Golar LNG (NASDAQ:GLNG) Reaches New 12-Month High – Should You Buy?

Shares of Golar LNG Limited (NASDAQ:GLNG) reached a new 52-week high during mid-day trading on Monday . The stock traded as high as $46.23 and last traded at $45.7090, with a volume of 263942 shares trading hands. The stock had previously closed at $45.79.

Analysts Set New Price Targets

A number of equities analysts recently commented on the company. The Goldman Sachs Group set a $56.00 target price on Golar LNG in a report on Monday, February 2nd. Zacks Research raised shares of Golar LNG from a “strong sell” rating to a “hold” rating in a research note on Monday, January 5th. Weiss Ratings restated a “hold (c+)” rating on shares of Golar LNG in a report on Monday, December 29th. Wall Street Zen raised shares of Golar LNG from a “sell” rating to a “hold” rating in a research note on Saturday, February 14th. Finally, BTIG Research reiterated a “buy” rating and set a $50.00 target price on shares of Golar LNG in a report on Wednesday, November 5th. Three investment analysts have rated the stock with a Strong Buy rating, three have given a Buy rating and three have given a Hold rating to the company. Based on data from MarketBeat, Golar LNG currently has an average rating of “Buy” and an average price target of $49.90.

Golar LNG Stock Down 1.2%

The firm has a market cap of $4.69 billion, a PE ratio of 78.72 and a beta of 0.20. The company has a current ratio of 1.32, a quick ratio of 1.32 and a debt-to-equity ratio of 0.61. The firm has a 50 day moving average price of $40.31 and a 200-day moving average price of $39.93.

Institutional Investors Weigh In On Golar LNG

Large investors have recently modified their holdings of the company. State of Alaska Department of Revenue grew its stake in shares of Golar LNG by 6.4% during the fourth quarter. State of Alaska Department of Revenue now owns 4,540 shares of the shipping company’s stock worth $168,000 after purchasing an additional 274 shares in the last quarter. Allworth Financial LP lifted its holdings in Golar LNG by 43.5% during the 2nd quarter. Allworth Financial LP now owns 990 shares of the shipping company’s stock worth $41,000 after buying an additional 300 shares during the last quarter. Franklin Resources Inc. lifted its holdings in Golar LNG by 2.2% during the 4th quarter. Franklin Resources Inc. now owns 16,707 shares of the shipping company’s stock worth $622,000 after buying an additional 359 shares during the last quarter. Metis Global Partners LLC boosted its position in shares of Golar LNG by 6.1% during the 2nd quarter. Metis Global Partners LLC now owns 6,829 shares of the shipping company’s stock worth $281,000 after acquiring an additional 395 shares in the last quarter. Finally, State of Wyoming increased its holdings in shares of Golar LNG by 12.7% in the 4th quarter. State of Wyoming now owns 3,878 shares of the shipping company’s stock valued at $144,000 after acquiring an additional 436 shares during the last quarter. 92.21% of the stock is owned by hedge funds and other institutional investors.

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.