Golar LNG Limited (NASDAQ:GLNG) Receives Consensus Recommendation of "Buy" from Brokerages

Golar LNG Limited (NASDAQ:GLNG - Get Free Report) has been assigned an average recommendation of "Buy" from the seven research firms that are presently covering the firm, Marketbeat.com reports. Five analysts have rated the stock with a buy recommendation and two have given a strong buy recommendation to the company. The average 1-year price objective among brokerages that have updated their coverage on the stock in the last year is $50.88.

A number of research analysts recently issued reports on the stock. Fearnley Fonds upgraded shares of Golar LNG from a "hold" rating to a "strong-buy" rating in a research note on Wednesday, March 19th. Wall Street Zen upgraded shares of Golar LNG from a "sell" rating to a "hold" rating in a research report on Friday. BTIG Research restated a "buy" rating on shares of Golar LNG in a research report on Wednesday, May 28th. DNB Markets upgraded shares of Golar LNG from a "hold" rating to a "buy" rating and set a $48.00 price objective for the company in a research report on Tuesday, April 22nd. Finally, Dnb Nor Markets upgraded shares of Golar LNG from a "hold" rating to a "strong-buy" rating in a research report on Tuesday, April 22nd.

Golar LNG Stock Down 0.6%

Shares of Golar LNG stock opened at $41.42 on Friday. Golar LNG has a 52-week low of $29.29 and a 52-week high of $44.36. The company has a 50 day moving average of $40.44 and a 200 day moving average of $39.61. The company has a quick ratio of 0.85, a current ratio of 0.85 and a debt-to-equity ratio of 0.38. The company has a market capitalization of $4.33 billion, a P/E ratio of 1,381.13 and a beta of 0.57.

Golar LNG (NASDAQ:GLNG - Get Free Report) last issued its quarterly earnings results on Tuesday, May 27th. The shipping company reported $0.38 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $0.29 by $0.09. Golar LNG had a net margin of 1.04% and a return on equity of 6.82%. The company had revenue of $63.00 million during the quarter, compared to the consensus estimate of $64.90 million. As a group, research analysts forecast that Golar LNG will post 1.39 EPS for the current fiscal year.

Golar LNG Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, June 10th. Stockholders of record on Tuesday, June 3rd were paid a dividend of $0.25 per share. The ex-dividend date of this dividend was Tuesday, June 3rd. This represents a $1.00 dividend on an annualized basis and a dividend yield of 2.41%. Golar LNG's dividend payout ratio is currently 3,333.33%.

Institutional Trading of Golar LNG

A number of hedge funds have recently made changes to their positions in the company. Naria Inc. acquired a new position in Golar LNG in the fourth quarter worth $435,226,000. Millennium Management LLC boosted its holdings in Golar LNG by 49.2% in the fourth 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. Encompass Capital Advisors LLC acquired a new position in Golar LNG in the fourth quarter worth $55,413,000. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC acquired a new position in Golar LNG in the first quarter worth $44,682,000. Finally, Nuveen LLC acquired a new position in Golar LNG in the first quarter worth $33,975,000. Hedge funds and other institutional investors own 92.21% of the company's stock.

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.

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