Golar LNG (NASDAQ:GLNG) Reaches New 52-Week High - Still a Buy?

Key Points

• Golar LNG hit a new 52-week high of $57.06 in mid-day trading and last traded around $56.83 on volume of about 491,398 shares.
• Analyst views are mixed but the consensus is a Moderate Buy with an average price target of $51.13; recent notes include BTIG raising its target to $53 (Buy) while Wall Street Zen cut the stock to Sell.
• Key fundamentals: $5.79 billion market cap, PE of 89.27, debt-to-equity of 1.19, and a $1.00 annual dividend (1.7% yield) with a payout ratio of 156%.

Golar LNG Limited (NASDAQ:GLNG - Get Free Report)'s stock price reached a new 52-week high during mid-day trading on Tuesday . The stock traded as high as $57.06 and last traded at $56.8260, with a volume of 491398 shares. The stock had previously closed at $56.40.

Analyst Ratings Changes

GLNG has been the subject of several recent analyst reports. Wall Street Zen cut shares of Golar LNG from a "hold" rating to a "sell" rating in a research note on Saturday, April 25th. BTIG Research lifted their price target on shares of Golar LNG from $50.00 to $53.00 and gave the company a "buy" rating in a research report on Wednesday, February 25th. The Goldman Sachs Group set a $56.00 price target on Golar LNG in a report on Monday, February 2nd. Finally, Zacks Research raised Golar LNG from a "strong sell" rating to a "hold" rating in a research note on Monday, January 5th. One analyst has rated the stock with a Strong Buy rating, two have assigned a Buy rating and three have given a Hold rating to the company. According to data from MarketBeat, the stock has an average rating of "Moderate Buy" and an average price target of $51.13.

Golar LNG Price Performance

The company has a debt-to-equity ratio of 1.19, a quick ratio of 2.55 and a current ratio of 2.55. The stock has a market capitalization of $5.79 billion, a PE ratio of 89.27 and a beta of 0.06. The company's fifty day simple moving average is $50.45 and its two-hundred day simple moving average is $43.11.

Golar LNG (NASDAQ:GLNG - Get Free Report) last released its quarterly earnings results on Saturday, February 14th. The shipping company reported $0.09 EPS for the quarter. Golar LNG had a net margin of 16.69% and a return on equity of 6.24%. The business had revenue of $132.81 million for the quarter. As a group, sell-side analysts predict that Golar LNG Limited will post 0.58 EPS for the current year.

Golar LNG Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Wednesday, March 18th. Shareholders of record on Monday, March 9th were paid a $0.25 dividend. This represents a $1.00 annualized dividend and a yield of 1.7%. The ex-dividend date of this dividend was Monday, March 9th. Golar LNG's payout ratio is presently 156.25%.

Institutional Investors Weigh In On Golar LNG

Hedge funds have recently made changes to their positions in the business. Tejara Capital Ltd grew its holdings in Golar LNG by 44.0% in the third quarter. Tejara Capital Ltd now owns 196,526 shares of the shipping company's stock valued at $7,942,000 after purchasing an additional 60,093 shares during the period. Huber Capital Management LLC lifted its position 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 worth $37,327,000 after purchasing an additional 102,200 shares in the last quarter. King Luther Capital Management Corp purchased a new position in shares of Golar LNG in the third quarter valued at $1,179,000. Cinctive Capital Management LP purchased a new position in shares of Golar LNG in the third quarter valued at $4,658,000. Finally, Danske Bank A S purchased a new stake in Golar LNG during the 3rd quarter worth $56,574,000. Institutional investors and hedge funds 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.

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