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

Shares of Golar LNG Limited (NASDAQ:GLNG) have earned a consensus rating of “Moderate Buy” from the ten research firms that are presently covering the firm, Marketbeat Ratings reports. One investment analyst has rated the stock with a sell rating, two have issued a hold rating, four have assigned a buy rating and three have issued a strong buy rating on the company. The average twelve-month price target among brokerages that have covered the stock in the last year is $50.4167.

A number of equities analysts recently commented on the company. Zacks Research cut Golar LNG from a “hold” rating to a “strong sell” rating in a report on Friday, November 7th. BTIG Research reaffirmed a “buy” rating and issued a $50.00 price objective on shares of Golar LNG in a research report on Wednesday, November 5th. Wall Street Zen upgraded Golar LNG from a “sell” rating to a “hold” rating in a research note on Saturday. Citigroup began coverage on Golar LNG in a research note on Friday, October 10th. They issued a “buy” rating and a $51.00 price target on the stock. Finally, The Goldman Sachs Group began coverage on Golar LNG in a report on Monday, September 29th. They set a “buy” rating and a $54.00 price target for the company.

Golar LNG Stock Performance

Shares of GLNG opened at $35.33 on Tuesday. The firm has a 50-day moving average of $39.08 and a 200-day moving average of $40.48. Golar LNG has a one year low of $29.56 and a one year high of $45.98. The company has a market cap of $3.69 billion, a PE ratio of -504.64 and a beta of 0.29. 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 Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Monday, November 24th. Stockholders of record on Monday, November 17th were paid a dividend of $0.25 per share. This represents a $1.00 dividend on an annualized basis and a dividend yield of 2.8%. The ex-dividend date was Monday, November 17th. Golar LNG’s dividend payout ratio (DPR) is currently 175.44%.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently bought and sold shares of the stock. Quarry LP acquired a new stake in Golar LNG during the first quarter worth approximately $26,000. Caitong International Asset Management Co. Ltd increased its stake in shares of Golar LNG by 278.2% during the third quarter. Caitong International Asset Management Co. Ltd now owns 658 shares of the shipping company’s stock worth $27,000 after purchasing an additional 484 shares during the period. SVB Wealth LLC bought a new position in shares of Golar LNG during the first quarter worth approximately $31,000. Signaturefd LLC lifted its holdings in Golar LNG by 64.6% during the 2nd quarter. Signaturefd LLC now owns 856 shares of the shipping company’s stock worth $35,000 after purchasing an additional 336 shares during the last quarter. Finally, Smartleaf Asset Management LLC boosted its stake in Golar LNG by 281.9% in the 3rd quarter. Smartleaf Asset Management LLC now owns 909 shares of the shipping company’s stock valued at $37,000 after purchasing an additional 671 shares during the period. Institutional investors and hedge funds own 92.21% of the company’s stock.

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.