Golar LNG (NASDAQ:GLNG) Upgraded by DNB Markets to "Buy" Rating

DNB Markets upgraded shares of Golar LNG (NASDAQ:GLNG - Free Report) from a hold rating to a buy rating in a research report sent to investors on Tuesday, Marketbeat.com reports. DNB Markets currently has $48.00 price target on the shipping company's stock.

Several other equities analysts have also recently weighed in on the stock. Stifel Nicolaus raised their price target on shares of Golar LNG from $53.00 to $55.00 and gave the company a "buy" rating in a research report on Tuesday, December 24th. Fearnley Fonds raised Golar LNG from a "hold" rating to a "strong-buy" rating in a research note on Wednesday, March 19th. Finally, StockNews.com raised Golar LNG to a "sell" rating in a research report on Thursday, March 20th. One equities research analyst has rated the stock with a sell rating, five have given a buy rating and two have issued a strong buy rating to the stock. According to MarketBeat, Golar LNG presently has a consensus rating of "Buy" and an average target price of $49.70.

Golar LNG Stock Up 0.3 %

GLNG stock traded up $0.14 during midday trading on Tuesday, reaching $40.31. 826,657 shares of the company's stock traded hands, compared to its average volume of 1,378,943. Golar LNG has a 52 week low of $24.42 and a 52 week high of $44.36. The company has a market cap of $4.21 billion, a price-to-earnings ratio of 287.95 and a beta of 0.47. The firm's fifty day moving average price is $36.61 and its 200-day moving average price is $38.77.

Golar LNG Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, March 18th. Shareholders of record on Tuesday, March 11th were given a $0.25 dividend. The ex-dividend date of this dividend was Tuesday, March 11th. This represents a $1.00 annualized dividend and a yield of 2.48%. Golar LNG's dividend payout ratio is currently 208.33%.

Institutional Investors Weigh In On Golar LNG

Several large investors have recently made changes to their positions in GLNG. USA Financial Formulas bought a new position in Golar LNG during the fourth quarter valued at about $61,000. Bank Julius Baer & Co. Ltd Zurich bought a new position in shares of Golar LNG during the 4th quarter valued at approximately $107,000. Blue Trust Inc. grew its position in shares of Golar LNG by 116.8% during the 4th 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 period. J.Safra Asset Management Corp purchased a new stake in shares of Golar LNG during the 4th quarter worth approximately $141,000. Finally, Sterling Capital Management LLC raised its holdings in shares of Golar LNG by 906.4% in the 4th quarter. Sterling Capital Management LLC now owns 3,462 shares of the shipping company's stock worth $147,000 after purchasing an additional 3,118 shares during the period. 92.21% of the stock is owned by hedge funds and other 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.