Golar LNG Limited (NASDAQ:GLNG) Given Average Recommendation of “Moderate Buy” by Analysts

Shares of Golar LNG Limited (NASDAQ:GLNG) have been given an average rating of “Moderate Buy” by the eight research firms that are currently covering the firm, MarketBeat reports. Four investment analysts have rated the stock with a hold rating, three have assigned a buy rating and one has assigned a strong buy rating to the company. The average 1 year price objective among brokerages that have covered the stock in the last year is $56.70.

GLNG has been the subject of several recent analyst reports. Wall Street Zen raised shares of Golar LNG from a “sell” rating to a “hold” rating in a report on Saturday, May 23rd. Pareto Securities cut shares of Golar LNG from a “strong-buy” rating to a “hold” rating in a report on Thursday, May 21st. BTIG Research reaffirmed a “buy” rating and issued a $67.00 target price on shares of Golar LNG in a report on Wednesday, May 20th. Weiss Ratings raised shares of Golar LNG from a “hold (c)” rating to a “hold (c+)” rating in a report on Monday, June 1st. Finally, Deutsche Bank Aktiengesellschaft reaffirmed a “buy” rating and issued a $65.00 target price on shares of Golar LNG in a report on Thursday, May 21st.

Institutional Inflows and Outflows

Large investors have recently bought and sold shares of the company. AdvisorNet Financial Inc raised its holdings in Golar LNG by 108.5% in the first 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. Caitong International Asset Management Co. Ltd raised its holdings 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 worth $27,000 after buying an additional 484 shares during the last quarter. Smartleaf Asset Management LLC raised its holdings in Golar LNG by 281.9% in the third quarter. Smartleaf Asset Management LLC now owns 909 shares of the shipping company’s stock worth $37,000 after buying an additional 671 shares during the last quarter. Zions Bancorporation National Association UT purchased a new position in shares of Golar LNG during the fourth quarter valued at approximately $44,000. Finally, EverSource Wealth Advisors LLC raised its holdings in shares of Golar LNG by 94.0% during the second 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. 92.21% of the stock is owned by hedge funds and other institutional investors.

Golar LNG Stock Performance

Shares of NASDAQ GLNG opened at $49.60 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 $5.03 billion, a P/E ratio of 35.94 and a beta of 0.02. The firm has a 50-day moving average of $52.86 and a 200 day moving average of $46.48. The company has a debt-to-equity ratio of 1.14, a current ratio of 2.57 and a quick ratio of 2.57.

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

Golar LNG Dividend Announcement

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

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.