Golar LNG Target of Unusually Large Options Trading (NASDAQ:GLNG)

Golar LNG Limited (NASDAQ:GLNG) was the recipient of some unusual options trading on Monday. Stock traders purchased 84,881 call options on the company. This represents an increase of approximately 2,159% compared to the average volume of 3,757 call options.

Hedge Funds Weigh In On Golar LNG

A number of institutional investors have recently modified their holdings of the stock. Caitong International Asset Management Co. Ltd grew its holdings in Golar LNG by 278.2% during 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 during the period. AdvisorNet Financial Inc boosted its holdings in Golar LNG by 108.5% during the first quarter. AdvisorNet Financial Inc now owns 515 shares of the shipping company’s stock worth $28,000 after purchasing an additional 268 shares during the last quarter. Smartleaf Asset Management LLC boosted its holdings in 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 during the last quarter. Zions Bancorporation National Association UT acquired a new position in Golar LNG during the fourth quarter worth $44,000. Finally, EverSource Wealth Advisors LLC lifted its stake in Golar LNG by 94.0% in the second quarter. EverSource Wealth Advisors LLC now owns 1,356 shares of the shipping company’s stock valued at $56,000 after acquiring an additional 657 shares during the last quarter. 92.21% of the stock is owned by institutional investors.

Golar LNG Price Performance

Shares of Golar LNG stock traded up $0.46 during trading on Monday, hitting $56.16. 1,482,057 shares of the company’s stock traded hands, compared to its average volume of 1,787,114. The company has a debt-to-equity ratio of 1.19, a current ratio of 2.55 and a quick ratio of 2.55. The firm’s fifty day moving average price is $50.45 and its 200 day moving average price is $43.11. Golar LNG has a twelve month low of $35.02 and a twelve month high of $56.81. The company has a market cap of $5.69 billion, a PE ratio of 87.85 and a beta of 0.06.

Golar LNG (NASDAQ:GLNG) last issued its earnings results on Saturday, February 14th. The shipping company reported $0.09 earnings per share for the quarter. Golar LNG had a net margin of 16.69% and a return on equity of 6.24%. The business had revenue of $132.81 million for the quarter. Analysts forecast that Golar LNG will post 0.58 earnings per share for the current year.

Golar LNG Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Wednesday, March 18th. Shareholders 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 1.8%. Golar LNG’s payout ratio is currently 156.25%.

Analyst Ratings Changes

A number of brokerages have recently commented on GLNG. The Goldman Sachs Group set a $56.00 price target on Golar LNG in a research note on Monday, February 2nd. BTIG Research lifted their price target on Golar LNG from $50.00 to $53.00 and gave the company a “buy” rating in a research note on Wednesday, February 25th. Zacks Research raised Golar LNG from a “strong sell” rating to a “hold” rating in a research note on Monday, January 5th. Finally, Wall Street Zen lowered Golar LNG from a “hold” rating to a “sell” rating in a research note on Saturday, April 25th. One analyst has rated the stock with a Strong Buy rating, two have issued a Buy rating and three have assigned a Hold rating to the company. According to data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $51.13.

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.