Cowen Increases Golar LNG (GLNG) Price Target to $49.00
Golar LNG (NASDAQ:GLNG) had its price objective increased by Cowen to $49.00 in a research report report published on Wednesday morning, The Fly reports. The brokerage currently has an outperform rating on the shipping company’s stock.
A number of other equities analysts also recently issued reports on GLNG. Zacks Investment Research downgraded Golar LNG from a hold rating to a sell rating in a research note on Tuesday, October 31st. BidaskClub raised Golar LNG from a buy rating to a strong-buy rating in a research note on Friday, December 15th. Jefferies Group started coverage on Golar LNG in a research note on Monday, December 18th. They set a buy rating and a $39.00 target price for the company. Finally, Morgan Stanley increased their target price on Golar LNG from $32.00 to $36.00 and gave the stock an equal weight rating in a research note on Monday, February 12th. Two investment analysts have rated the stock with a sell rating, two have assigned a hold rating and six have issued a buy rating to the stock. Golar LNG has a consensus rating of Hold and a consensus price target of $36.83.
Golar LNG (GLNG) opened at $27.34 on Wednesday. The stock has a market capitalization of $2,723.63, a P/E ratio of -15.45, a PEG ratio of 12.09 and a beta of 0.74. Golar LNG has a one year low of $19.32 and a one year high of $31.64. The company has a debt-to-equity ratio of 0.57, a quick ratio of 0.41 and a current ratio of 0.29.
The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, April 4th. Investors of record on Wednesday, March 14th will be paid a $0.05 dividend. This represents a $0.20 annualized dividend and a yield of 0.73%. The ex-dividend date of this dividend is Tuesday, March 13th. Golar LNG’s payout ratio is currently -11.30%.
A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. ICM Asset Management Inc. WA purchased a new position in Golar LNG in the 4th quarter valued at approximately $255,000. MetLife Investment Advisors LLC purchased a new position in Golar LNG in the 4th quarter valued at approximately $1,315,000. LPL Financial LLC purchased a new position in Golar LNG in the 4th quarter valued at approximately $214,000. Raymond James & Associates purchased a new position in Golar LNG in the 4th quarter valued at approximately $210,000. Finally, Two Sigma Advisers LP purchased a new position in Golar LNG in the 4th quarter valued at approximately $587,000. 85.56% of the stock is owned by hedge funds and other institutional investors.
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Golar LNG Company Profile
Golar LNG Limited is a midstream liquefied natural gas (LNG) company engaged primarily in the transportation, regasification, liquefaction and trading of LNG. The Company is engaged in the acquisition, ownership, operation and chartering of LNG carriers and Floating Storage Regasification Unit (FSRUs) through its subsidiaries and affiliates, and the development of LNG projects, such as floating LNGs (FLNGs).
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