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

Shares of Golar LNG Limited (NASDAQ:GLNG) have been given an average recommendation of “Moderate Buy” by the seven ratings firms that are covering the company, Marketbeat Ratings reports. One analyst has rated the stock with a sell rating, one has given a hold rating, three have given a buy rating and two have assigned a strong buy rating to the company. The average 1 year price target among brokers that have covered the stock in the last year is $49.1667.

A number of analysts have recently weighed in on GLNG shares. Zacks Research downgraded shares of Golar LNG from a “hold” rating to a “strong sell” rating in a report on Thursday, August 14th. BTIG Research restated a “buy” rating on shares of Golar LNG in a research note on Wednesday, May 28th. Wall Street Zen raised Golar LNG from a “sell” rating to a “hold” rating in a report on Sunday. Finally, B. Riley reissued a “neutral” rating and set a $44.50 price target on shares of Golar LNG in a report on Monday, August 25th.

Golar LNG Price Performance

Shares of NASDAQ GLNG opened at $41.70 on Thursday. The business has a fifty day moving average price of $41.71 and a two-hundred day moving average price of $39.64. The stock has a market capitalization of $4.36 billion, a PE ratio of -595.63 and a beta of 0.42. The company has a debt-to-equity ratio of 0.63, a current ratio of 1.47 and a quick ratio of 0.85. Golar LNG has a fifty-two week low of $29.56 and a fifty-two week high of $45.98.

Golar LNG (NASDAQ:GLNG) last posted its quarterly earnings results on Thursday, August 14th. The shipping company reported $0.26 EPS for the quarter, missing analysts’ consensus estimates of $0.29 by ($0.03). The company had revenue of $75.67 million during the quarter, compared to analyst estimates of $79.37 million. Golar LNG had a negative net margin of 2.83% and a positive return on equity of 6.36%. As a group, equities analysts predict that Golar LNG will post 1.39 earnings per share for the current fiscal year.

Golar LNG Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Tuesday, September 2nd. Shareholders of record on Tuesday, August 26th were paid a dividend of $0.25 per share. The ex-dividend date of this dividend was Tuesday, August 26th. This represents a $1.00 annualized dividend and a yield of 2.4%. Golar LNG’s payout ratio is presently -1,428.57%.

Hedge Funds Weigh In On Golar LNG

Institutional investors have recently added to or reduced their stakes in the stock. Quantbot Technologies LP lifted its stake in Golar LNG by 577.8% in the 1st quarter. Quantbot Technologies LP now owns 181,123 shares of the shipping company’s stock valued at $6,881,000 after purchasing an additional 154,402 shares during the last quarter. Exchange Traded Concepts LLC increased its holdings in shares of Golar LNG by 256.7% during the first quarter. Exchange Traded Concepts LLC now owns 9,050 shares of the shipping company’s stock worth $344,000 after buying an additional 6,513 shares in the last quarter. Farther Finance Advisors LLC lifted its stake in shares of Golar LNG by 8,554.0% in the 1st quarter. Farther Finance Advisors LLC now owns 8,654 shares of the shipping company’s stock valued at $321,000 after acquiring an additional 8,554 shares during the last quarter. Principal Financial Group Inc. boosted its holdings in shares of Golar LNG by 20.2% during the 1st quarter. Principal Financial Group Inc. now owns 6,561 shares of the shipping company’s stock valued at $249,000 after acquiring an additional 1,103 shares in the last quarter. Finally, Russell Investments Group Ltd. grew its position in Golar LNG by 4.1% during the 1st quarter. Russell Investments Group Ltd. now owns 61,990 shares of the shipping company’s stock worth $2,355,000 after acquiring an additional 2,435 shares during the last quarter. 92.21% of the stock is currently owned by institutional investors and hedge funds.

About Golar LNG

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.