Traders Purchase Large Volume of Call Options on Golar LNG (NASDAQ:GLNG)

Golar LNG Limited (NASDAQ:GLNG - Get Free Report) was the target of some unusual options trading activity on Wednesday. Stock investors acquired 10,782 call options on the stock. This is an increase of approximately 148% compared to the average volume of 4,352 call options.

Wall Street Analysts Forecast Growth

Several equities analysts have weighed in on the stock. Dnb Nor Markets raised shares of Golar LNG from a "hold" rating to a "strong-buy" rating in a report on Tuesday, April 22nd. Wall Street Zen upgraded Golar LNG to a "sell" rating in a research note on Thursday, March 20th. BTIG Research reiterated a "buy" rating on shares of Golar LNG in a research report on Wednesday. DNB Markets raised shares of Golar LNG from a "hold" rating to a "buy" rating and set a $48.00 target price on the stock in a report on Tuesday, April 22nd. Finally, Fearnley Fonds raised shares of Golar LNG from a "hold" rating to a "strong-buy" rating in a report on Wednesday, March 19th. One equities research analyst has rated the stock with a sell rating, five have given a buy rating and two have given a strong buy rating to the company. Based on data from MarketBeat, Golar LNG has a consensus rating of "Buy" and an average target price of $49.70.

Institutional Investors Weigh In On Golar LNG

Several large investors have recently bought and sold shares of the business. Hexagon Capital Partners LLC raised its holdings in Golar LNG by 358.9% during the 1st quarter. Hexagon Capital Partners LLC now owns 647 shares of the shipping company's stock valued at $25,000 after buying an additional 506 shares during the period. Quarry LP purchased a new stake in Golar LNG during the 1st quarter valued at $26,000. SVB Wealth LLC purchased a new stake in Golar LNG during the 1st quarter valued at $31,000. Bank Julius Baer & Co. Ltd Zurich purchased a new stake in Golar LNG during the 4th quarter valued at $107,000. Finally, Blue Trust Inc. raised its holdings in Golar LNG by 116.8% during the 4th quarter. Blue Trust Inc. now owns 2,975 shares of the shipping company's stock valued at $126,000 after buying an additional 1,603 shares during the period. Institutional investors own 92.21% of the company's stock.

Golar LNG Stock Performance

Shares of GLNG traded up $0.32 during mid-day trading on Thursday, hitting $41.83. 1,325,636 shares of the stock were exchanged, compared to its average volume of 1,462,265. The company has a market cap of $4.37 billion, a PE ratio of 298.81 and a beta of 0.62. Golar LNG has a 52-week low of $25.33 and a 52-week high of $44.36. The firm has a 50-day moving average of $38.10 and a two-hundred day moving average of $39.09.

Golar LNG (NASDAQ:GLNG - Get Free Report) last announced its quarterly earnings results on Tuesday, May 27th. The shipping company reported $0.38 earnings per share for the quarter, topping the consensus estimate of $0.29 by $0.09. Golar LNG had a net margin of 4.92% and a return on equity of 9.12%. The company had revenue of $63.00 million for the quarter, compared to analysts' expectations of $64.90 million. On average, sell-side analysts predict that Golar LNG will post 1.39 EPS for the current year.

Golar LNG Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, June 10th. Investors of record on Tuesday, June 3rd will be given a $0.25 dividend. This represents a $1.00 annualized dividend and a yield of 2.39%. The ex-dividend date of this dividend is Tuesday, June 3rd. Golar LNG's dividend payout ratio is presently 208.33%.

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.