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

Shares of Golar LNG Limited (NASDAQ:GLNG) have earned a consensus rating of “Moderate Buy” from the ten ratings firms that are currently covering the stock, Marketbeat.com reports. One research analyst has rated the stock with a sell rating, two have assigned a hold rating, four have assigned a buy rating and three have issued a strong buy rating on the company. The average 1-year price objective among brokerages that have updated their coverage on the stock in the last year is $50.4167.

Several equities analysts recently weighed in on GLNG shares. B. Riley reiterated a “neutral” rating and issued a $44.50 price target on shares of Golar LNG in a report on Monday, August 25th. BTIG Research reaffirmed a “buy” rating and issued a $50.00 price target on shares of Golar LNG in a report on Wednesday, November 5th. Weiss Ratings reissued a “hold (c+)” rating on shares of Golar LNG in a report on Monday. Wall Street Zen downgraded Golar LNG from a “hold” rating to a “sell” rating in a report on Saturday. Finally, Zacks Research lowered Golar LNG from a “hold” rating to a “strong sell” rating in a research report on Friday, November 7th.

Golar LNG Price Performance

Shares of GLNG opened at $38.09 on Friday. The company has a debt-to-equity ratio of 0.61, a current ratio of 1.32 and a quick ratio of 1.32. The company’s fifty day moving average price is $38.20 and its 200-day moving average price is $40.20. Golar LNG has a 1-year low of $29.56 and a 1-year high of $45.98. The firm has a market capitalization of $3.98 billion, a PE ratio of 66.83 and a beta of 0.18.

Golar LNG Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Monday, November 24th. Investors of record on Monday, November 17th were issued a dividend of $0.25 per share. The ex-dividend date of this dividend was Monday, November 17th. This represents a $1.00 dividend on an annualized basis and a yield of 2.6%. Golar LNG’s dividend payout ratio is 175.44%.

Institutional Inflows and Outflows

A number of large investors have recently modified their holdings of GLNG. Quarry LP acquired a new stake in shares of Golar LNG during the 1st quarter valued at about $26,000. Caitong International Asset Management Co. Ltd grew its holdings in Golar LNG by 278.2% in the third quarter. Caitong International Asset Management Co. Ltd now owns 658 shares of the shipping company’s stock valued at $27,000 after purchasing an additional 484 shares during the period. SVB Wealth LLC purchased a new stake in shares of Golar LNG in the first quarter valued at approximately $31,000. Signaturefd LLC raised its stake in shares of 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 buying an additional 336 shares during the period. Finally, Smartleaf Asset Management LLC lifted its position in shares of Golar LNG by 281.9% during the 3rd quarter. Smartleaf Asset Management LLC now owns 909 shares of the shipping company’s stock valued at $37,000 after buying an additional 671 shares in the last quarter. Institutional investors and hedge funds own 92.21% of the company’s stock.

About Golar LNG

Golar LNG Ltd. is a leading owner and operator of liquefied natural gas (LNG) carriers and floating infrastructure. The company specializes in the transportation of LNG on long-term and spot charters for major energy firms around the world. In addition to shipping, Golar LNG has broadened its services to include project development and the conversion of existing carriers into Floating Liquefied Natural Gas (FLNG) and Floating Storage and Regasification Unit (FSRU) vessels.

Since pioneering the first purpose-built FLNG conversion project, Golar LNG has been at the forefront of offshore gas monetization.