Brokerages Set Golar LNG Limited (NASDAQ:GLNG) Target Price at $50.88

Golar LNG Limited (NASDAQ:GLNG - Get Free Report) has received an average rating of "Buy" from the seven brokerages that are presently covering the stock, MarketBeat.com reports. Five investment analysts have rated the stock with a buy rating and two have issued a strong buy rating on the company. The average 12-month price target among analysts that have issued a report on the stock in the last year is $50.88.

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

Golar LNG Stock Performance

GLNG stock traded down $1.07 during midday trading on Friday, reaching $40.12. 2,630,096 shares of the company's stock traded hands, compared to its average volume of 1,480,530. The company has a current ratio of 0.85, a quick ratio of 0.85 and a debt-to-equity ratio of 0.38. Golar LNG has a 52-week low of $29.29 and a 52-week high of $44.36. The stock has a market cap of $4.19 billion, a P/E ratio of 1,337.78 and a beta of 0.56. The stock's 50-day moving average is $40.61 and its 200 day moving average is $39.53.

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

Golar LNG Dividend Announcement

The business also recently announced 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. This represents a $1.00 dividend on an annualized basis and a dividend yield of 2.49%. The ex-dividend date was Tuesday, June 3rd. Golar LNG's dividend payout ratio is currently 3,333.33%.

Institutional Inflows and Outflows

Hedge funds have recently made changes to their positions in the stock. Dynamic Technology Lab Private Ltd purchased a new stake in Golar LNG in the 4th quarter valued at about $465,000. Exchange Traded Concepts LLC raised its stake in shares of Golar LNG by 256.7% during the first quarter. Exchange Traded Concepts LLC now owns 9,050 shares of the shipping company's stock valued at $344,000 after acquiring an additional 6,513 shares in the last quarter. Raymond James Financial Inc. purchased a new stake in shares of Golar LNG in the fourth quarter valued at approximately $310,000. Wells Fargo & Company MN grew its stake in Golar LNG by 7.8% in the fourth quarter. Wells Fargo & Company MN now owns 120,200 shares of the shipping company's stock worth $5,087,000 after purchasing an additional 8,654 shares in the last quarter. Finally, JPMorgan Chase & Co. grew its stake in Golar LNG by 60.2% in the fourth quarter. JPMorgan Chase & Co. now owns 350,858 shares of the shipping company's stock worth $14,848,000 after purchasing an additional 131,887 shares in the last quarter. 92.21% of the stock is currently owned by institutional investors.

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.