Golar LNG (NASDAQ:GLNG) Reaches New 1-Year High - Here's Why

Key Points

• Golar LNG shares hit a new 52-week high of $56.21 (last $55.62) on heavy volume (~1.19M shares) during mid-day trading.
• Analysts maintain a consensus Moderate Buy with an average target of $50.50, even as firms like BTIG and Goldman Sachs issued upgrades and the stock trades above that consensus target.
• The company pays a quarterly $0.25 dividend (1.8% yield), but its dividend payout ratio is 156.25%, which raises questions about the sustainability of the distribution.

Shares of Golar LNG Limited (NASDAQ:GLNG - Get Free Report) hit a new 52-week high during mid-day trading on Thursday . The stock traded as high as $56.21 and last traded at $55.6170, with a volume of 1190692 shares changing hands. The stock had previously closed at $53.65.

Wall Street Analyst Weigh In

A number of analysts have weighed in on GLNG shares. BTIG Research increased their price objective on Golar LNG from $50.00 to $53.00 and gave the stock a "buy" rating in a research report on Wednesday, February 25th. Zacks Research upgraded Golar LNG from a "strong sell" rating to a "hold" rating in a research note on Monday, January 5th. The Goldman Sachs Group set a $56.00 price target on Golar LNG in a report on Monday, February 2nd. Weiss Ratings reiterated a "hold (c+)" rating on shares of Golar LNG in a research report on Monday, December 29th. Finally, Wall Street Zen raised shares of Golar LNG from a "sell" rating to a "hold" rating in a research note on Saturday, March 28th. Two research analysts have rated the stock with a Strong Buy rating, three have assigned a Buy rating and three have given a Hold rating to the company's stock. According to MarketBeat, Golar LNG has a consensus rating of "Moderate Buy" and an average target price of $50.50.

Golar LNG Stock Performance

The stock's 50-day moving average is $45.64 and its 200 day moving average is $41.05. The stock has a market cap of $5.62 billion, a price-to-earnings ratio of 87.14 and a beta of 0.11. The company has a debt-to-equity ratio of 1.19, a current ratio of 2.55 and a quick ratio of 2.55.

Golar LNG (NASDAQ:GLNG - Get Free Report) last released its quarterly earnings data on Saturday, February 14th. The shipping company reported $0.09 earnings per share (EPS) for the quarter. Golar LNG had a return on equity of 6.24% and a net margin of 16.69%.The firm had revenue of $132.81 million during the quarter. As a group, analysts predict that Golar LNG Limited will post 1.39 earnings per share for the current fiscal year.

Golar LNG Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Wednesday, March 18th. Investors of record on Monday, March 9th were paid a $0.25 dividend. The ex-dividend date was Monday, March 9th. This represents a $1.00 annualized dividend and a dividend yield of 1.8%. Golar LNG's dividend payout ratio (DPR) is 156.25%.

Institutional Investors Weigh In On Golar LNG

Institutional investors have recently modified their holdings of the company. Tejara Capital Ltd increased its position in Golar LNG by 44.0% during the third quarter. Tejara Capital Ltd now owns 196,526 shares of the shipping company's stock worth $7,942,000 after buying an additional 60,093 shares in the last quarter. Permanent Capital Management LP purchased a new stake in shares of Golar LNG in the third quarter valued at $2,114,000. Huber Capital Management LLC boosted its stake in shares of Golar LNG by 12.4% during the third quarter. Huber Capital Management LLC now owns 923,718 shares of the shipping company's stock valued at $37,327,000 after acquiring an additional 102,200 shares during the last quarter. King Luther Capital Management Corp purchased a new stake in shares of Golar LNG during the third quarter worth about $1,179,000. Finally, ARS Investment Partners LLC raised its position in shares of Golar LNG by 14.7% in the third quarter. ARS Investment Partners LLC now owns 296,059 shares of the shipping company's stock valued at $11,964,000 after buying an additional 38,040 shares during the last quarter. Hedge funds and other institutional investors own 92.21% of the company's stock.

About Golar LNG

Golar LNG Ltd. is a leading owner and operator of liquefied natural gas (LNG) carriers and floating infrastructure. The company specializes in the transportation of LNG on long-term and spot charters for major energy firms around the world. In addition to shipping, Golar LNG has broadened its services to include project development and the conversion of existing carriers into Floating Liquefied Natural Gas (FLNG) and Floating Storage and Regasification Unit (FSRU) vessels.

Since pioneering the first purpose-built FLNG conversion project, Golar LNG has been at the forefront of offshore gas monetization.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.