 shares of the stock traded hands, compared to its average volume of 1,211,238. The business has a fifty day moving average price of $33.25 and a 200 day moving average price of $29.21. Golar LNG has a 1-year low of $19.94 and a 1-year high of $37.95. The company has a quick ratio of 1.28, a current ratio of 1.24 and a debt-to-equity ratio of 0.31. The firm has a market capitalization of $3.92 billion, a PE ratio of 35.71 and a beta of 0.58.

Golar LNG (NASDAQ:GLNG) last issued its earnings results on Thursday, August 15th. The shipping company reported $0.42 EPS for the quarter, missing the consensus estimate of $0.44 by ($0.02). The business had revenue of $62.98 million during the quarter, compared to analyst estimates of $67.38 million. Golar LNG had a return on equity of 9.20% and a net margin of 50.89%. On average, equities research analysts forecast that Golar LNG will post 1.56 EPS for the current year.

Golar LNG Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Tuesday, September 3rd. Stockholders of record on Monday, August 26th were issued a $0.25 dividend. The ex-dividend date of this dividend was Monday, August 26th. This represents a $1.00 dividend on an annualized basis and a dividend yield of 2.67%. Golar LNG’s dividend payout ratio is 95.24%.

Analyst Upgrades and Downgrades

GLNG has been the subject of a number of research analyst reports. Deutsche Bank Aktiengesellschaft upped their price target on shares of Golar LNG from $43.00 to $56.00 and gave the company a “buy” rating in a report on Friday, August 16th. Stifel Nicolaus reduced their target price on shares of Golar LNG from $55.00 to $53.00 and set a “buy” rating for the company in a report on Friday, August 16th. BTIG Research lifted their price target on shares of Golar LNG from $36.00 to $45.00 and gave the stock a “buy” rating in a research report on Tuesday, June 25th. B. Riley increased their price objective on Golar LNG from $35.50 to $44.50 and gave the company a “buy” rating in a research report on Friday, July 19th. Finally, StockNews.com raised Golar LNG to a “sell” rating in a research note on Thursday, September 19th. One research analyst has rated the stock with a sell rating and four have given a buy rating to the stock. According to MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $49.63.

Institutional Trading of Golar LNG

Several institutional investors have recently made changes to their positions in GLNG. Donald Smith & CO. Inc. lifted its position in Golar LNG by 32.0% in the 1st quarter. Donald Smith & CO. Inc. now owns 3,586,994 shares of the shipping company’s stock worth $86,303,000 after buying an additional 870,233 shares in the last quarter. American Century Companies Inc. increased its stake in shares of Golar LNG by 53.7% in the second quarter. American Century Companies Inc. now owns 1,732,655 shares of the shipping company’s stock worth $54,319,000 after acquiring an additional 605,499 shares during the last quarter. Pinnacle Associates Ltd. increased its stake in shares of Golar LNG by 4.4% in the second quarter. Pinnacle Associates Ltd. now owns 1,500,628 shares of the shipping company’s stock worth $47,045,000 after acquiring an additional 63,180 shares during the last quarter. Goldman Sachs Group Inc. boosted its position in Golar LNG by 6.2% during the fourth quarter. Goldman Sachs Group Inc. now owns 1,238,512 shares of the shipping company’s stock valued at $28,473,000 after purchasing an additional 72,672 shares during the last quarter. Finally, Norges Bank acquired a new stake in Golar LNG during the fourth quarter valued at $23,773,000. 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.