Brokerages Set Golar LNG Limited (NASDAQ:GLNG) Price Target at $63.00

Golar LNG Limited (NASDAQ:GLNG) has been given an average recommendation of “Moderate Buy” by the seven analysts that are presently covering the company, Marketbeat Ratings reports. Two analysts have rated the stock with a hold recommendation, four have given a buy recommendation and one has issued a strong buy recommendation on the company. The average 12-month price objective among analysts that have covered the stock in the last year is $63.00.

Several research analysts have recently issued reports on GLNG shares. Deutsche Bank Aktiengesellschaft reissued a “buy” rating and issued a $65.00 price target on shares of Golar LNG in a research note on Thursday, May 21st. Weiss Ratings downgraded shares of Golar LNG from a “buy (b-)” rating to a “hold (c+)” rating in a report on Friday, August 21st. Pareto Securities upgraded shares of Golar LNG from a “hold” rating to a “buy” rating in a research report on Monday, August 24th. Wall Street Zen cut shares of Golar LNG from a “hold” rating to a “sell” rating in a research note on Saturday, June 27th. Finally, BTIG Research boosted their price target on shares of Golar LNG from $67.00 to $70.00 and gave the stock a “buy” rating in a research report on Friday, August 14th.

Golar LNG Stock Performance

GLNG opened at $50.29 on Thursday. The company has a current ratio of 2.34, a quick ratio of 2.34 and a debt-to-equity ratio of 1.11. The business’s 50 day moving average is $50.39 and its 200-day moving average is $50.56. The stock has a market cap of $5.10 billion, a PE ratio of 31.43 and a beta of 0.05. Golar LNG has a twelve month low of $35.02 and a twelve month high of $57.79.

Golar LNG Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, September 2nd. Stockholders of record on Monday, August 24th will be paid a $0.25 dividend. The ex-dividend date of this dividend is Monday, August 24th. This represents a $1.00 annualized dividend and a dividend yield of 2.0%. Golar LNG’s payout ratio is currently 62.50%.

Institutional Trading of Golar LNG

A number of large investors have recently added to or reduced their stakes in GLNG. California State Teachers Retirement System grew its position in Golar LNG by 1,175.7% in the second quarter. California State Teachers Retirement System now owns 67,483 shares of the shipping company’s stock worth $3,363,000 after buying an additional 62,193 shares during the last quarter. Headlands Technologies LLC acquired a new stake in shares of Golar LNG during the 2nd quarter valued at $1,079,000. Public Employees Retirement System of Ohio acquired a new stake in shares of Golar LNG during the 2nd quarter valued at $33,000. Militia Capital Management LLC bought a new stake in shares of Golar LNG during the 1st quarter worth $1,623,000. Finally, NewEdge Advisors LLC boosted its stake in shares of Golar LNG by 18,550.0% during the 1st quarter. NewEdge Advisors LLC now owns 9,325 shares of the shipping company’s stock worth $505,000 after acquiring an additional 9,275 shares in the last quarter. 92.21% of the stock is currently owned by 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.