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

Golar LNG Limited (NASDAQ:GLNG) crossed above its 200-day moving average during trading on Thursday . The stock has a 200-day moving average of $39.64 and traded as high as $41.99. Golar LNG shares last traded at $40.99, with a volume of 952,855 shares.

Analysts Set New Price Targets

Several research analysts have weighed in on GLNG shares. BTIG Research reissued a “buy” rating and issued a $50.00 price target on shares of Golar LNG in a report on Wednesday, November 5th. Zacks Research upgraded Golar LNG from a “strong sell” rating to a “hold” rating in a research note on Monday, January 5th. Citigroup started coverage on Golar LNG in a report on Friday, October 10th. They set a “buy” rating and a $51.00 price target for the company. Weiss Ratings reaffirmed a “hold (c+)” rating on shares of Golar LNG in a report on Monday, December 29th. Finally, Wall Street Zen cut Golar LNG from a “hold” rating to a “sell” rating in a research report on Saturday, December 20th. Three equities research analysts have rated the stock with a Strong Buy rating, three have assigned a Buy rating and three have assigned a Hold rating to the company. Based on data from MarketBeat.com, Golar LNG presently has an average rating of “Buy” and an average target price of $49.50.

Golar LNG Stock Up 0.2%

The stock has a 50-day moving average of $38.16 and a 200-day moving average of $39.64. 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 firm has a market cap of $4.29 billion, a price-to-earnings ratio of 71.91 and a beta of 0.18.

Golar LNG Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Monday, November 24th. Shareholders of record on Monday, November 17th were issued a $0.25 dividend. This represents a $1.00 annualized dividend and a yield of 2.4%. The ex-dividend date of this dividend was Monday, November 17th. Golar LNG’s dividend payout ratio (DPR) is currently 175.44%.

Institutional Trading of Golar LNG

A number of institutional investors and hedge funds have recently made changes to their positions in GLNG. Amundi raised its position in Golar LNG by 29.6% during the first quarter. Amundi now owns 19,586 shares of the shipping company’s stock valued at $744,000 after purchasing an additional 4,468 shares in the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. increased its stake in shares of Golar LNG by 4.6% in the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 58,915 shares of the shipping company’s stock valued at $2,238,000 after purchasing an additional 2,572 shares during the last quarter. Signaturefd LLC raised its holdings 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 in the last quarter. Ascent Group LLC bought a new stake in shares of Golar LNG during the 2nd quarter worth $206,000. Finally, Fortitude Advisory Group L.L.C. boosted its stake in Golar LNG by 213.3% in the second quarter. Fortitude Advisory Group L.L.C. now owns 22,756 shares of the shipping company’s stock valued at $937,000 after buying an additional 15,493 shares in the last quarter. Institutional investors own 92.21% of the company’s stock.

Golar LNG Company Profile

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.