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

Key Points

• Analysts have a “Moderate Buy” consensus on Golar LNG, with four buy ratings, two holds and one strong buy. The average 12-month price target is $63, above the stock’s reported $51.19 opening price.
• Institutional investors hold 92.21% of Golar LNG’s shares, with several firms recently increasing their positions, including Prudential Financial and EverSource Wealth Advisors.
• Golar LNG declared a quarterly dividend of $0.25 per share, equivalent to $1.00 annually and a 2.0% yield; the company operates LNG carriers and floating LNG infrastructure.

Golar LNG Limited (NASDAQ:GLNG - Get Free Report) has been given a consensus rating of "Moderate Buy" by the seven analysts that are currently covering the stock, Marketbeat.com reports. Two research analysts have rated the stock with a hold rating, four have issued a buy rating and one has issued a strong buy rating on the company. The average 1-year price objective among brokerages that have updated their coverage on the stock in the last year is $63.00.

GLNG has been the subject of a number of analyst reports. The Goldman Sachs Group set a $66.00 price objective on shares of Golar LNG and gave the company a "conviction-buy" rating in a research report on Tuesday, July 7th. Weiss Ratings lowered 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 note on Monday. Wall Street Zen downgraded shares of Golar LNG from a "hold" rating to a "sell" rating in a report on Saturday, June 27th. Finally, Deutsche Bank Aktiengesellschaft restated a "buy" rating and set a $65.00 price target on shares of Golar LNG in a research report on Thursday, May 21st.

Hedge Funds Weigh In On Golar LNG

A number of institutional investors have recently added to or reduced their stakes in the business. Amundi grew its holdings in shares of Golar LNG by 29.6% during the first quarter. Amundi now owns 19,586 shares of the shipping company's stock worth $744,000 after purchasing an additional 4,468 shares in the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. raised its stake in Golar LNG by 4.6% in the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 58,915 shares of the shipping company's stock valued at $2,238,000 after purchasing an additional 2,572 shares in the last quarter. Legal & General Group Plc raised its stake in Golar LNG by 2.8% in the second quarter. Legal & General Group Plc now owns 17,100 shares of the shipping company's stock valued at $704,000 after purchasing an additional 459 shares in the last quarter. Prudential Financial Inc. raised its stake in Golar LNG by 68.4% in the second quarter. Prudential Financial Inc. now owns 11,689 shares of the shipping company's stock valued at $481,000 after purchasing an additional 4,746 shares in the last quarter. Finally, EverSource Wealth Advisors LLC lifted its position in 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 currently owned by institutional investors.

Golar LNG Stock Performance

Shares of GLNG opened at $51.19 on Thursday. Golar LNG has a 52-week low of $35.02 and a 52-week high of $57.79. The stock's 50-day simple moving average is $50.34 and its 200 day simple moving average is $50.50. The company has a debt-to-equity ratio of 1.11, a quick ratio of 2.34 and a current ratio of 2.34. The stock has a market capitalization of $5.19 billion, a price-to-earnings ratio of 31.99 and a beta of 0.05.

Golar LNG Dividend Announcement

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

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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.

Continue following MarketBeat

Add MarketBeat as your preferred source on Google to see our latest stories in your feed.

Add As Preferred Source