Golar LNG (NASDAQ:GLNG) Price Target Raised to $44.50

Golar LNG (NASDAQ:GLNG) had its price target raised by B. Riley from $35.50 to $44.50 in a research note published on Friday, Benzinga reports. B. Riley currently has a buy rating on the shipping company’s stock.

Several other research analysts have also weighed in on the stock. StockNews.com upgraded shares of Golar LNG from a sell rating to a hold rating in a research note on Thursday, July 11th. BTIG Research raised their price objective on Golar LNG from $36.00 to $45.00 and gave the company a buy rating in a research report on Tuesday, June 25th. Deutsche Bank Aktiengesellschaft boosted their target price on Golar LNG from $28.00 to $40.00 and gave the stock a buy rating in a report on Wednesday, May 29th. Finally, Stifel Nicolaus raised their price target on Golar LNG from $34.00 to $55.00 and gave the company a buy rating in a report on Monday, June 24th. Three research analysts have rated the stock with a hold rating and four have given a buy rating to the company’s stock. According to data from MarketBeat, the stock has an average rating of Moderate Buy and a consensus target price of $42.30.

Golar LNG Stock Performance

Shares of NASDAQ GLNG opened at $34.18 on Friday. The company has a debt-to-equity ratio of 0.34, a quick ratio of 1.49 and a current ratio of 1.49. The stock has a 50 day moving average price of $29.38 and a 200 day moving average price of $25.37. The stock has a market capitalization of $3.57 billion, a PE ratio of 32.55 and a beta of 0.64. Golar LNG has a 52 week low of $19.94 and a 52 week high of $35.07.

Golar LNG (NASDAQ:GLNG) last released its quarterly earnings data on Tuesday, May 28th. The shipping company reported $0.45 EPS for the quarter, beating the consensus estimate of $0.44 by $0.01. The company had revenue of $63.19 million during the quarter, compared to the consensus estimate of $72.27 million. Golar LNG had a return on equity of 10.15% and a net margin of 38.11%. Analysts predict that Golar LNG will post 1.88 earnings per share for the current fiscal year.

Golar LNG Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Monday, June 17th. Shareholders of record on Monday, June 10th were given a dividend of $0.25 per share. This represents a $1.00 annualized dividend and a yield of 2.93%. The ex-dividend date was Monday, June 10th. Golar LNG’s payout ratio is 95.24%.

Hedge Funds Weigh In On Golar LNG

Several institutional investors and hedge funds have recently modified their holdings of GLNG. SG Americas Securities LLC bought a new stake in Golar LNG in the 4th quarter valued at about $588,000. Kingswood Wealth Advisors LLC increased its stake in Golar LNG by 8.0% during the 4th quarter. Kingswood Wealth Advisors LLC now owns 10,800 shares of the shipping company’s stock worth $248,000 after acquiring an additional 800 shares during the period. Mirae Asset Global Investments Co. Ltd. raised its holdings in Golar LNG by 3.6% in the 4th quarter. Mirae Asset Global Investments Co. Ltd. now owns 78,574 shares of the shipping company’s stock valued at $1,806,000 after acquiring an additional 2,708 shares in the last quarter. Nisa Investment Advisors LLC lifted its position in shares of Golar LNG by 182.8% during the 4th quarter. Nisa Investment Advisors LLC now owns 13,915 shares of the shipping company’s stock valued at $320,000 after acquiring an additional 8,994 shares during the period. Finally, Harvey Capital Management Inc. increased its position in shares of Golar LNG by 183.7% in the fourth quarter. Harvey Capital Management Inc. now owns 205,205 shares of the shipping company’s stock worth $4,718,000 after purchasing an additional 132,875 shares during the period. 92.21% of the stock is currently owned by institutional investors and hedge funds.

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.