Golar LNG Limited (NASDAQ:GLNG) Stock Has Consensus Price Target of $63.00 According to Brokerages

Shares of Golar LNG Limited (NASDAQ:GLNG – Get Free Report) have earned an average rating of “Moderate Buy” from the seven ratings firms that are presently covering the stock, MarketBeat reports. Two equities research analysts have rated the stock with a hold recommendation, four have assigned a buy recommendation and one has issued a strong buy recommendation on the company. The average twelve-month price objective among brokers that have issued ratings on the stock in the last year is $64.25.

Several equities analysts have commented on the company. The Goldman Sachs Group set a $66.00 price objective on Golar LNG and gave the company a “conviction-buy” rating in a research report on Tuesday, July 7th. BTIG Research raised their price target on shares of Golar LNG from $70.00 to $75.00 and gave the company a “buy” rating in a report on Thursday. Wall Street Zen lowered Golar LNG from a “hold” rating to a “sell” rating in a report on Saturday, June 27th. Weiss Ratings lowered shares of Golar LNG from a “buy (b-)” rating to a “hold (c+)” rating in a research report on Friday, August 21st. Finally, Pareto Securities upgraded Golar LNG from a “hold” rating to a “buy” rating in a research report on Monday, August 24th.

Check Out Our Latest Analysis on GLNG

Institutional Trading of Golar LNG

Several hedge funds and other institutional investors have recently bought and sold shares of GLNG. Verbena Value LP boosted its stake in shares of Golar LNG by 17.0% during the first quarter. Verbena Value LP now owns 1,210,402 shares of the shipping company’s stock valued at $65,495,000 after purchasing an additional 175,802 shares in the last quarter. Two Seas Capital LP increased its holdings in shares of Golar LNG by 6.8% in the fourth quarter. Two Seas Capital LP now owns 1,170,998 shares of the shipping company’s stock valued at $43,573,000 after purchasing an additional 75,000 shares during the period. Rokos Capital Management LLP purchased a new position in Golar LNG during the 1st quarter worth approximately $63,293,000. Huber Capital Management LLC raised its holdings in shares of Golar LNG by 22.3% during the fourth quarter. Huber Capital Management LLC now owns 1,129,385 shares of the shipping company’s stock worth $42,024,000 after purchasing an additional 205,667 shares during the last quarter. Finally, Clearline Capital LP lifted its holdings in shares of Golar LNG by 172.6% in the 4th quarter. Clearline Capital LP now owns 1,067,153 shares of the shipping company’s stock valued at $39,709,000 after buying an additional 675,744 shares during the period. Hedge funds and other institutional investors own 92.21% of the company’s stock.

Golar LNG Price Performance

GLNG stock opened at $49.61 on Monday. Golar LNG has a 12-month low of $35.02 and a 12-month high of $57.79. The company has a current ratio of 2.34, a quick ratio of 2.34 and a debt-to-equity ratio of 1.11. The firm’s 50-day moving average price is $50.85 and its two-hundred day moving average price is $51.54. The stock has a market capitalization of $5.03 billion, a price-to-earnings ratio of 31.01 and a beta of 0.05.

Golar LNG Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Wednesday, September 2nd. Shareholders of record on Monday, August 24th were issued a dividend of $0.25 per share. This represents a $1.00 annualized dividend and a yield of 2.0%. The ex-dividend date was Monday, August 24th. Golar LNG’s dividend payout ratio (DPR) is currently 62.50%.

About Golar LNG

(Get Free Report)

Golar LNG Ltd. (NASDAQ: GLNG) is a liquefied natural gas (LNG) infrastructure company focused primarily on floating liquefied natural gas (FLNG) solutions. Its business includes the development, ownership and operation of floating facilities that process natural gas offshore, liquefy it for export and transfer the resulting LNG to carriers for delivery to global markets.

The company’s FLNG vessels are converted from large LNG carriers or purpose-built to provide offshore liquefaction capacity.

Further Reading

Analyst Recommendations for Golar LNG (NASDAQ:GLNG)

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