Golar LNG Limited (NASDAQ:GLNG) Receives Average Recommendation of “Moderate Buy” from Brokerages

Shares of Golar LNG Limited (NASDAQ:GLNG) have been given an average recommendation of “Moderate Buy” by the eight analysts that are presently covering the company, Marketbeat.com reports. Three research analysts have rated the stock with a hold rating, four have issued a buy rating and one has given a strong buy rating to the company. The average 1 year price objective among brokerages that have issued ratings on the stock in the last year is $58.70.

GLNG has been the topic of a number of research reports. Weiss Ratings upgraded Golar LNG from a “hold (c+)” rating to a “buy (b-)” rating in a research note on Tuesday, June 23rd. Pareto Securities downgraded Golar LNG from a “strong-buy” rating to a “hold” rating in a report on Thursday, May 21st. Wall Street Zen lowered shares of Golar LNG from a “hold” rating to a “sell” rating in a research report on Saturday, June 27th. The Goldman Sachs Group set a $66.00 target price on shares of Golar LNG and gave the company a “conviction-buy” rating in a report on Tuesday, July 7th. Finally, Deutsche Bank Aktiengesellschaft reiterated a “buy” rating and issued a $65.00 price target on shares of Golar LNG in a research report on Thursday, May 21st.

Institutional Investors Weigh In On Golar LNG

Several hedge funds have recently made changes to their positions in the business. Caitong International Asset Management Co. Ltd raised its stake in Golar LNG by 278.2% during the 3rd quarter. Caitong International Asset Management Co. Ltd now owns 658 shares of the shipping company’s stock valued at $27,000 after acquiring an additional 484 shares during the last quarter. AdvisorNet Financial Inc lifted its position in 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 acquiring an additional 268 shares during the period. Zions Bancorporation National Association UT purchased a new position in shares of Golar LNG in the 4th quarter valued at approximately $44,000. EverSource Wealth Advisors LLC grew its stake in shares of Golar LNG by 94.0% in the 2nd quarter. EverSource Wealth Advisors LLC now owns 1,356 shares of the shipping company’s stock valued at $56,000 after purchasing an additional 657 shares during the last quarter. Finally, Brown Brothers Harriman & Co. acquired a new position in shares of Golar LNG in the fourth quarter valued at approximately $65,000. Institutional investors and hedge funds own 92.21% of the company’s stock.

Golar LNG Price Performance

Shares of GLNG opened at $51.02 on Friday. Golar LNG has a 1-year low of $35.02 and a 1-year high of $57.79. The stock has a market cap of $5.17 billion, a PE ratio of 36.97 and a beta of 0.05. The company has a debt-to-equity ratio of 1.14, a current ratio of 2.57 and a quick ratio of 2.57. The firm has a fifty day moving average price of $50.09 and a 200 day moving average price of $49.40.

Golar LNG (NASDAQ:GLNG) last issued its quarterly earnings data on Thursday, March 26th. The shipping company reported $0.82 earnings per share (EPS) for the quarter. Golar LNG had a return on equity of 6.86% and a net margin of 30.10%.The company had revenue of $137.55 million for the quarter. As a group, sell-side analysts anticipate that Golar LNG will post 0.72 EPS for the current year.

Golar LNG Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Wednesday, June 10th. Shareholders of record on Monday, June 1st were paid a $0.25 dividend. The ex-dividend date was Monday, June 1st. This represents a $1.00 dividend on an annualized basis and a yield of 2.0%. Golar LNG’s payout ratio is currently 72.46%.

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.