Golar LNG (NASDAQ:GLNG) Shares Cross Above Two Hundred Day Moving Average - Time to Sell?

Key Points

• Golar LNG shares moved above their 200-day moving average, reaching $52.39 and last trading at $52.04, up 1.2%. The stock’s 50-day and 200-day averages are approximately $50.30 and $50.43, respectively.
• Analyst sentiment remains generally positive but mixed: MarketBeat reports a “Moderate Buy” consensus and an average price target of $63, with recent targets as high as $70 and one downgrade to “Sell.”
• Golar LNG declared a quarterly dividend of $0.25 per share, equivalent to $1.00 annually and a 1.9% yield. Institutional investors own 92.21% of the company, while several major holders recently increased their positions.

Golar LNG Limited (NASDAQ:GLNG - Get Free Report) shares passed above its two hundred day moving average during trading on Tuesday . The stock has a two hundred day moving average of $50.43 and traded as high as $52.39. Golar LNG shares last traded at $52.04, with a volume of 987,567 shares changing hands.

Wall Street Analyst Weigh In

A number of equities analysts recently commented on GLNG shares. Pareto Securities upgraded shares of Golar LNG from a "hold" rating to a "buy" rating in a research note on Monday. Weiss Ratings cut Golar LNG from a "buy (b-)" rating to a "hold (c+)" rating in a research note on Friday. BTIG Research lifted their price target on Golar LNG from $67.00 to $70.00 and gave the stock a "buy" rating in a report on Friday, August 14th. Deutsche Bank Aktiengesellschaft reiterated a "buy" rating and issued a $65.00 price objective on shares of Golar LNG in a report on Thursday, May 21st. Finally, Wall Street Zen lowered Golar LNG from a "hold" rating to a "sell" rating in a research report on Saturday, June 27th. One investment analyst has rated the stock with a Strong Buy rating, four have issued a Buy rating and two have issued a Hold rating to the stock. According to MarketBeat, Golar LNG presently has an average rating of "Moderate Buy" and an average target price of $63.00.

Golar LNG Trading Up 1.2%

The company has a quick ratio of 2.34, a current ratio of 2.34 and a debt-to-equity ratio of 1.11. The stock has a market capitalization of $5.27 billion, a PE ratio of 32.52 and a beta of 0.05. The business's 50-day moving average is $50.30 and its two-hundred day moving average is $50.43.

Golar LNG Dividend Announcement

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

Institutional Inflows and Outflows

Several institutional investors have recently added to or reduced their stakes in the company. Amundi boosted its holdings in shares of Golar LNG by 29.6% in the first quarter. Amundi now owns 19,586 shares of the shipping company's stock valued at $744,000 after acquiring an additional 4,468 shares during the period. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. increased its holdings in shares of Golar LNG by 4.6% in the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 58,915 shares of the shipping company's stock valued at $2,238,000 after acquiring an additional 2,572 shares during the period. Legal & General Group Plc raised its position in Golar LNG by 2.8% in the 2nd quarter. Legal & General Group Plc now owns 17,100 shares of the shipping company's stock valued at $704,000 after purchasing an additional 459 shares during the last quarter. Prudential Financial Inc. boosted its stake in Golar LNG by 68.4% during the 2nd quarter. Prudential Financial Inc. now owns 11,689 shares of the shipping company's stock worth $481,000 after purchasing an additional 4,746 shares during the period. Finally, EverSource Wealth Advisors LLC boosted its stake in Golar LNG by 94.0% during the 2nd quarter. EverSource Wealth Advisors LLC now owns 1,356 shares of the shipping company's stock worth $56,000 after purchasing an additional 657 shares during the period. 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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