Brokerages Set Golar LNG Limited (NASDAQ:GLNG) PT at $50.42

Shares of Golar LNG Limited (NASDAQ:GLNG) have earned a consensus recommendation of “Moderate Buy” from the ten ratings firms that are currently covering the stock, Marketbeat.com reports. One equities research analyst has rated the stock with a sell rating, two have assigned a hold rating, four have assigned a buy rating and three have given a strong buy rating to the company. The average 1 year price objective among brokers that have covered the stock in the last year is $50.4167.

A number of brokerages recently issued reports on GLNG. Wall Street Zen downgraded Golar LNG from a “hold” rating to a “sell” rating in a report on Sunday. The Goldman Sachs Group started coverage on Golar LNG in a research report on Monday, September 29th. They issued a “buy” rating and a $54.00 price objective on the stock. Weiss Ratings restated a “hold (c+)” rating on shares of Golar LNG in a report on Wednesday. Zacks Research lowered Golar LNG from a “hold” rating to a “strong sell” rating in a research note on Friday, November 7th. Finally, BTIG Research reissued a “buy” rating and set a $50.00 price objective on shares of Golar LNG in a research report on Wednesday, November 5th.

Golar LNG Trading Up 0.3%

Shares of GLNG opened at $36.95 on Tuesday. The stock has a market capitalization of $3.86 billion, a P/E ratio of -527.71 and a beta of 0.29. Golar LNG has a twelve month low of $29.56 and a twelve month high of $45.98. The company has a quick ratio of 0.85, a current ratio of 1.47 and a debt-to-equity ratio of 0.63. The firm has a fifty day simple moving average of $38.84 and a two-hundred day simple moving average of $40.41.

Golar LNG Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Monday, November 24th. Stockholders of record on Monday, November 17th were paid a dividend of $0.25 per share. The ex-dividend date of this dividend was Monday, November 17th. This represents a $1.00 dividend on an annualized basis and a dividend yield of 2.7%. Golar LNG’s payout ratio is presently 175.44%.

Institutional Trading of Golar LNG

Several institutional investors and hedge funds have recently bought and sold shares of the stock. Texas Yale Capital Corp. grew its holdings in shares of Golar LNG by 809.0% during the 1st quarter. Texas Yale Capital Corp. now owns 75,450 shares of the shipping company’s stock worth $2,866,000 after acquiring an additional 67,150 shares during the period. Maridea Wealth Management LLC boosted its position in shares of Golar LNG by 22.7% during the first quarter. Maridea Wealth Management LLC now owns 18,948 shares of the shipping company’s stock valued at $720,000 after purchasing an additional 3,501 shares in the last quarter. XTX Topco Ltd purchased a new stake in Golar LNG in the first quarter worth $899,000. Intrust Bank NA raised its holdings in Golar LNG by 7.9% in the first quarter. Intrust Bank NA now owns 39,359 shares of the shipping company’s stock worth $1,495,000 after purchasing an additional 2,885 shares in the last quarter. Finally, Headlands Technologies LLC bought a new position in Golar LNG in the first quarter worth $331,000. 92.21% of the stock is currently owned by hedge funds and other institutional investors.

About Golar LNG

Golar LNG Limited designs, converts, owns, and operates marine infrastructure for the liquefaction of natural gas. The company operates through three segments: FLNG, Corporate and Other, and Shipping. It engages in the regasification, storage, and offloading of liquefied natural gas (LNG); operation of floating liquefaction natural gas (FLNG) vessels or projects; transportation of LNG carriers; and vessel management activities.