Golar LNG (NASDAQ:GLNG) Share Price Crosses Above 200-Day Moving Average - Should You Sell?

Key Points

• Golar LNG shares crossed above their 200-day moving average, reaching $52.04 and last trading at $51.94, compared with a 200-day average of $51.07.
• Analyst sentiment remains broadly positive, with a consensus “Moderate Buy” rating and a $63.00 average price target, although some firms have downgraded the stock to hold or sell.
• Golar LNG pays a quarterly dividend of $0.25 per share, equivalent to a 1.9% yield; institutional investors own 92.21% of the company’s outstanding stock.

Golar LNG Limited (NASDAQ:GLNG - Get Free Report) passed above its 200-day moving average during trading on Wednesday . The stock has a 200-day moving average of $51.07 and traded as high as $52.04. Golar LNG shares last traded at $51.94, with a volume of 847,530 shares changing hands.

Wall Street Analysts Forecast Growth

A number of analysts have commented on GLNG shares. Deutsche Bank Aktiengesellschaft reaffirmed a "buy" rating and set a $65.00 price target on shares of Golar LNG in a research report on Thursday, May 21st. Wall Street Zen lowered Golar LNG from a "hold" rating to a "sell" rating in a report on Saturday, June 27th. Weiss Ratings cut Golar LNG from a "buy (b-)" rating to a "hold (c+)" rating in a research note on Friday, August 21st. Pareto Securities raised Golar LNG from a "hold" rating to a "buy" rating in a report on Monday, August 24th. Finally, The Goldman Sachs Group set a $66.00 target price on Golar LNG and gave the company a "conviction-buy" rating in a research report on Tuesday, July 7th. One investment analyst has rated the stock with a Strong Buy rating, four have issued a Buy rating and two have assigned a Hold rating to the company. Based on data from MarketBeat.com, Golar LNG currently has an average rating of "Moderate Buy" and a consensus price target of $63.00.

Golar LNG Stock Up 0.9%

The company has a debt-to-equity ratio of 1.11, a quick ratio of 2.34 and a current ratio of 2.34. The firm has a market cap of $5.26 billion, a price-to-earnings ratio of 32.46 and a beta of 0.05. The business's 50 day moving average price is $50.71 and its 200 day moving average price is $51.07.

Golar LNG Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Wednesday, September 2nd. Investors of record on Monday, August 24th were given a dividend of $0.25 per share. This represents a $1.00 annualized dividend and a yield of 1.9%. The ex-dividend date was Monday, August 24th. Golar LNG's dividend payout ratio (DPR) is currently 62.50%.

Institutional Inflows and Outflows

A number of large investors have recently modified their holdings of the company. Caitong International Asset Management Co. Ltd grew its position in shares of Golar LNG by 278.2% during the 3rd quarter. Caitong International Asset Management Co. Ltd now owns 658 shares of the shipping company's stock valued at $27,000 after acquiring an additional 484 shares during the period. AdvisorNet Financial Inc grew its position in shares of Golar LNG by 108.5% in the first quarter. AdvisorNet Financial Inc now owns 515 shares of the shipping company's stock valued at $28,000 after purchasing an additional 268 shares in the last quarter. Public Employees Retirement System of Ohio acquired a new stake in shares of Golar LNG in the second quarter valued at approximately $33,000. Zions Bancorporation National Association UT purchased a new position in Golar LNG during the fourth quarter worth approximately $44,000. Finally, EverSource Wealth Advisors LLC lifted its position in Golar LNG by 94.0% during the second quarter. EverSource Wealth Advisors LLC now owns 1,356 shares of the shipping company's stock worth $56,000 after buying an additional 657 shares in the last quarter. Institutional investors and hedge funds own 92.21% of the company's stock.

Golar LNG Company Profile

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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