Golar LNG (NASDAQ:GLNG) Sees Large Volume Increase - Time to Buy?

Golar LNG Limited (NASDAQ:GLNG - Get Free Report) saw unusually-high trading volume on Thursday . Approximately 6,812,164 shares changed hands during mid-day trading, an increase of 313% from the previous session's volume of 1,648,291 shares.The stock last traded at $42.81 and had previously closed at $41.09.

Analysts Set New Price Targets

Several analysts have weighed in on the stock. DNB Markets raised shares of Golar LNG from a "hold" rating to a "buy" rating and set a $48.00 target price on the stock in a research report on Tuesday, April 22nd. Wall Street Zen raised shares of Golar LNG from a "sell" rating to a "hold" rating in a research report on Friday. Fearnley Fonds upgraded shares of Golar LNG from a "hold" rating to a "strong-buy" rating in a research note on Wednesday, March 19th. Dnb Nor Markets upgraded shares of Golar LNG from a "hold" rating to a "strong-buy" rating in a research report on Tuesday, April 22nd. Finally, BTIG Research restated a "buy" rating on shares of Golar LNG in a research report on Wednesday, May 28th. One analyst has rated the stock with a hold rating, five have given a buy rating and two have assigned a strong buy rating to the stock. According to data from MarketBeat, the company has an average rating of "Buy" and a consensus price target of $50.88.

Golar LNG Stock Down 0.6%

The firm has a market cap of $4.33 billion, a PE ratio of 1,381.13 and a beta of 0.57. The business's 50 day moving average price is $40.51 and its 200 day moving average price is $39.57. The company has a debt-to-equity ratio of 0.38, a current ratio of 0.85 and a quick ratio of 0.85.

Golar LNG (NASDAQ:GLNG - Get Free Report) last released its earnings results on Tuesday, May 27th. The shipping company reported $0.38 EPS for the quarter, topping analysts' consensus estimates of $0.29 by $0.09. Golar LNG had a net margin of 1.04% and a return on equity of 6.82%. The business had revenue of $63.00 million during the quarter, compared to analysts' expectations of $64.90 million. On average, equities research analysts expect that Golar LNG Limited will post 1.39 earnings per share for the current year.

Golar LNG Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, June 10th. Investors of record on Tuesday, June 3rd were paid a dividend of $0.25 per share. The ex-dividend date of this dividend was Tuesday, June 3rd. This represents a $1.00 annualized dividend and a yield of 2.41%. Golar LNG's dividend payout ratio is presently 3,333.33%.

Hedge Funds Weigh In On Golar LNG

Several institutional investors and hedge funds have recently bought and sold shares of GLNG. Naria Inc. acquired a new position in Golar LNG in the 4th quarter valued at about $435,226,000. Millennium Management LLC lifted its holdings in Golar LNG by 49.2% during the 4th quarter. Millennium Management LLC now owns 4,638,045 shares of the shipping company's stock worth $196,282,000 after buying an additional 1,529,884 shares in the last quarter. Encompass Capital Advisors LLC acquired a new stake in Golar LNG during the 4th quarter worth approximately $55,413,000. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC acquired a new stake in Golar LNG during the 1st quarter worth approximately $44,682,000. Finally, Nuveen LLC acquired a new stake in Golar LNG during the 1st quarter worth approximately $33,975,000. 92.21% of the stock is currently owned by institutional investors and hedge funds.

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.