Golar LNG Limited (NASDAQ:GLNG) Given Average Rating of “Buy” by Analysts

Shares of Golar LNG Limited (NASDAQ:GLNG) have earned an average rating of “Buy” from the nine research firms that are presently covering the stock, Marketbeat reports. Three analysts have rated the stock with a hold rating, three have issued a buy rating and three have issued a strong buy rating on the company. The average 1-year price objective among brokers that have issued a report on the stock in the last year is $50.50.

A number of research analysts recently issued reports on GLNG shares. Wall Street Zen lowered Golar LNG from a “hold” rating to a “sell” rating in a research report on Saturday, February 28th. Zacks Research raised Golar LNG from a “strong sell” rating to a “hold” rating in a research report on Monday, January 5th. The Goldman Sachs Group set a $56.00 price target on shares of Golar LNG in a report on Monday, February 2nd. Weiss Ratings restated a “hold (c+)” rating on shares of Golar LNG in a research report on Monday, December 29th. Finally, BTIG Research increased their price objective on shares of Golar LNG from $50.00 to $53.00 and gave the stock a “buy” rating in a report on Wednesday, February 25th.

Golar LNG Stock Performance

Shares of NASDAQ GLNG opened at $45.68 on Thursday. The company has a quick ratio of 1.32, a current ratio of 2.55 and a debt-to-equity ratio of 1.19. The firm’s 50-day moving average price is $42.07 and its two-hundred day moving average price is $40.25. Golar LNG has a 52-week low of $29.56 and a 52-week high of $47.48. The stock has a market capitalization of $4.78 billion, a P/E ratio of 71.38 and a beta of 0.18.

Golar LNG (NASDAQ:GLNG) last posted its earnings results on Wednesday, February 25th. The shipping company reported $0.30 EPS for the quarter, missing the consensus estimate of $0.38 by ($0.08). The company had revenue of $132.81 million for the quarter, compared to the consensus estimate of $123.29 million. Golar LNG had a net margin of 16.69% and a return on equity of 6.24%. As a group, sell-side analysts forecast that Golar LNG will post 1.39 earnings per share for the current year.

Golar LNG Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Wednesday, March 18th. Shareholders of record on Monday, March 9th will be paid a dividend of $0.25 per share. This represents a $1.00 dividend on an annualized basis and a yield of 2.2%. The ex-dividend date of this dividend is Monday, March 9th. Golar LNG’s payout ratio is presently 156.25%.

Institutional Investors Weigh In On Golar LNG

A number of hedge funds have recently made changes to their positions in the business. Caitong International Asset Management Co. Ltd grew its holdings in Golar LNG by 278.2% in the 3rd quarter. Caitong International Asset Management Co. Ltd now owns 658 shares of the shipping company’s stock worth $27,000 after buying an additional 484 shares in the last quarter. Smartleaf Asset Management LLC raised its stake in Golar LNG by 281.9% during the 3rd quarter. Smartleaf Asset Management LLC now owns 909 shares of the shipping company’s stock valued at $37,000 after acquiring an additional 671 shares in the last quarter. Allworth Financial LP boosted its position in Golar LNG by 43.5% during the 2nd quarter. Allworth Financial LP now owns 990 shares of the shipping company’s stock worth $41,000 after acquiring an additional 300 shares during the period. Crossingbridge Advisors LLC acquired a new position in Golar LNG during the 2nd quarter worth $41,000. Finally, Zions Bancorporation National Association UT bought a new position in shares of Golar LNG in the fourth quarter worth $44,000. Institutional investors own 92.21% of the company’s stock.

Golar LNG Company Profile

Golar LNG Ltd. is a leading owner and operator of liquefied natural gas (LNG) carriers and floating infrastructure. The company specializes in the transportation of LNG on long-term and spot charters for major energy firms around the world. In addition to shipping, Golar LNG has broadened its services to include project development and the conversion of existing carriers into Floating Liquefied Natural Gas (FLNG) and Floating Storage and Regasification Unit (FSRU) vessels.

Since pioneering the first purpose-built FLNG conversion project, Golar LNG has been at the forefront of offshore gas monetization.