Golar LNG Sees Unusually Large Options Volume (NASDAQ:GLNG)

Golar LNG Limited (NASDAQ:GLNG) was the recipient of some unusual options trading on Wednesday. Traders acquired 9,333 call options on the stock. This is an increase of 265% compared to the average volume of 2,559 call options.

Institutional Investors Weigh In On Golar LNG

Several institutional investors and hedge funds have recently added to or reduced their stakes in GLNG. Caitong International Asset Management Co. Ltd lifted its stake in shares of 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 worth $27,000 after buying an additional 484 shares during the last quarter. Smartleaf Asset Management LLC lifted its position in Golar LNG by 281.9% during the 3rd quarter. Smartleaf Asset Management LLC now owns 909 shares of the shipping company’s stock worth $37,000 after acquiring an additional 671 shares during the last quarter. Allworth Financial LP boosted its holdings in Golar LNG by 43.5% during the second quarter. Allworth Financial LP now owns 990 shares of the shipping company’s stock valued at $41,000 after acquiring an additional 300 shares during the period. Crossingbridge Advisors LLC acquired a new stake in shares of Golar LNG in the second quarter valued at about $41,000. Finally, Zions Bancorporation National Association UT bought a new position in shares of Golar LNG in the fourth quarter worth about $44,000. 92.21% of the stock is currently owned by institutional investors and hedge funds.

Golar LNG Price Performance

NASDAQ GLNG opened at $46.65 on Thursday. The company has a quick ratio of 1.32, a current ratio of 2.55 and a debt-to-equity ratio of 1.19. The stock has a market capitalization of $4.88 billion, a PE ratio of 72.89 and a beta of 0.18. Golar LNG has a 12-month low of $29.56 and a 12-month high of $47.21. The company has a 50 day moving average price of $41.21 and a two-hundred day moving average price of $40.13.

Golar LNG (NASDAQ:GLNG) last released its quarterly earnings results on Wednesday, February 25th. The shipping company reported $0.30 earnings per share for the quarter, missing analysts’ consensus estimates of $0.38 by ($0.08). The business had revenue of $132.81 million for the quarter, compared to the consensus estimate of $123.29 million. Golar LNG had a net margin of 16.69% and a return on equity of 6.24%. 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 business also recently declared a quarterly dividend, which will be paid on Wednesday, March 18th. Stockholders of record on Monday, March 9th will be paid a dividend of $0.25 per share. This represents a $1.00 annualized dividend and a dividend yield of 2.1%. The ex-dividend date is Monday, March 9th. Golar LNG’s dividend payout ratio is 156.25%.

Analyst Ratings Changes

Several equities analysts have weighed in on GLNG shares. Wall Street Zen cut Golar LNG from a “hold” rating to a “sell” rating in a research note on Saturday, February 28th. Zacks Research raised shares of Golar LNG from a “strong sell” rating to a “hold” rating in a research report on Monday, January 5th. Weiss Ratings reiterated a “hold (c+)” rating on shares of Golar LNG in a research note on Monday, December 29th. BTIG Research lifted their target price on shares of Golar LNG from $50.00 to $53.00 and gave the company a “buy” rating in a research note on Wednesday, February 25th. Finally, The Goldman Sachs Group set a $56.00 price target on shares of Golar LNG in a report on Monday, February 2nd. Three 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, Golar LNG has an average rating of “Buy” and an average target price of $50.50.

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.