Golar LNG (NASDAQ:GLNG) Sees Strong Trading Volume - Should You Buy?

Key Points

• Golar LNG shares edged higher on Wednesday with trading volume slightly above the prior session, and the stock last traded around $49.89, up about 1.6% on the day.
• Analyst sentiment remains mostly positive, with several firms issuing buy or strong-buy-style ratings and a consensus target price of $58.70, though one recent note cut the stock to sell.
• The company reported solid recent fundamentals, including Q1 EPS of $0.82, quarterly revenue of $137.55 million, and a 2.0% annualized dividend yield backed by a 72.46% payout ratio.

Shares of Golar LNG Limited (NASDAQ:GLNG - Get Free Report) saw an uptick in trading volume on Wednesday . 1,628,690 shares traded hands during mid-day trading, an increase of 1% from the previous session's volume of 1,617,608 shares.The stock last traded at $49.8870 and had previously closed at $49.76.

Analysts Set New Price Targets

GLNG has been the subject of several recent analyst reports. Deutsche Bank Aktiengesellschaft reissued a "buy" rating and issued a $65.00 price target on shares of Golar LNG in a research note on Thursday, May 21st. Wall Street Zen cut shares of Golar LNG from a "hold" rating to a "sell" rating in a research note on Saturday, June 27th. The Goldman Sachs Group set a $66.00 price target on shares of Golar LNG and gave the stock a "conviction-buy" rating in a research note on Tuesday, July 7th. BTIG Research reiterated a "buy" rating and set a $67.00 price objective on shares of Golar LNG in a research note on Wednesday, May 20th. Finally, Weiss Ratings raised Golar LNG from a "hold (c+)" rating to a "buy (b-)" rating in a report on Tuesday, June 23rd. One analyst has rated the stock with a Strong Buy rating, four have given a Buy rating and three have assigned a Hold rating to the stock. According to data from MarketBeat.com, Golar LNG presently has a consensus rating of "Moderate Buy" and a consensus target price of $58.70.

Golar LNG Stock Up 1.6%

The company has a current ratio of 2.57, a quick ratio of 2.57 and a debt-to-equity ratio of 1.14. The firm has a market capitalization of $5.12 billion, a price-to-earnings ratio of 36.58 and a beta of 0.02. The stock has a fifty day moving average of $51.23 and a 200-day moving average of $48.51.

Golar LNG (NASDAQ:GLNG - Get Free Report) last posted its quarterly earnings data on Thursday, March 26th. The shipping company reported $0.82 earnings per share (EPS) for the quarter. The firm had revenue of $137.55 million for the quarter. Golar LNG had a return on equity of 6.86% and a net margin of 30.10%. As a group, sell-side analysts expect that Golar LNG Limited will post 0.72 EPS for the current year.

Golar LNG Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Wednesday, June 10th. Shareholders of record on Monday, June 1st were given a dividend of $0.25 per share. The ex-dividend date was Monday, June 1st. This represents a $1.00 dividend on an annualized basis and a yield of 2.0%. Golar LNG's dividend payout ratio (DPR) is presently 72.46%.

Institutional Trading of Golar LNG

Several hedge funds and other institutional investors have recently modified their holdings of GLNG. Levin Capital Strategies L.P. grew its position in Golar LNG by 16.3% in the 4th quarter. Levin Capital Strategies L.P. now owns 519,088 shares of the shipping company's stock worth $19,315,000 after purchasing an additional 72,761 shares during the last quarter. SG Americas Securities LLC boosted its holdings in Golar LNG by 289.3% in the fourth quarter. SG Americas Securities LLC now owns 31,142 shares of the shipping company's stock valued at $1,159,000 after acquiring an additional 23,143 shares during the last quarter. Tejara Capital Ltd grew its holdings in Golar LNG by 87.8% during the 4th quarter. Tejara Capital Ltd now owns 369,026 shares of the shipping company's stock worth $13,731,000 after acquiring an additional 172,500 shares during the period. First Eagle Investment Management LLC grew its position in shares of Golar LNG by 3.8% during the 4th quarter. First Eagle Investment Management LLC now owns 293,472 shares of the shipping company's stock worth $10,920,000 after buying an additional 10,700 shares during the period. Finally, Two Seas Capital LP grew its holdings in Golar LNG by 6.8% during the fourth quarter. Two Seas Capital LP now owns 1,170,998 shares of the shipping company's stock valued at $43,573,000 after purchasing an additional 75,000 shares during the period. 92.21% of the stock is currently owned by hedge funds and other institutional investors.

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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