Golar LNG (NASDAQ:GLNG) Trading 4.7% Higher After Better-Than-Expected Earnings

Golar LNG Limited (NASDAQ:GLNG - Get Free Report) shares rose 4.7% during mid-day trading on Wednesday following a stronger than expected earnings report. The company traded as high as $40.84 and last traded at $40.96. Approximately 352,272 shares were traded during trading, a decline of 76% from the average daily volume of 1,456,558 shares. The stock had previously closed at $39.11.

The shipping company reported $0.38 earnings per share for the quarter, topping the consensus estimate of $0.29 by $0.09. The firm had revenue of $63.00 million for the quarter, compared to analyst estimates of $64.90 million. Golar LNG had a net margin of 4.92% and a return on equity of 9.12%.

Golar LNG Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, June 10th. Investors of record on Tuesday, June 3rd will be paid a dividend of $0.25 per share. The ex-dividend date is Tuesday, June 3rd. This represents a $1.00 annualized dividend and a yield of 2.41%. Golar LNG's dividend payout ratio (DPR) is 208.33%.

Wall Street Analyst Weigh In

GLNG has been the topic of several analyst reports. Wall Street Zen upgraded shares of Golar LNG to a "sell" rating in a research note on Thursday, March 20th. BTIG Research restated a "buy" rating on shares of Golar LNG in a research note on Wednesday. DNB Markets upgraded shares of Golar LNG from a "hold" rating to a "buy" rating and set a $48.00 price target on the stock in a research note on Tuesday, April 22nd. Dnb Nor Markets upgraded shares of Golar LNG from a "hold" rating to a "strong-buy" rating in a research note on Tuesday, April 22nd. Finally, Fearnley Fonds upgraded shares of Golar LNG from a "hold" rating to a "strong-buy" rating in a research note on Wednesday, March 19th. One research analyst has rated the stock with a sell rating, five have assigned a buy rating and two have given a strong buy rating to the stock. According to MarketBeat.com, the stock presently has an average rating of "Buy" and an average price target of $49.70.

Institutional Inflows and Outflows

A number of hedge funds have recently made changes to their positions in the stock. Naria Inc. acquired a new position in shares of Golar LNG during the fourth quarter valued at approximately $435,226,000. Millennium Management LLC increased its stake in shares of Golar LNG by 49.2% during the fourth quarter. Millennium Management LLC now owns 4,638,045 shares of the shipping company's stock valued at $196,282,000 after acquiring an additional 1,529,884 shares during the period. Encompass Capital Advisors LLC increased its stake in shares of Golar LNG by 73.8% during the first quarter. Encompass Capital Advisors LLC now owns 2,276,083 shares of the shipping company's stock valued at $86,468,000 after acquiring an additional 966,692 shares during the period. Appian Way Asset Management LP increased its stake in shares of Golar LNG by 6.2% during the first quarter. Appian Way Asset Management LP now owns 1,524,621 shares of the shipping company's stock valued at $57,920,000 after acquiring an additional 89,199 shares during the period. Finally, UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC acquired a new position in Golar LNG in the first quarter worth approximately $44,682,000. Institutional investors and hedge funds own 92.21% of the company's stock.

Golar LNG Stock Down 0.9%

The stock has a market cap of $4.33 billion, a price-to-earnings ratio of 296.02 and a beta of 0.62. The company's 50-day simple moving average is $38.12 and its 200-day simple moving average is $39.12.

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.