Golar LNG (NASDAQ:GLNG) Sets New 52-Week High – Should You Buy?

Shares of Golar LNG Limited (NASDAQ:GLNG) reached a new 52-week high on Wednesday . The stock traded as high as $56.82 and last traded at $54.44, with a volume of 2341603 shares traded. The stock had previously closed at $55.75.

Analyst Upgrades and Downgrades

GLNG has been the topic of several recent research reports. Wall Street Zen upgraded Golar LNG from a “sell” rating to a “hold” rating in a research report on Saturday, March 28th. Zacks Research upgraded 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 objective on Golar LNG in a research report on Monday, February 2nd. Weiss Ratings reiterated 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 Golar LNG from $50.00 to $53.00 and gave the stock a “buy” rating in a research report on Wednesday, February 25th. Two investment analysts have rated the stock with a Strong Buy rating, three have given a Buy rating and three have issued a Hold rating to the stock. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $50.50.

Golar LNG Stock Down 2.3%

The stock has a market cap of $5.52 billion, a P/E ratio of 85.06 and a beta of 0.11. The company has a current ratio of 2.55, a quick ratio of 2.55 and a debt-to-equity ratio of 1.19. The firm has a 50-day simple moving average of $46.84 and a two-hundred day simple moving average of $41.49.

Golar LNG (NASDAQ:GLNG) last released its earnings results on Saturday, February 14th. The shipping company reported $0.09 earnings per share (EPS) for the quarter. The company had revenue of $132.81 million for the quarter. Golar LNG had a return on equity of 6.24% and a net margin of 16.69%. Equities research analysts expect that Golar LNG Limited will post 1.39 earnings per share for the current fiscal year.

Golar LNG Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Wednesday, March 18th. Stockholders of record on Monday, March 9th were issued a dividend of $0.25 per share. This represents a $1.00 annualized dividend and a dividend yield of 1.8%. The ex-dividend date of this dividend was Monday, March 9th. Golar LNG’s dividend payout ratio is 156.25%.

Institutional Trading of Golar LNG

Several large investors have recently modified their holdings of the stock. Rockefeller Capital Management L.P. grew its holdings in shares of Golar LNG by 38.0% during the 4th quarter. Rockefeller Capital Management L.P. now owns 80,892 shares of the shipping company’s stock worth $3,010,000 after purchasing an additional 22,269 shares in the last quarter. T. Rowe Price Investment Management Inc. grew its holdings in shares of Golar LNG by 253.7% during the 4th quarter. T. Rowe Price Investment Management Inc. now owns 2,306,379 shares of the shipping company’s stock worth $85,821,000 after purchasing an additional 1,654,353 shares in the last quarter. Vident Advisory LLC grew its holdings in shares of Golar LNG by 22.9% during the 4th quarter. Vident Advisory LLC now owns 8,149 shares of the shipping company’s stock worth $303,000 after purchasing an additional 1,521 shares in the last quarter. Empowered Funds LLC acquired a new stake in shares of Golar LNG during the 4th quarter worth $2,682,000. Finally, SummitTX Capital L.P. grew its holdings in shares of Golar LNG by 1.9% during the 4th quarter. SummitTX Capital L.P. now owns 81,844 shares of the shipping company’s stock worth $3,045,000 after purchasing an additional 1,565 shares in the last quarter. 92.21% of the stock is owned by institutional investors and hedge funds.

About Golar LNG

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.