Golar LNG (NASDAQ:GLNG) Stock Price Crosses Above 200 Day Moving Average – Should You Sell?

Golar LNG Limited (NASDAQ:GLNG)’s share price passed above its 200-day moving average during trading on Wednesday . The stock has a 200-day moving average of $39.66 and traded as high as $40.31. Golar LNG shares last traded at $40.29, with a volume of 1,656,569 shares.

Analyst Ratings Changes

A number of brokerages recently weighed in on GLNG. BTIG Research reaffirmed a “buy” rating and set a $50.00 price objective on shares of Golar LNG in a research report on Wednesday, November 5th. Citigroup assumed coverage on Golar LNG in a report on Friday, October 10th. They set a “buy” rating and a $51.00 target price for the company. The Goldman Sachs Group initiated coverage on Golar LNG in a report on Monday, September 29th. They issued a “buy” rating and a $54.00 price target on the stock. Zacks Research upgraded Golar LNG from a “strong sell” rating to a “hold” rating in a research note on Monday, January 5th. Finally, Weiss Ratings reiterated a “hold (c+)” rating on shares of Golar LNG in a research note on Monday, December 29th. Three research analysts have rated the stock with a Strong Buy rating, three have given a Buy rating and three have given a Hold rating to the stock. According to MarketBeat, Golar LNG currently has a consensus rating of “Buy” and a consensus target price of $49.50.

Golar LNG Stock Up 3.7%

The firm has a market cap of $4.21 billion, a price-to-earnings ratio of 70.69 and a beta of 0.18. The stock’s 50 day moving average is $37.78 and its 200 day moving average is $39.66. The company has a quick ratio of 1.32, a current ratio of 1.32 and a debt-to-equity ratio of 0.61.

Golar LNG Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Monday, November 24th. Stockholders of record on Monday, November 17th were paid a $0.25 dividend. This represents a $1.00 dividend on an annualized basis and a dividend yield of 2.5%. The ex-dividend date of this dividend was Monday, November 17th. Golar LNG’s payout ratio is currently 175.44%.

Institutional Investors Weigh In On Golar LNG

Several hedge funds and other institutional investors have recently bought and sold shares of the business. Caitong International Asset Management Co. Ltd raised its holdings in shares of Golar LNG by 278.2% in the 3rd 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 in the last quarter. Signaturefd LLC grew its position in Golar LNG by 64.6% in the second quarter. Signaturefd LLC now owns 856 shares of the shipping company’s stock worth $35,000 after buying an additional 336 shares during the last quarter. Smartleaf Asset Management LLC grew its position in Golar LNG by 281.9% in the third quarter. Smartleaf Asset Management LLC now owns 909 shares of the shipping company’s stock worth $37,000 after buying an additional 671 shares during the last quarter. Allworth Financial LP increased its holdings in shares of Golar LNG by 43.5% in the second quarter. Allworth Financial LP now owns 990 shares of the shipping company’s stock valued at $41,000 after buying an additional 300 shares in the last quarter. Finally, Crossingbridge Advisors LLC acquired a new stake in shares of Golar LNG during the 2nd quarter valued at $41,000. 92.21% of the stock is currently owned by institutional investors.

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.