Golar LNG Limited (NASDAQ:GLNG) Given Consensus Recommendation of “Moderate Buy” by Brokerages

Golar LNG Limited (NASDAQ:GLNG) has been given an average recommendation of “Moderate Buy” by the five ratings firms that are covering the company, Marketbeat reports. One research analyst has rated the stock with a hold recommendation and four have given a buy recommendation to the company. The average 1 year price target among brokers that have covered the stock in the last year is $45.10.

GLNG has been the subject of several research reports. B. Riley increased their price target on shares of Golar LNG from $35.50 to $44.50 and gave the stock a “buy” rating in a research note on Friday, July 19th. Deutsche Bank Aktiengesellschaft boosted their price target on shares of Golar LNG from $43.00 to $56.00 and gave the stock a “buy” rating in a research note on Friday, August 16th. BTIG Research upped their price target on shares of Golar LNG from $36.00 to $45.00 and gave the company a “buy” rating in a report on Tuesday, June 25th. Stifel Nicolaus dropped their target price on shares of Golar LNG from $55.00 to $53.00 and set a “buy” rating on the stock in a research note on Friday, August 16th. Finally, StockNews.com downgraded shares of Golar LNG from a “hold” rating to a “sell” rating in a research note on Wednesday, July 24th.

Golar LNG Price Performance

Shares of Golar LNG stock opened at $31.17 on Friday. Golar LNG has a 52-week low of $19.94 and a 52-week high of $36.52. The stock has a market capitalization of $3.26 billion, a price-to-earnings ratio of 29.69 and a beta of 0.58. The company has a fifty day moving average of $33.29 and a 200-day moving average of $28.29. The company has a debt-to-equity ratio of 0.31, a quick ratio of 1.28 and a current ratio of 1.24.

Golar LNG (NASDAQ:GLNG) last posted its quarterly earnings results on Thursday, August 15th. The shipping company reported $0.42 EPS for the quarter, missing analysts’ consensus estimates of $0.44 by ($0.02). Golar LNG had a net margin of 50.89% and a return on equity of 9.20%. The firm had revenue of $62.98 million for the quarter, compared to the consensus estimate of $67.38 million. Equities research analysts expect that Golar LNG will post 1.56 EPS for the current year.

Golar LNG Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Tuesday, September 3rd. Stockholders of record on Monday, August 26th were given a $0.25 dividend. The ex-dividend date was Monday, August 26th. This represents a $1.00 annualized dividend and a dividend yield of 3.21%. Golar LNG’s dividend payout ratio (DPR) is 95.24%.

Hedge Funds Weigh In On Golar LNG

Several hedge funds and other institutional investors have recently modified their holdings of GLNG. Lowe Wealth Advisors LLC purchased a new position in Golar LNG during the second quarter worth about $45,000. EverSource Wealth Advisors LLC increased its position in shares of Golar LNG by 206.2% during the second quarter. EverSource Wealth Advisors LLC now owns 1,727 shares of the shipping company’s stock valued at $54,000 after acquiring an additional 1,163 shares during the last quarter. Quarry LP increased its position in shares of Golar LNG by 1,559.3% during the second quarter. Quarry LP now owns 2,323 shares of the shipping company’s stock valued at $73,000 after acquiring an additional 2,183 shares during the last quarter. Banque Cantonale Vaudoise increased its position in shares of Golar LNG by 11.1% during the second quarter. Banque Cantonale Vaudoise now owns 4,185 shares of the shipping company’s stock valued at $132,000 after acquiring an additional 417 shares during the last quarter. Finally, Zurcher Kantonalbank Zurich Cantonalbank grew its holdings in shares of Golar LNG by 26,805.3% in the fourth quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 5,112 shares of the shipping company’s stock valued at $118,000 after purchasing an additional 5,093 shares in the last quarter. 92.21% of the stock is owned by hedge funds and other institutional investors.

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.