Golar LNG Limited (NASDAQ:GLNG) Stock Has Consensus Target Price of $68.67 According to Analysts

Key Points

• Analysts maintain a bullish outlook on Golar LNG: Six firms give the stock a consensus “Buy” rating, with an average 12-month price target of $68.67 versus its reported opening price of $44.95.
• Recent research was mixed but generally favorable: Pareto Securities and Weiss Ratings upgraded the stock, while BTIG Research raised its price target to $75 and Goldman Sachs issued a $66 “conviction-buy” target.
• Golar LNG pays a quarterly dividend of $0.25, equal to a $1.00 annualized payout and a 2.2% yield. Institutional investors own a substantial 92.21% of the company’s shares.

Shares of Golar LNG Limited (NASDAQ:GLNG - Get Free Report) have been assigned an average rating of "Buy" from the six ratings firms that are covering the stock, Marketbeat Ratings reports. One equities research analyst has 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 twelve-month price objective among brokerages that have updated their coverage on the stock in the last year is $68.67.

GLNG has been the subject of a number of recent research reports. Pareto Securities raised Golar LNG from a "hold" rating to a "buy" rating in a report on Monday, August 24th. Weiss Ratings raised Golar LNG from a "hold (c+)" rating to a "buy (b-)" rating in a research note on Thursday, October 8th. Wall Street Zen cut Golar LNG from a "hold" rating to a "sell" rating in a research report on Saturday, June 27th. BTIG Research increased their price objective on Golar LNG from $70.00 to $75.00 and gave the stock a "buy" rating in a research note on Thursday, September 24th. Finally, The Goldman Sachs Group set a $66.00 price objective on Golar LNG and gave the stock a "conviction-buy" rating in a research note on Tuesday, July 7th.

Golar LNG Stock Down 2.3%

Shares of GLNG opened at $44.95 on Friday. The stock has a market cap of $4.55 billion, a price-to-earnings ratio of 28.09 and a beta of 0.13. The company has a quick ratio of 2.34, a current ratio of 2.34 and a debt-to-equity ratio of 1.11. Golar LNG has a 12 month low of $35.02 and a 12 month high of $57.79. The company has a 50-day moving average price of $50.54 and a two-hundred day moving average price of $51.43.

Golar LNG Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Wednesday, September 2nd. Stockholders of record on Monday, August 24th were issued a $0.25 dividend. The ex-dividend date of this dividend was Monday, August 24th. This represents a $1.00 annualized dividend and a dividend yield of 2.2%. Golar LNG's dividend payout ratio is presently 62.50%.

Institutional Investors Weigh In On Golar LNG

A number of hedge funds have recently made changes to their positions in GLNG. Krilogy Financial LLC grew its stake in Golar LNG by 20.3% during the third quarter. Krilogy Financial LLC now owns 5,091 shares of the shipping company's stock worth $246,000 after buying an additional 860 shares during the last quarter. GAMMA Investing LLC increased its holdings in Golar LNG by 38.7% during the 3rd quarter. GAMMA Investing LLC now owns 1,078 shares of the shipping company's stock valued at $51,000 after purchasing an additional 301 shares in the last quarter. Engineers Gate Manager LP bought a new position in Golar LNG in the 2nd quarter valued at $1,185,000. NewEdge Advisors LLC raised its position in Golar LNG by 43.4% in the 2nd quarter. NewEdge Advisors LLC now owns 13,375 shares of the shipping company's stock valued at $667,000 after purchasing an additional 4,050 shares during the last quarter. Finally, Waverly Advisors LLC raised its position in Golar LNG by 27.5% in the 2nd quarter. Waverly Advisors LLC now owns 5,797 shares of the shipping company's stock valued at $289,000 after purchasing an additional 1,250 shares during the last quarter. Institutional investors and hedge funds own 92.21% of the company's stock.

Golar LNG Company Profile

Golar LNG Limited is a Bermuda-based energy infrastructure company focused on the development, ownership and operation of floating liquefied natural gas (FLNG) facilities. The company converts LNG carriers into floating production units that liquefy natural gas offshore, allowing gas resources to be developed without the need for large onshore liquefaction plants.

Golar's activities include FLNG project development, vessel ownership and operations, and related LNG infrastructure services.

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