Golar LNG (NASDAQ:GLNG) Sets New 1-Year High – What’s Next?

Golar LNG Limited (NASDAQ:GLNG) shares reached a new 52-week high on Wednesday . The stock traded as high as $47.62 and last traded at $47.4260, with a volume of 806372 shares trading hands. The stock had previously closed at $46.31.

Analyst Upgrades and Downgrades

A number of equities analysts have recently issued reports on the stock. The Goldman Sachs Group set a $56.00 target price on shares of Golar LNG in a research report on Monday, February 2nd. Zacks Research raised shares of Golar LNG from a “strong sell” rating to a “hold” rating in a report on Monday, January 5th. BTIG Research boosted their price objective on shares of Golar LNG from $50.00 to $53.00 and gave the stock a “buy” rating in a research report on Wednesday, February 25th. Weiss Ratings reaffirmed a “hold (c+)” rating on shares of Golar LNG in a report on Monday, December 29th. Finally, Wall Street Zen lowered Golar LNG from a “hold” rating to a “sell” rating in a research report on Saturday, February 28th. Two 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 stock. Based on data from MarketBeat.com, Golar LNG currently has a consensus rating of “Moderate Buy” and a consensus target price of $50.50.

Golar LNG Stock Performance

The company has a current ratio of 2.55, a quick ratio of 1.32 and a debt-to-equity ratio of 1.19. The company has a market cap of $5.33 billion, a price-to-earnings ratio of 79.63 and a beta of 0.18. The stock has a 50 day moving average price of $43.05 and a two-hundred day moving average price of $40.35.

Golar LNG (NASDAQ:GLNG) last released its quarterly earnings data on Wednesday, February 25th. The shipping company reported $0.30 EPS 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 company had revenue of $132.81 million during the quarter, compared to the consensus estimate of $123.29 million. Analysts predict that Golar LNG Limited will post 1.39 EPS for the current year.

Golar LNG Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Wednesday, March 18th. Stockholders of record on Monday, March 9th were paid a $0.25 dividend. The ex-dividend date of this dividend was Monday, March 9th. This represents a $1.00 dividend on an annualized basis and a dividend yield of 2.0%. Golar LNG’s dividend payout ratio is 156.25%.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently bought and sold shares of the company. Caitong International Asset Management Co. Ltd increased its stake in 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 valued at $27,000 after purchasing an additional 484 shares in the last quarter. Smartleaf Asset Management LLC boosted its position in shares of Golar LNG by 281.9% during the third quarter. Smartleaf Asset Management LLC now owns 909 shares of the shipping company’s stock worth $37,000 after purchasing an additional 671 shares in the last quarter. Allworth Financial LP grew its holdings in shares of Golar LNG by 43.5% in the 2nd quarter. Allworth Financial LP now owns 990 shares of the shipping company’s stock valued at $41,000 after buying an additional 300 shares during the period. Crossingbridge Advisors LLC acquired a new position in shares of Golar LNG in the 2nd quarter valued at $41,000. Finally, Zions Bancorporation National Association UT bought a new stake in shares of Golar LNG in the 4th quarter valued at $44,000. Institutional investors own 92.21% of the company’s stock.

About Golar LNG

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.