Golar LNG Limited (NASDAQ:GLNG) Receives $50.42 Average Target Price from Analysts

Golar LNG Limited (NASDAQ:GLNG) has earned an average rating of “Moderate Buy” from the ten brokerages that are covering the firm, Marketbeat.com reports. One analyst has rated the stock with a sell rating, two have issued a hold rating, four have issued a buy rating and three have given a strong buy rating to the company. The average twelve-month price target among analysts that have issued ratings on the stock in the last year is $50.4167.

Several analysts have recently issued reports on the stock. The Goldman Sachs Group initiated coverage on shares of Golar LNG in a research note on Monday, September 29th. They set a “buy” rating and a $54.00 price objective for the company. Zacks Research downgraded Golar LNG from a “hold” rating to a “strong sell” rating in a research report on Friday, November 7th. Wall Street Zen lowered Golar LNG from a “hold” rating to a “sell” rating in a research note on Saturday. BTIG Research reaffirmed a “buy” rating and issued a $50.00 price objective on shares of Golar LNG in a research note on Wednesday, November 5th. Finally, B. Riley reiterated a “neutral” rating and set a $44.50 target price on shares of Golar LNG in a report on Monday, August 25th.

Golar LNG Price Performance

Golar LNG stock opened at $37.29 on Friday. Golar LNG has a 1 year low of $29.56 and a 1 year high of $45.98. The company has a debt-to-equity ratio of 0.61, a quick ratio of 1.32 and a current ratio of 1.32. The firm has a 50 day moving average price of $38.15 and a 200 day moving average price of $40.15. The company has a market cap of $3.90 billion, a price-to-earnings ratio of 65.42 and a beta of 0.18.

Golar LNG Dividend Announcement

The firm also recently announced 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 2.7%. 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

Large investors have recently added to or reduced their stakes in the stock. Rubric Capital Management LP boosted its stake in Golar LNG by 2.3% during the second quarter. Rubric Capital Management LP now owns 9,178,978 shares of the shipping company’s stock worth $378,082,000 after buying an additional 203,829 shares in the last quarter. Encompass Capital Advisors LLC increased its stake in Golar LNG by 73.8% in the first quarter. Encompass Capital Advisors LLC now owns 2,276,083 shares of the shipping company’s stock valued at $86,468,000 after acquiring an additional 966,692 shares during the period. Cartenna Capital LP raised its holdings in shares of Golar LNG by 13.2% in the 3rd quarter. Cartenna Capital LP now owns 1,925,000 shares of the shipping company’s stock worth $77,789,000 after buying an additional 225,000 shares in the last quarter. State Street Corp raised its stake in shares of Golar LNG by 1.4% in the second quarter. State Street Corp now owns 1,914,741 shares of the shipping company’s stock worth $78,868,000 after acquiring an additional 26,838 shares during the last quarter. Finally, Appian Way Asset Management LP raised its holdings in Golar LNG by 34.8% during the 3rd quarter. Appian Way Asset Management LP now owns 1,633,582 shares of the shipping company’s stock worth $66,013,000 after purchasing an additional 421,375 shares during the last quarter. 92.21% of the stock is currently owned by institutional investors and hedge funds.

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.