Golar LNG Limited (NASDAQ:GLNG) Receives $49.70 Average Price Target from Brokerages

Shares of Golar LNG Limited (NASDAQ:GLNG - Get Free Report) have received an average rating of "Buy" from the seven brokerages that are currently covering the firm, MarketBeat Ratings reports. Five analysts have rated the stock with a buy rating and two have issued a strong buy rating on the company. The average 1 year price objective among brokerages that have covered the stock in the last year is $49.70.

Several analysts have recently commented on GLNG shares. Fearnley Fonds upgraded Golar LNG from a "hold" rating to a "strong-buy" rating in a report on Wednesday, March 19th. BTIG Research restated a "buy" rating on shares of Golar LNG in a report on Wednesday, May 28th. Dnb Nor Markets raised shares of Golar LNG from a "hold" rating to a "strong-buy" rating in a report on Tuesday, April 22nd. Wall Street Zen raised shares of Golar LNG to a "sell" rating in a report on Thursday, March 20th. Finally, DNB Markets raised shares of Golar LNG from a "hold" rating to a "buy" rating and set a $48.00 price objective on the stock in a report on Tuesday, April 22nd.

Hedge Funds Weigh In On Golar LNG

Several hedge funds have recently added to or reduced their stakes in the company. Hexagon Capital Partners LLC boosted its stake in shares of Golar LNG by 358.9% in the 1st quarter. Hexagon Capital Partners LLC now owns 647 shares of the shipping company's stock valued at $25,000 after purchasing an additional 506 shares during the last quarter. Quarry LP bought a new position in shares of Golar LNG in the 1st quarter valued at about $26,000. SVB Wealth LLC bought a new position in shares of Golar LNG in the 1st quarter valued at about $31,000. Bank Julius Baer & Co. Ltd Zurich bought a new position in Golar LNG in the fourth quarter valued at approximately $107,000. Finally, Blue Trust Inc. boosted its stake in Golar LNG by 116.8% in the fourth quarter. Blue Trust Inc. now owns 2,975 shares of the shipping company's stock valued at $126,000 after acquiring an additional 1,603 shares during the last quarter. Institutional investors own 92.21% of the company's stock.

Golar LNG Stock Performance

Golar LNG stock traded up $0.14 during trading hours on Tuesday, hitting $41.96. 952,624 shares of the stock were exchanged, compared to its average volume of 1,466,565. The stock has a market capitalization of $4.39 billion, a P/E ratio of 299.74 and a beta of 0.57. Golar LNG has a 12 month low of $26.20 and a 12 month high of $44.36. The business's 50-day moving average is $38.48 and its two-hundred day moving average is $39.39.

Golar LNG (NASDAQ:GLNG - Get Free Report) last released its quarterly earnings results on Tuesday, May 27th. The shipping company reported $0.38 EPS for the quarter, topping analysts' consensus estimates of $0.29 by $0.09. The business had revenue of $63.00 million for the quarter, compared to analyst estimates of $64.90 million. Golar LNG had a return on equity of 9.12% and a net margin of 4.92%. On average, equities analysts predict that Golar LNG will post 1.39 earnings per share for the current fiscal year.

Golar LNG Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Tuesday, June 10th. Investors of record on Tuesday, June 3rd will be issued a $0.25 dividend. This represents a $1.00 annualized dividend and a yield of 2.38%. The ex-dividend date of this dividend is Tuesday, June 3rd. Golar LNG's dividend payout ratio is 3,333.33%.

Golar LNG Company Profile

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.