Golar LNG Limited (NASDAQ:GLNG) Given Consensus Rating of “Buy” by Analysts

Golar LNG Limited (NASDAQ:GLNG) has earned an average recommendation of “Buy” from the six ratings firms that are covering the company, Marketbeat.com reports. One investment analyst has rated the stock with a hold recommendation, four have issued a buy recommendation and one has given a strong buy recommendation to the company. The average twelve-month price target among analysts that have issued ratings on the stock in the last year is $50.13.

Several equities research analysts have commented on GLNG shares. StockNews.com raised Golar LNG to a “sell” rating in a report on Thursday, March 20th. Fearnley Fonds raised Golar LNG from a “hold” rating to a “strong-buy” rating in a research report on Wednesday, March 19th. Stifel Nicolaus increased their price objective on shares of Golar LNG from $53.00 to $55.00 and gave the company a “buy” rating in a research report on Tuesday, December 24th. Finally, DNB Markets lowered shares of Golar LNG from a “buy” rating to a “hold” rating in a research note on Wednesday, February 19th.

Institutional Investors Weigh In On Golar LNG

Several large investors have recently bought and sold shares of the business. Naria Inc. purchased a new stake in shares of Golar LNG during the 4th quarter valued at about $435,226,000. Millennium Management LLC grew its position in Golar LNG by 49.2% in the 4th quarter. Millennium Management LLC now owns 4,638,045 shares of the shipping company’s stock worth $196,282,000 after purchasing an additional 1,529,884 shares during the period. Healthcare of Ontario Pension Plan Trust Fund raised its stake in Golar LNG by 467.9% during the 3rd quarter. Healthcare of Ontario Pension Plan Trust Fund now owns 2,237,000 shares of the shipping company’s stock valued at $82,232,000 after buying an additional 1,843,100 shares during the last quarter. State Street Corp lifted its holdings in shares of Golar LNG by 5.2% during the 3rd quarter. State Street Corp now owns 1,920,590 shares of the shipping company’s stock valued at $70,601,000 after buying an additional 94,336 shares during the period. Finally, Encompass Capital Advisors LLC bought a new stake in shares of Golar LNG in the fourth quarter worth $55,413,000. 92.21% of the stock is currently owned by institutional investors.

Golar LNG Stock Up 7.7 %

Shares of GLNG opened at $40.67 on Thursday. The stock has a market cap of $4.25 billion, a P/E ratio of 290.52 and a beta of 0.78. The business’s 50 day moving average price is $38.83 and its 200-day moving average price is $38.51. Golar LNG has a 52 week low of $23.45 and a 52 week high of $44.36.

Golar LNG Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Tuesday, March 18th. Stockholders of record on Tuesday, March 11th were issued a dividend of $0.25 per share. This represents a $1.00 dividend on an annualized basis and a dividend yield of 2.46%. The ex-dividend date of this dividend was Tuesday, March 11th. Golar LNG’s payout ratio is currently 208.33%.

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.