Golar LNG (NASDAQ:GLNG) Hits New 1-Year High at $36.73

Golar LNG Limited (NASDAQ:GLNG)’s stock price reached a new 52-week high on Friday . The stock traded as high as $36.73 and last traded at $36.55, with a volume of 44398 shares changing hands. The stock had previously closed at $35.59.

Analysts Set New Price Targets

A number of analysts recently issued reports on GLNG shares. StockNews.com upgraded Golar LNG to a “sell” rating in a research report on Thursday, September 19th. Stifel Nicolaus dropped their price target on shares of Golar LNG from $55.00 to $53.00 and set a “buy” rating for the company in a research note on Friday, August 16th. Deutsche Bank Aktiengesellschaft increased their price objective on shares of Golar LNG from $43.00 to $56.00 and gave the stock a “buy” rating in a research report on Friday, August 16th. B. Riley boosted their target price on Golar LNG from $35.50 to $44.50 and gave the company a “buy” rating in a research report on Friday, July 19th. Finally, BTIG Research increased their price target on Golar LNG from $36.00 to $45.00 and gave the stock a “buy” rating in a report on Tuesday, June 25th. One research analyst has rated the stock with a sell rating and four have issued a buy rating to the company’s stock. According to data from MarketBeat.com, Golar LNG currently has a consensus rating of “Moderate Buy” and an average price target of $49.63.

Golar LNG Stock Performance

The company has a debt-to-equity ratio of 0.31, a current ratio of 1.24 and a quick ratio of 1.28. The company has a market cap of $3.95 billion, a PE ratio of 35.73 and a beta of 0.58. The business has a fifty day simple moving average of $33.25 and a two-hundred day simple moving average of $29.21.

Golar LNG (NASDAQ:GLNG) last issued its quarterly earnings data on Thursday, August 15th. The shipping company reported $0.42 earnings per share for the quarter, missing analysts’ consensus estimates of $0.44 by ($0.02). Golar LNG had a return on equity of 9.20% and a net margin of 50.89%. The company had revenue of $62.98 million for the quarter, compared to analysts’ expectations of $67.38 million. Research analysts anticipate that Golar LNG Limited will post 1.56 earnings per share for the current year.

Golar LNG Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Tuesday, September 3rd. Stockholders of record on Monday, August 26th were given a dividend of $0.25 per share. This represents a $1.00 dividend on an annualized basis and a dividend yield of 2.65%. The ex-dividend date of this dividend was Monday, August 26th. Golar LNG’s payout ratio is presently 95.24%.

Institutional Investors Weigh In On Golar LNG

Hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Lowe Wealth Advisors LLC acquired a new stake in shares of Golar LNG during the second quarter worth $45,000. EverSource Wealth Advisors LLC grew its stake in Golar LNG by 206.2% during the 2nd quarter. EverSource Wealth Advisors LLC now owns 1,727 shares of the shipping company’s stock valued at $54,000 after purchasing an additional 1,163 shares during the last quarter. Quarry LP increased its holdings in shares of Golar LNG by 1,559.3% in the second quarter. Quarry LP now owns 2,323 shares of the shipping company’s stock valued at $73,000 after purchasing an additional 2,183 shares during the period. Banque Cantonale Vaudoise lifted its holdings 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 worth $132,000 after purchasing an additional 417 shares during the period. Finally, Lake Hills Wealth Management LLC purchased a new stake in Golar LNG in the second quarter valued at approximately $212,000. 92.21% of the stock is currently 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.