Golar LNG Limited (NASDAQ:GLNG) Given Consensus Recommendation of “Buy” by Analysts

Shares of Golar LNG Limited (NASDAQ:GLNG) have received a consensus recommendation of “Buy” from the six brokerages that are covering the company, Marketbeat reports. One investment analyst has rated the stock with a hold recommendation, four have assigned a buy recommendation and one has assigned a strong buy recommendation to the company. The average 1-year price target among brokerages that have covered the stock in the last year is $50.13.

A number of brokerages have recently issued reports on GLNG. StockNews.com raised shares of Golar LNG to a “sell” rating in a research report on Thursday, March 20th. DNB Markets downgraded Golar LNG from a “buy” rating to a “hold” rating in a research report on Wednesday, February 19th. Fearnley Fonds upgraded Golar LNG from a “hold” rating to a “strong-buy” rating in a report on Wednesday, March 19th. Finally, Stifel Nicolaus boosted their target price on Golar LNG from $53.00 to $55.00 and gave the stock a “buy” rating in a research note on Tuesday, December 24th.

Hedge Funds Weigh In On Golar LNG

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in GLNG. Public Employees Retirement System of Ohio purchased a new stake in Golar LNG during the 3rd quarter valued at about $32,000. USA Financial Formulas acquired a new stake in shares of Golar LNG during the fourth quarter worth about $61,000. Bank Julius Baer & Co. Ltd Zurich purchased a new stake in Golar LNG in the fourth quarter valued at approximately $107,000. Blue Trust Inc. increased its holdings in Golar LNG by 116.8% in the 4th quarter. Blue Trust Inc. now owns 2,975 shares of the shipping company’s stock worth $126,000 after buying an additional 1,603 shares during the period. Finally, J.Safra Asset Management Corp purchased a new position in Golar LNG during the 4th quarter worth approximately $141,000. Hedge funds and other institutional investors own 92.21% of the company’s stock.

Golar LNG Stock Performance

Shares of Golar LNG stock opened at $38.13 on Monday. The company has a market capitalization of $3.99 billion, a PE ratio of 272.38 and a beta of 0.47. The company has a 50-day simple moving average of $36.76 and a two-hundred day simple moving average of $38.75. Golar LNG has a one year low of $24.42 and a one year high of $44.36.

Golar LNG Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, March 18th. Stockholders of record on Tuesday, March 11th were issued a dividend of $0.25 per share. This represents a $1.00 dividend on an annualized basis and a dividend yield of 2.62%. The ex-dividend date of this dividend was Tuesday, March 11th. Golar LNG’s dividend payout ratio (DPR) is presently 208.33%.

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.