Golar LNG Limited (NASDAQ:GLNG) Receives $50.13 Consensus Target Price from Brokerages

Golar LNG Limited (NASDAQ:GLNG) has earned an average recommendation of “Buy” from the six research firms that are covering the stock, MarketBeat.com reports. One analyst has rated the stock with a hold recommendation, four have given a buy recommendation and one has given a strong buy recommendation to the company. The average 1 year price objective among brokerages that have covered the stock in the last year is $50.13.

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

Institutional Trading of Golar LNG

Several large investors have recently added to or reduced their stakes in GLNG. Naria Inc. purchased a new stake in shares of Golar LNG in the 4th quarter worth about $435,226,000. Millennium Management LLC boosted its holdings in shares of Golar LNG by 49.2% during the 4th quarter. Millennium Management LLC now owns 4,638,045 shares of the shipping company’s stock valued at $196,282,000 after buying an additional 1,529,884 shares in the last quarter. State Street Corp grew its position in shares of Golar LNG by 5.2% in the 3rd quarter. State Street Corp now owns 1,920,590 shares of the shipping company’s stock worth $70,601,000 after buying an additional 94,336 shares during the period. Encompass Capital Advisors LLC bought a new position in shares of Golar LNG in the 4th quarter worth about $55,413,000. Finally, Vanguard Group Inc. lifted its position in Golar LNG by 1.7% during the 4th quarter. Vanguard Group Inc. now owns 1,093,098 shares of the shipping company’s stock valued at $46,260,000 after acquiring an additional 18,475 shares during the period. Institutional investors own 92.21% of the company’s stock.

Golar LNG Trading Up 2.2 %

Shares of Golar LNG stock opened at $38.13 on Monday. The business’s 50-day moving average price is $36.76 and its 200-day moving average price is $38.75. The firm has a market capitalization of $3.99 billion, a PE ratio of 272.38 and a beta of 0.47. Golar LNG has a 12 month low of $24.42 and a 12 month high of $44.36.

Golar LNG Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Tuesday, March 18th. Stockholders of record on Tuesday, March 11th were paid a dividend of $0.25 per share. The ex-dividend date of this dividend was Tuesday, March 11th. This represents a $1.00 annualized dividend and a dividend yield of 2.62%. Golar LNG’s dividend payout ratio (DPR) 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.