Golar LNG (NASDAQ:GLNG) Stock Passes Above 200 Day Moving Average - Here's Why

Key Points

• Golar LNG shares passed above their 200-day moving average, trading as high as $54.27 and last at $53.29, indicating positive technical momentum.
• Analysts are generally bullish: the stock carries a consensus rating of Moderate Buy with a consensus target of $50.50, and firms like Goldman Sachs and BTIG have set $56 and $53 targets, respectively.
• Fundamentals show a $5.40 billion market cap and a high valuation (P/E 83.27); the company pays a $1.00 annual dividend (1.9% yield) but has an elevated 156.25% payout ratio, which may raise sustainability concerns.

Golar LNG Limited (NASDAQ:GLNG - Get Free Report) shares passed above its 200-day moving average during trading on Thursday . The stock has a 200-day moving average of $42.11 and traded as high as $54.27. Golar LNG shares last traded at $53.29, with a volume of 841,942 shares.

Analysts Set New Price Targets

A number of equities research analysts have recently weighed in on GLNG shares. The Goldman Sachs Group set a $56.00 price target on Golar LNG in a research note on Monday, February 2nd. Wall Street Zen raised Golar LNG from a "sell" rating to a "hold" rating in a research report on Saturday, March 28th. Zacks Research raised Golar LNG from a "strong sell" rating to a "hold" rating in a research note on Monday, January 5th. Weiss Ratings reaffirmed a "hold (c+)" rating on shares of Golar LNG in a research note on Monday, December 29th. Finally, BTIG Research boosted their price objective on Golar LNG from $50.00 to $53.00 and gave the stock a "buy" rating in a research note on Wednesday, February 25th. Two equities research analysts have rated the stock with a Strong Buy rating, three have assigned a Buy rating and three have assigned a Hold rating to the company. According to MarketBeat, the stock presently has an average rating of "Moderate Buy" and a consensus target price of $50.50.

Golar LNG Stock Down 1.0%

The company has a debt-to-equity ratio of 1.19, a current ratio of 2.55 and a quick ratio of 2.55. The company has a market capitalization of $5.40 billion, a price-to-earnings ratio of 83.27 and a beta of 0.11. The firm has a 50-day moving average price of $48.61 and a two-hundred day moving average price of $42.11.

Golar LNG (NASDAQ:GLNG - Get Free Report) last issued its quarterly earnings results on Saturday, February 14th. The shipping company reported $0.09 EPS for the quarter. Golar LNG had a return on equity of 6.24% and a net margin of 16.69%.The firm had revenue of $132.81 million during the quarter. As a group, sell-side analysts anticipate that Golar LNG Limited will post 1.39 earnings per share for the current fiscal year.

Golar LNG Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Wednesday, March 18th. Stockholders of record on Monday, March 9th were paid a dividend of $0.25 per share. The ex-dividend date was Monday, March 9th. This represents a $1.00 dividend on an annualized basis and a dividend yield of 1.9%. Golar LNG's dividend payout ratio (DPR) is 156.25%.

Hedge Funds Weigh In On Golar LNG

Large investors have recently made changes to their positions in the company. Caitong International Asset Management Co. Ltd increased its stake in shares of Golar LNG by 278.2% in the 3rd quarter. Caitong International Asset Management Co. Ltd now owns 658 shares of the shipping company's stock valued at $27,000 after purchasing an additional 484 shares during the last quarter. Smartleaf Asset Management LLC lifted its holdings in Golar LNG by 281.9% during the 3rd quarter. Smartleaf Asset Management LLC now owns 909 shares of the shipping company's stock worth $37,000 after buying an additional 671 shares during the period. Zions Bancorporation National Association UT bought a new position in shares of Golar LNG in the 4th quarter worth about $44,000. EverSource Wealth Advisors LLC increased its position in Golar LNG by 94.0% in the 2nd quarter. EverSource Wealth Advisors LLC now owns 1,356 shares of the shipping company's stock valued at $56,000 after buying an additional 657 shares in the last quarter. Finally, Brown Brothers Harriman & Co. bought a new stake in Golar LNG during the 4th quarter worth approximately $65,000. Institutional investors 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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.