Golar LNG (NASDAQ:GLNG) Sees Unusually-High Trading Volume – Here’s Why

Golar LNG Limited (NASDAQ:GLNG) shares saw unusually-high trading volume on Wednesday . Approximately 1,628,690 shares were traded during mid-day trading, an increase of 1% from the previous session’s volume of 1,617,608 shares.The stock last traded at $49.8870 and had previously closed at $49.76.

Wall Street Analyst Weigh In

Several research firms have recently weighed in on GLNG. The Goldman Sachs Group set a $66.00 price objective on shares of Golar LNG and gave the stock a “conviction-buy” rating in a research note on Tuesday, July 7th. BTIG Research reiterated a “buy” rating and set a $67.00 price target on shares of Golar LNG in a report on Wednesday, May 20th. Pareto Securities downgraded Golar LNG from a “strong-buy” rating to a “hold” rating in a research report on Thursday, May 21st. Deutsche Bank Aktiengesellschaft restated a “buy” rating and issued a $65.00 price objective on shares of Golar LNG in a research note on Thursday, May 21st. Finally, Wall Street Zen downgraded Golar LNG from a “hold” rating to a “sell” rating in a research note on Saturday, June 27th. One analyst has rated the stock with a Strong Buy rating, four have assigned a Buy rating and three have assigned a Hold rating to the company. According to MarketBeat.com, Golar LNG presently has an average rating of “Moderate Buy” and a consensus target price of $58.70.

Golar LNG Stock Up 1.6%

The company has a current ratio of 2.57, a quick ratio of 2.57 and a debt-to-equity ratio of 1.14. The firm has a market cap of $5.12 billion, a price-to-earnings ratio of 36.58 and a beta of 0.02. The firm’s 50 day simple moving average is $51.23 and its two-hundred day simple moving average is $48.51.

Golar LNG (NASDAQ:GLNG) last announced its earnings results on Thursday, March 26th. The shipping company reported $0.82 EPS for the quarter. The company had revenue of $137.55 million for the quarter. Golar LNG had a net margin of 30.10% and a return on equity of 6.86%. On average, equities analysts forecast that Golar LNG Limited will post 0.72 EPS for the current year.

Golar LNG Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Wednesday, June 10th. Investors of record on Monday, June 1st were given a dividend of $0.25 per share. The ex-dividend date was Monday, June 1st. This represents a $1.00 dividend on an annualized basis and a yield of 2.0%. Golar LNG’s payout ratio is currently 72.46%.

Institutional Trading of Golar LNG

Several institutional investors have recently added to or reduced their stakes in GLNG. AdvisorNet Financial Inc boosted its holdings in shares of Golar LNG by 108.5% during the 1st quarter. AdvisorNet Financial Inc now owns 515 shares of the shipping company’s stock worth $28,000 after buying an additional 268 shares in the last quarter. Caitong International Asset Management Co. Ltd increased its holdings in Golar LNG by 278.2% in the 3rd quarter. Caitong International Asset Management Co. Ltd now owns 658 shares of the shipping company’s stock worth $27,000 after acquiring an additional 484 shares during the last quarter. Zions Bancorporation National Association UT purchased a new position in shares of Golar LNG in the fourth quarter valued at $44,000. EverSource Wealth Advisors LLC increased its holdings in Golar LNG by 94.0% during the 2nd quarter. EverSource Wealth Advisors LLC now owns 1,356 shares of the shipping company’s stock worth $56,000 after acquiring an additional 657 shares during the period. Finally, Brown Brothers Harriman & Co. bought a new position in shares of Golar LNG in the fourth quarter worth approximately $65,000. 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.