Golar LNG (NASDAQ:GLNG) Shares Gap Up to $31.49

Golar LNG Limited (NASDAQ:GLNGGet Free Report) gapped up before the market opened on Friday . The stock had previously closed at $31.49, but opened at $32.65. Golar LNG shares last traded at $32.68, with a volume of 361,509 shares changing hands.

Analyst Ratings Changes

Several brokerages have recently weighed in on GLNG. Stifel Nicolaus upped their price objective on shares of Golar LNG from $34.00 to $55.00 and gave the company a “buy” rating in a report on Monday, June 24th. StockNews.com lowered shares of Golar LNG from a “hold” rating to a “sell” rating in a report on Thursday, April 25th. Deutsche Bank Aktiengesellschaft upped their target price on shares of Golar LNG from $28.00 to $40.00 and gave the stock a “buy” rating in a report on Wednesday, May 29th. Finally, BTIG Research upped their target price on shares of Golar LNG from $36.00 to $45.00 and gave the stock a “buy” rating in a report on Tuesday, June 25th. One equities research analyst has rated the stock with a sell rating, two have issued a hold rating and three have given a buy rating to the company. According to data from MarketBeat, Golar LNG presently has a consensus rating of “Hold” and an average target price of $41.75.

View Our Latest Report on Golar LNG

Golar LNG Stock Performance

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 cap of $3.51 billion, a PE ratio of 31.99 and a beta of 0.64. The company’s 50 day simple moving average is $27.58 and its 200 day simple moving average is $24.58.

Golar LNG (NASDAQ:GLNGGet Free Report) last posted its quarterly earnings data on Tuesday, May 28th. The shipping company reported $0.45 EPS for the quarter, beating the consensus estimate of $0.44 by $0.01. Golar LNG had a net margin of 38.11% and a return on equity of 10.15%. The firm had revenue of $63.19 million during the quarter, compared to analyst estimates of $72.27 million. Analysts expect that Golar LNG Limited will post 1.88 earnings per share for the current year.

Golar LNG Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Monday, June 17th. Stockholders of record on Monday, June 10th were given a dividend of $0.25 per share. This represents a $1.00 dividend on an annualized basis and a dividend yield of 2.98%. The ex-dividend date of this dividend was Monday, June 10th. Golar LNG’s dividend payout ratio is currently 95.24%.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently modified their holdings of the stock. Donald Smith & CO. Inc. boosted its holdings in Golar LNG by 197.1% in the 4th quarter. Donald Smith & CO. Inc. now owns 2,716,761 shares of the shipping company’s stock worth $62,458,000 after buying an additional 1,802,470 shares during the period. Norges Bank bought a new position in Golar LNG in the 4th quarter worth approximately $23,773,000. Sumitomo Mitsui DS Asset Management Company Ltd bought a new position in Golar LNG in the 4th quarter worth approximately $12,102,000. Vanguard Group Inc. boosted its holdings in Golar LNG by 74.4% in the 1st quarter. Vanguard Group Inc. now owns 1,015,644 shares of the shipping company’s stock worth $24,436,000 after buying an additional 433,299 shares during the period. Finally, American Century Companies Inc. boosted its holdings in Golar LNG by 59.1% in the 3rd quarter. American Century Companies Inc. now owns 888,096 shares of the shipping company’s stock worth $21,545,000 after buying an additional 330,059 shares during the period. 92.21% of the stock is owned by institutional investors.

About Golar LNG

(Get Free Report)

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.

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