Golar LNG (NASDAQ:GLNG) Upgraded to Hold by StockNews.com

StockNews.com upgraded shares of Golar LNG (NASDAQ:GLNG) from a sell rating to a hold rating in a research report report published on Wednesday.

Golar LNG Stock Performance

GLNG stock opened at $25.42 on Wednesday. The company has a debt-to-equity ratio of 0.34, a quick ratio of 1.49 and a current ratio of 1.49. The stock has a market capitalization of $2.66 billion, a price-to-earnings ratio of -59.11 and a beta of 0.61. Golar LNG has a 1 year low of $19.62 and a 1 year high of $25.73. The stock’s fifty day moving average is $22.60 and its two-hundred day moving average is $22.56.

Golar LNG (NASDAQ:GLNG) last posted its earnings results on Thursday, February 29th. The shipping company reported $0.90 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.50 by $0.40. Golar LNG had a positive return on equity of 11.67% and a negative net margin of 15.68%. The company had revenue of $78.65 million for the quarter, compared to analysts’ expectations of $76.85 million. On average, research analysts predict that Golar LNG will post 1.66 EPS for the current year.

Golar LNG Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Wednesday, March 20th. Investors of record on Tuesday, March 12th were paid a dividend of $0.25 per share. This represents a $1.00 dividend on an annualized basis and a dividend yield of 3.93%. The ex-dividend date was Monday, March 11th. Golar LNG’s dividend payout ratio is currently -232.55%.

Institutional Investors Weigh In On Golar LNG

A number of hedge funds and other institutional investors have recently modified their holdings of GLNG. Millennium Management LLC raised its stake in shares of Golar LNG by 241.0% during the fourth quarter. Millennium Management LLC now owns 3,242,059 shares of the shipping company’s stock valued at $73,887,000 after purchasing an additional 2,291,392 shares in the last quarter. Goldman Sachs Group Inc. raised its stake in shares of Golar LNG by 324.9% during the second quarter. Goldman Sachs Group Inc. now owns 2,582,678 shares of the shipping company’s stock valued at $58,756,000 after purchasing an additional 1,974,914 shares in the last quarter. Donald Smith & CO. Inc. grew its holdings in Golar LNG by 197.1% during the fourth quarter. Donald Smith & CO. Inc. now owns 2,716,761 shares of the shipping company’s stock worth $62,458,000 after acquiring an additional 1,802,470 shares during the period. Permian Investment Partners LP acquired a new position in Golar LNG during the first quarter worth about $30,655,000. Finally, Norges Bank acquired a new position in Golar LNG during the fourth quarter worth about $23,863,000. 92.21% of the stock is currently owned by institutional investors.

About Golar LNG

Golar LNG Limited designs, owns, and operates marine infrastructure for the liquefaction of natural gas. The company operates through three segments: FLNG, Corporate and Other, and Shipping. It also engages in the regasification, storage, and offloading of liquefied natural gas (LNG); operation of floating liquefaction natural gas (FLNG) vessels; operation of the transportation of LNG carriers; and vessel management.