Analysts Set Golar LNG Limited (NASDAQ:GLNG) Price Target at $63.00

Shares of Golar LNG Limited (NASDAQ:GLNG) have earned an average rating of “Moderate Buy” from the seven research firms that are covering the stock, Marketbeat Ratings reports. Two investment analysts have rated the stock with a hold recommendation, four have given a buy recommendation and one has issued a strong buy recommendation on the company. The average 1 year price target among brokerages that have issued ratings on the stock in the last year is $63.00.

A number of analysts have commented on GLNG shares. Weiss Ratings lowered shares of Golar LNG from a “buy (b-)” rating to a “hold (c+)” rating in a research note on Friday, August 21st. BTIG Research lifted their price objective on shares of Golar LNG from $67.00 to $70.00 and gave the stock a “buy” rating in a research report on Friday, August 14th. Pareto Securities raised shares of Golar LNG from a “hold” rating to a “buy” rating in a research note on Monday, August 24th. The Goldman Sachs Group set a $66.00 target price on Golar LNG and gave the company a “conviction-buy” rating in a report on Tuesday, July 7th. Finally, Wall Street Zen cut Golar LNG from a “hold” rating to a “sell” rating in a research report on Saturday, June 27th.

Institutional Investors Weigh In On Golar LNG

A number of institutional investors have recently bought and sold shares of GLNG. AdvisorNet Financial Inc lifted its position in shares of Golar LNG by 108.5% in the first quarter. AdvisorNet Financial Inc now owns 515 shares of the shipping company’s stock worth $28,000 after purchasing an additional 268 shares in the last quarter. Public Employees Retirement System of Ohio acquired a new stake in shares of Golar LNG during the second quarter worth approximately $33,000. EverSource Wealth Advisors LLC boosted its holdings in shares of Golar LNG by 17.0% during the first quarter. EverSource Wealth Advisors LLC now owns 1,532 shares of the shipping company’s stock worth $83,000 after purchasing an additional 223 shares during the period. Leonteq Securities AG grew its position in Golar LNG by 253,100.0% during the first quarter. Leonteq Securities AG now owns 2,532 shares of the shipping company’s stock valued at $137,000 after purchasing an additional 2,531 shares in the last quarter. Finally, SmartHarvest Portfolios LLC purchased a new position in Golar LNG during the first quarter valued at approximately $208,000. 92.21% of the stock is currently owned by institutional investors and hedge funds.

Golar LNG Trading Down 1.0%

Shares of NASDAQ GLNG opened at $49.94 on Monday. The business has a fifty day simple moving average of $50.84 and a 200-day simple moving average of $51.49. The company has a market cap of $5.06 billion, a price-to-earnings ratio of 31.21 and a beta of 0.05. Golar LNG has a 12 month low of $35.02 and a 12 month high of $57.79. The company has a quick ratio of 2.34, a current ratio of 2.34 and a debt-to-equity ratio of 1.11.

Golar LNG Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Wednesday, September 2nd. Investors of record on Monday, August 24th were paid a $0.25 dividend. This represents a $1.00 annualized dividend and a yield of 2.0%. The ex-dividend date of this dividend was Monday, August 24th. Golar LNG’s dividend payout ratio is currently 62.50%.

About Golar LNG

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.