Golar LNG Limited (NASDAQ:GLNG) Given Average Recommendation of “Moderate Buy” by Brokerages

Golar LNG Limited (NASDAQ:GLNG) has been given an average rating of “Moderate Buy” by the five analysts that are presently covering the stock, Marketbeat.com reports. One equities research analyst has rated the stock with a hold recommendation and four have issued a buy recommendation on the company. The average twelve-month price target among brokerages that have updated their coverage on the stock in the last year is $49.63.

Several research analysts recently weighed in on the company. Deutsche Bank Aktiengesellschaft lifted their price target on Golar LNG from $43.00 to $56.00 and gave the company a “buy” rating in a research report on Friday, August 16th. Stifel Nicolaus decreased their target price on shares of Golar LNG from $55.00 to $53.00 and set a “buy” rating for the company in a research note on Friday, August 16th. StockNews.com upgraded shares of Golar LNG to a “sell” rating in a research report on Wednesday, November 13th. Finally, Fearnley Fonds downgraded shares of Golar LNG from a “strong-buy” rating to a “hold” rating in a research report on Wednesday, November 13th.

Golar LNG Stock Performance

NASDAQ GLNG opened at $34.90 on Friday. The firm has a market capitalization of $3.64 billion, a P/E ratio of 26.04 and a beta of 0.58. The stock has a 50-day simple moving average of $36.31 and a two-hundred day simple moving average of $32.63. The company has a debt-to-equity ratio of 0.31, a quick ratio of 1.28 and a current ratio of 1.24. Golar LNG has a fifty-two week low of $19.94 and a fifty-two week high of $39.40.

Golar LNG Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Monday, December 2nd. Investors of record on Monday, November 25th will be paid a $0.25 dividend. The ex-dividend date is Monday, November 25th. This represents a $1.00 dividend on an annualized basis and a yield of 2.87%. Golar LNG’s dividend payout ratio is currently 74.63%.

Institutional Investors Weigh In On Golar LNG

Institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Donald Smith & CO. Inc. grew its position in shares of Golar LNG by 32.0% in the first quarter. Donald Smith & CO. Inc. now owns 3,586,994 shares of the shipping company’s stock valued at $86,303,000 after purchasing an additional 870,233 shares during the period. Healthcare of Ontario Pension Plan Trust Fund boosted its holdings in Golar LNG by 467.9% in the 3rd quarter. Healthcare of Ontario Pension Plan Trust Fund now owns 2,237,000 shares of the shipping company’s stock worth $82,232,000 after buying an additional 1,843,100 shares during the last quarter. State Street Corp increased its stake in Golar LNG by 5.2% during the 3rd quarter. State Street Corp now owns 1,920,590 shares of the shipping company’s stock worth $70,601,000 after buying an additional 94,336 shares in the last quarter. American Century Companies Inc. raised its holdings in shares of Golar LNG by 53.7% during the second quarter. American Century Companies Inc. now owns 1,732,655 shares of the shipping company’s stock valued at $54,319,000 after acquiring an additional 605,499 shares during the last quarter. Finally, Pinnacle Associates Ltd. lifted its position 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 valued at $47,045,000 after acquiring an additional 63,180 shares in the last quarter. Hedge funds and other institutional investors own 92.21% of the company’s stock.

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.