Golar LNG (NASDAQ:GLNG) Reaches New 52-Week High – Still a Buy?

Golar LNG Limited (NASDAQ:GLNGGet Free Report) shares hit a new 52-week high on Tuesday . The stock traded as high as $57.59 and last traded at $57.41, with a volume of 109285 shares trading hands. The stock had previously closed at $56.82.

Analyst Ratings Changes

Several analysts have commented on the stock. The Goldman Sachs Group set a $56.00 target price on shares of Golar LNG in a research report on Monday, February 2nd. Wall Street Zen lowered shares of Golar LNG from a “hold” rating to a “sell” rating in a research note on Saturday, April 25th. Finally, BTIG Research upped their price objective on shares of Golar LNG from $50.00 to $53.00 and gave the stock a “buy” rating in a report on Wednesday, February 25th. One equities research analyst has rated the stock with a Strong Buy rating, two have given a Buy rating and three have given a Hold rating to the company’s stock. Based on data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average target price of $51.13.

Get Our Latest Stock Report on GLNG

Golar LNG Price Performance

The stock has a 50 day moving average of $52.29 and a two-hundred day moving average of $44.13. The company has a debt-to-equity ratio of 1.19, a quick ratio of 2.55 and a current ratio of 2.55. The firm has a market capitalization of $5.80 billion, a P/E ratio of 89.41 and a beta of 0.06.

Golar LNG (NASDAQ:GLNGGet Free Report) last announced its earnings results on Saturday, February 14th. The shipping company reported $0.09 earnings per share (EPS) for the quarter. Golar LNG had a return on equity of 6.24% and a net margin of 16.69%.The firm had revenue of $132.81 million during the quarter. Sell-side analysts predict that Golar LNG Limited will post 0.58 earnings per share for the current fiscal year.

Golar LNG Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Wednesday, March 18th. Investors of record on Monday, March 9th were issued a dividend of $0.25 per share. This represents a $1.00 annualized dividend and a dividend yield of 1.7%. The ex-dividend date of this dividend was Monday, March 9th. Golar LNG’s dividend payout ratio is currently 156.25%.

Institutional Inflows and Outflows

Institutional investors have recently bought and sold shares of the company. AdvisorNet Financial Inc boosted its holdings in Golar LNG by 108.5% during the first quarter. AdvisorNet Financial Inc now owns 515 shares of the shipping company’s stock valued at $28,000 after acquiring an additional 268 shares during the period. State of Alaska Department of Revenue increased its stake in shares of Golar LNG by 6.4% in the fourth quarter. State of Alaska Department of Revenue now owns 4,540 shares of the shipping company’s stock worth $168,000 after purchasing an additional 274 shares during the period. Franklin Resources Inc. increased its stake in shares of Golar LNG by 2.2% in the fourth quarter. Franklin Resources Inc. now owns 16,707 shares of the shipping company’s stock worth $622,000 after purchasing an additional 359 shares during the period. State of Wyoming lifted its position in shares of Golar LNG by 12.7% during the 4th quarter. State of Wyoming now owns 3,878 shares of the shipping company’s stock worth $144,000 after purchasing an additional 436 shares during the last quarter. Finally, Legal & General Group Plc lifted its position in shares of Golar LNG by 2.8% during the 2nd quarter. Legal & General Group Plc now owns 17,100 shares of the shipping company’s stock worth $704,000 after purchasing an additional 459 shares during the last quarter. Institutional investors own 92.21% of the company’s stock.

Golar LNG Company Profile

(Get Free Report)

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.

Recommended Stories

Receive News & Ratings for Golar LNG Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Golar LNG and related companies with MarketBeat.com's FREE daily email newsletter.