Golar LNG (NASDAQ:GLNG) Reaches New 52-Week High - Time to Buy?

Key Points

• Golar LNG's share price hit a new 52-week high at $45.98 during trading, closing at $44.74 with a volume of over 1 million shares exchanged.
• Despite recent stock performance, Golar LNG reported mixed quarterly earnings, with an EPS of $0.26, missing expectations, and revenue of $75.67 million.
• The company declared a quarterly dividend of $0.25, representing an annualized yield of 2.2%, with a surprisingly high dividend payout ratio of -1,428.57%.

Golar LNG Limited (NASDAQ:GLNG - Get Free Report)'s share price hit a new 52-week high during trading on Thursday . The stock traded as high as $45.98 and last traded at $44.74, with a volume of 1073726 shares changing hands. The stock had previously closed at $45.56.

Analysts Set New Price Targets

Several equities analysts have commented on the company. B. Riley reaffirmed a "neutral" rating and issued a $44.50 price objective on shares of Golar LNG in a research report on Monday, August 25th. BTIG Research reaffirmed a "buy" rating on shares of Golar LNG in a research report on Wednesday, May 28th. Wall Street Zen downgraded Golar LNG from a "hold" rating to a "sell" rating in a research report on Saturday. Finally, Zacks Research downgraded Golar LNG from a "hold" rating to a "strong sell" rating in a research report on Thursday, August 14th. Two analysts have rated the stock with a Strong Buy rating, three have given a Buy rating, one has assigned a Hold rating and one has issued a Sell rating to the company. According to data from MarketBeat.com, Golar LNG presently has an average rating of "Moderate Buy" and an average price target of $49.17.

Golar LNG Stock Down 2.3%

The company has a current ratio of 1.47, a quick ratio of 0.85 and a debt-to-equity ratio of 0.63. The business has a 50-day moving average price of $41.43 and a 200-day moving average price of $39.49. The firm has a market cap of $4.58 billion, a P/E ratio of -625.91 and a beta of 0.42.

Golar LNG (NASDAQ:GLNG - Get Free Report) last posted its quarterly earnings results on Thursday, August 14th. The shipping company reported $0.26 earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $0.29 by ($0.03). Golar LNG had a positive return on equity of 6.36% and a negative net margin of 2.83%.The firm had revenue of $75.67 million for the quarter, compared to the consensus estimate of $79.37 million. On average, equities analysts forecast that Golar LNG Limited will post 1.39 EPS for the current fiscal year.

Golar LNG Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, September 2nd. Investors of record on Tuesday, August 26th will be given a dividend of $0.25 per share. The ex-dividend date of this dividend is Tuesday, August 26th. This represents a $1.00 dividend on an annualized basis and a yield of 2.3%. Golar LNG's dividend payout ratio (DPR) is presently -1,428.57%.

Institutional Investors Weigh In On Golar LNG

Institutional investors have recently added to or reduced their stakes in the stock. Quantbot Technologies LP boosted its position in Golar LNG by 577.8% during the first quarter. Quantbot Technologies LP now owns 181,123 shares of the shipping company's stock valued at $6,881,000 after purchasing an additional 154,402 shares in the last quarter. Exchange Traded Concepts LLC boosted its position in 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 purchasing an additional 6,513 shares in the last quarter. Farther Finance Advisors LLC raised its stake in Golar LNG by 8,554.0% in the first quarter. Farther Finance Advisors LLC now owns 8,654 shares of the shipping company's stock valued at $321,000 after buying an additional 8,554 shares during the last quarter. Principal Financial Group Inc. raised its stake in Golar LNG by 20.2% in the first quarter. Principal Financial Group Inc. now owns 6,561 shares of the shipping company's stock valued at $249,000 after buying an additional 1,103 shares during the last quarter. Finally, Russell Investments Group Ltd. raised its stake in Golar LNG by 4.1% in the first quarter. Russell Investments Group Ltd. now owns 61,990 shares of the shipping company's stock valued at $2,355,000 after buying an additional 2,435 shares during the last quarter. Institutional investors own 92.21% of the company's stock.

About Golar LNG

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.