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

Shares of Golar LNG Limited (NASDAQ:GLNGGet Free Report) have been assigned a consensus recommendation of “Moderate Buy” from the eight brokerages that are currently covering the stock, MarketBeat Ratings reports. Three equities research analysts have rated the stock with a hold rating, three have issued a buy rating and two have issued a strong buy rating on the company. The average 12-month target price among analysts that have covered the stock in the last year is $50.50.

A number of equities research analysts recently commented on GLNG shares. BTIG Research upped their target price on Golar LNG from $50.00 to $53.00 and gave the company a “buy” rating in a research report on Wednesday, February 25th. Weiss Ratings reissued a “hold (c+)” rating on shares of Golar LNG in a research report on Monday, December 29th. The Goldman Sachs Group set a $56.00 price objective on shares of Golar LNG in a research note on Monday, February 2nd. Wall Street Zen raised shares of Golar LNG from a “sell” rating to a “hold” rating in a report on Saturday. Finally, Zacks Research upgraded shares of Golar LNG from a “strong sell” rating to a “hold” rating in a research note on Monday, January 5th.

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Key Golar LNG News

Here are the key news stories impacting Golar LNG this week:

Hedge Funds Weigh In On Golar LNG

A number of institutional investors have recently modified their holdings of GLNG. Tejara Capital Ltd lifted its holdings in shares of Golar LNG by 44.0% in the 3rd quarter. Tejara Capital Ltd now owns 196,526 shares of the shipping company’s stock valued at $7,942,000 after buying an additional 60,093 shares during the period. Permanent Capital Management LP acquired a new stake in Golar LNG during the third quarter worth about $2,114,000. Huber Capital Management LLC raised its position in Golar LNG by 12.4% during the third quarter. Huber Capital Management LLC now owns 923,718 shares of the shipping company’s stock valued at $37,327,000 after acquiring an additional 102,200 shares in the last quarter. King Luther Capital Management Corp purchased a new position in Golar LNG during the third quarter valued at approximately $1,179,000. Finally, ARS Investment Partners LLC lifted its holdings in Golar LNG by 14.7% in the third quarter. ARS Investment Partners LLC now owns 296,059 shares of the shipping company’s stock valued at $11,964,000 after acquiring an additional 38,040 shares during the period. Hedge funds and other institutional investors own 92.21% of the company’s stock.

Golar LNG Stock Performance

Shares of GLNG opened at $55.03 on Monday. The company has a debt-to-equity ratio of 1.19, a quick ratio of 2.55 and a current ratio of 2.55. The stock has a 50-day moving average of $44.78 and a two-hundred day moving average of $40.77. The stock has a market cap of $5.58 billion, a P/E ratio of 85.99 and a beta of 0.18. Golar LNG has a one year low of $29.56 and a one year high of $55.80.

Golar LNG (NASDAQ:GLNGGet Free Report) last announced its quarterly earnings data 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). Golar LNG had a net margin of 16.69% and a return on equity of 6.24%. The firm had revenue of $132.81 million during the quarter, compared to analyst estimates of $123.29 million. As a group, research analysts predict that Golar LNG will post 1.39 EPS for the current year.

Golar LNG Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Wednesday, March 18th. Shareholders of record on Monday, March 9th were issued a $0.25 dividend. This represents a $1.00 annualized dividend and a yield of 1.8%. The ex-dividend date of this dividend was Monday, March 9th. Golar LNG’s dividend payout ratio is presently 156.25%.

Golar LNG Company Profile

(Get Free Report)

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.

Further Reading

Analyst Recommendations for Golar LNG (NASDAQ:GLNG)

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