Golar LNG Limited (NASDAQ:GLNG) Receives Consensus Recommendation of “Buy” from Brokerages

Golar LNG Limited (NASDAQ:GLNG) has been assigned a consensus rating of “Buy” from the six research firms that are currently covering the company, MarketBeat reports. One investment analyst has rated the stock with a hold rating, four have given a buy rating and one has issued a strong buy rating on the company. The average 12-month target price among brokers that have covered the stock in the last year is $50.13.

A number of research firms have issued reports on GLNG. Fearnley Fonds raised Golar LNG from a “hold” rating to a “strong-buy” rating in a research note on Wednesday, March 19th. StockNews.com upgraded shares of Golar LNG to a “sell” rating in a research report on Thursday, March 20th. Stifel Nicolaus upped their price target on shares of Golar LNG from $53.00 to $55.00 and gave the company a “buy” rating in a research note on Tuesday, December 24th. Finally, DNB Markets cut shares of Golar LNG from a “buy” rating to a “hold” rating in a research note on Wednesday, February 19th.

Golar LNG Trading Down 1.6 %

Shares of GLNG stock opened at $39.72 on Thursday. The stock has a market capitalization of $4.15 billion, a price-to-earnings ratio of 283.73 and a beta of 0.78. Golar LNG has a 12-month low of $23.47 and a 12-month high of $44.36. The stock’s 50-day moving average price is $38.75 and its 200-day moving average price is $38.58.

Golar LNG Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, March 18th. Shareholders of record on Tuesday, March 11th were paid a dividend of $0.25 per share. This represents a $1.00 annualized dividend and a yield of 2.52%. The ex-dividend date was Tuesday, March 11th. Golar LNG’s payout ratio is 208.33%.

Institutional Investors Weigh In On Golar LNG

Several hedge funds and other institutional investors have recently made changes to their positions in GLNG. 111 Capital bought a new position in Golar LNG during the 4th quarter valued at about $248,000. Teza Capital Management LLC bought a new position in shares of Golar LNG during the fourth quarter valued at approximately $2,652,000. Toronto Dominion Bank purchased a new stake in shares of Golar LNG in the fourth quarter worth approximately $1,185,000. Sagefield Capital LP bought a new stake in shares of Golar LNG during the 4th quarter worth approximately $8,725,000. Finally, ProShare Advisors LLC boosted its holdings in Golar LNG by 49.0% during the 4th quarter. ProShare Advisors LLC now owns 27,871 shares of the shipping company’s stock valued at $1,180,000 after acquiring an additional 9,169 shares during the period. Hedge funds and other institutional investors own 92.21% of the company’s stock.

About Golar LNG

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.