Stock Traders Buy Large Volume of Call Options on Golar LNG (NASDAQ:GLNG)

Golar LNG Limited (NASDAQ:GLNG) saw some unusual options trading on Wednesday. Investors acquired 5,445 call options on the stock. This represents an increase of 88% compared to the typical volume of 2,903 call options.

Analysts Set New Price Targets

A number of research analysts recently commented on the company. DNB Markets downgraded Golar LNG from a “buy” rating to a “hold” rating in a report on Wednesday, February 19th. StockNews.com upgraded Golar LNG to a “sell” rating in a research note on Monday, December 9th. Finally, Stifel Nicolaus lifted their price target on shares of Golar LNG from $53.00 to $55.00 and gave the stock a “buy” rating in a research note on Tuesday, December 24th. One equities research analyst has rated the stock with a sell rating, two have issued a hold rating and four have issued a buy rating to the stock. Based on data from MarketBeat, the company currently has an average rating of “Hold” and an average price target of $50.13.

Institutional Trading of Golar LNG

Institutional investors have recently added to or reduced their stakes in the business. Metis Global Partners LLC bought a new stake in shares of Golar LNG during the 3rd quarter valued at about $201,000. Royce & Associates LP boosted its stake in Golar LNG by 102.5% in the third quarter. Royce & Associates LP now owns 81,000 shares of the shipping company’s stock valued at $2,978,000 after acquiring an additional 41,000 shares during the period. Intech Investment Management LLC bought a new position in shares of Golar LNG during the third quarter valued at approximately $1,165,000. Quantbot Technologies LP acquired a new stake in shares of Golar LNG during the 3rd quarter worth approximately $3,981,000. Finally, BNP Paribas Financial Markets lifted its holdings in shares of Golar LNG by 5.4% in the 3rd quarter. BNP Paribas Financial Markets now owns 26,694 shares of the shipping company’s stock worth $981,000 after purchasing an additional 1,360 shares during the last quarter. Institutional investors own 92.21% of the company’s stock.

Golar LNG Stock Up 6.2 %

NASDAQ:GLNG opened at $37.20 on Thursday. Golar LNG has a 52 week low of $23.45 and a 52 week high of $44.36. The company has a market cap of $3.88 billion, a PE ratio of 265.73 and a beta of 0.78. The business’s 50 day moving average is $38.99 and its two-hundred day moving average is $38.33.

Golar LNG Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, March 18th. Shareholders of record on Tuesday, March 11th were issued a $0.25 dividend. This represents a $1.00 dividend on an annualized basis and a yield of 2.69%. The ex-dividend date of this dividend was Tuesday, March 11th. Golar LNG’s dividend payout ratio is presently 208.33%.

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.