Golar LNG Limited (NASDAQ:GLNG) Stock Has Consensus Price Target of $68.67

Shares of Golar LNG Limited (NASDAQ:GLNG) have received a consensus rating of “Buy” from the six analysts that are covering the company, Marketbeat Ratings reports. One investment analyst has rated the stock with a hold recommendation, four have given a buy recommendation and one has given a strong buy recommendation to the company. The average 1-year price objective among brokerages that have updated their coverage on the stock in the last year is $68.67.

Several research firms recently weighed in on GLNG. Weiss Ratings raised shares of Golar LNG from a “hold (c+)” rating to a “buy (b-)” rating in a research report on Thursday, October 8th. BTIG Research raised their target price on shares of Golar LNG from $70.00 to $75.00 and gave the company a “buy” rating in a report on Thursday, September 24th. Pareto Securities upgraded shares of Golar LNG from a “hold” rating to a “buy” rating in a research report on Monday, August 24th. Wall Street Zen downgraded shares of Golar LNG from a “hold” rating to a “sell” rating in a research report on Saturday, June 27th. Finally, The Goldman Sachs Group set a $66.00 price objective on shares of Golar LNG and gave the company a “conviction-buy” rating in a research report on Tuesday, July 7th.

Hedge Funds Weigh In On Golar LNG

Institutional investors have recently modified their holdings of the business. AdvisorNet Financial Inc lifted its position in shares of Golar LNG by 108.5% during the 1st quarter. AdvisorNet Financial Inc now owns 515 shares of the shipping company’s stock worth $28,000 after buying an additional 268 shares during the last quarter. Public Employees Retirement System of Ohio bought a new position in Golar LNG in the second quarter valued at about $33,000. GAMMA Investing LLC grew its position in Golar LNG by 38.7% in the third quarter. GAMMA Investing LLC now owns 1,078 shares of the shipping company’s stock valued at $51,000 after acquiring an additional 301 shares during the last quarter. EverSource Wealth Advisors LLC grew its holdings in shares of Golar LNG by 17.0% during the 1st quarter. EverSource Wealth Advisors LLC now owns 1,532 shares of the shipping company’s stock valued at $83,000 after purchasing an additional 223 shares during the last quarter. Finally, Leonteq Securities AG lifted its stake in Golar LNG by 253,100.0% in the 1st quarter. Leonteq Securities AG now owns 2,532 shares of the shipping company’s stock valued at $137,000 after purchasing an additional 2,531 shares during the last quarter. Institutional investors and hedge funds own 92.21% of the company’s stock.

Golar LNG Stock Performance

NASDAQ:GLNG opened at $44.03 on Friday. The stock has a fifty day moving average price of $49.94 and a 200-day moving average price of $51.09. The company has a market cap of $4.46 billion, a price-to-earnings ratio of 23.68 and a beta of 0.13. The company has a debt-to-equity ratio of 1.11, a quick ratio of 2.34 and a current ratio of 2.34. Golar LNG has a fifty-two week low of $35.02 and a fifty-two week high of $57.79.

Golar LNG Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Wednesday, September 2nd. Stockholders of record on Monday, August 24th were paid a $0.25 dividend. The ex-dividend date was Monday, August 24th. This represents a $1.00 annualized dividend and a dividend yield of 2.3%. Golar LNG’s dividend payout ratio (DPR) is presently 62.50%.

Golar LNG Company Profile

Golar LNG Limited is a Bermuda-based company focused on liquefied natural gas (LNG) infrastructure and maritime services. The company specializes in floating liquefied natural gas (FLNG) facilities, which are converted vessels designed to process natural gas offshore, remove impurities, and liquefy it for transportation by LNG carriers.

Golar owns and operates FLNG vessels and provides related project development, engineering, operations, and maintenance services. Its Hilli Episeyo FLNG facility is deployed offshore Cameroon, where it processes natural gas from the Kribi field for export.