Golar LNG (NASDAQ:GLNG) had its target price lifted by Cowen from $41.00 to $44.00 in a research note published on Tuesday, Marketbeat Ratings reports. Cowen currently has an outperform rating on the shipping company’s stock.

“We are updating our forward estimates based on management’s recent guidance for 7(a) loan originations in 2018 and that factor’s impact on our expectations for timing/size of a secondary offering, as well as modest adjustments to cost of capital from the recent securitization. We are maintaining our rating of NEWT shares at Outperform and raising our target price to $20/share (previously $19) based on what we expect to be a well-covered dividend in 2017 ($1.64/share) and expectations of dividend growth in 2018 (current projection of $1.76/share, though management guidance is only $1.69/share). Risk/reward: We believe the primary risk is a reduction in the gross premium paid for the SBA 7(a) guaranteed loans – though this premium has been very stable over the last 5 years. We believe the downside risk in NEWT shares is (28)%, with upside price return potential of +35%. See page 2 for our risk/reward analysis.”,” the firm’s analyst commented.

A number of other equities research analysts also recently commented on the stock. Zacks Investment Research upgraded shares of Golar LNG from a sell rating to a hold rating in a research report on Wednesday, November 29th. ABN Amro upgraded shares of Golar LNG from a hold rating to a buy rating in a research report on Monday, October 30th. ValuEngine downgraded shares of Golar LNG from a hold rating to a sell rating in a research report on Friday, September 1st. Morgan Stanley restated an overweight rating and issued a $31.00 price objective (down previously from $32.00) on shares of Golar LNG in a research report on Friday, September 1st. Finally, Stifel Nicolaus reiterated a buy rating and set a $36.00 price target on shares of Golar LNG in a research report on Monday, August 21st. One investment analyst has rated the stock with a sell rating, two have given a hold rating, six have assigned a buy rating and one has given a strong buy rating to the company. The company has a consensus rating of Buy and a consensus price target of $34.40.

Shares of Golar LNG (GLNG) traded up $0.04 during trading hours on Tuesday, reaching $26.50. 1,629,900 shares of the company were exchanged, compared to its average volume of 1,197,589. The company has a debt-to-equity ratio of 0.77, a current ratio of 0.41 and a quick ratio of 0.41. Golar LNG has a 1 year low of $19.32 and a 1 year high of $29.18.

The business also recently declared a quarterly dividend, which will be paid on Thursday, January 4th. Stockholders of record on Thursday, December 14th will be given a dividend of $0.05 per share. The ex-dividend date is Wednesday, December 13th. This represents a $0.20 dividend on an annualized basis and a dividend yield of 0.75%. Golar LNG’s payout ratio is -10.26%.

Several hedge funds have recently bought and sold shares of GLNG. Quantbot Technologies LP raised its position in shares of Golar LNG by 71.0% during the 2nd quarter. Quantbot Technologies LP now owns 6,233 shares of the shipping company’s stock worth $138,000 after purchasing an additional 2,589 shares during the last quarter. Sei Investments Co. raised its position in shares of Golar LNG by 19.3% during the 2nd quarter. Sei Investments Co. now owns 6,511 shares of the shipping company’s stock worth $145,000 after purchasing an additional 1,054 shares during the last quarter. PNC Financial Services Group Inc. raised its position in shares of Golar LNG by 104.0% during the 2nd quarter. PNC Financial Services Group Inc. now owns 7,552 shares of the shipping company’s stock worth $168,000 after purchasing an additional 3,850 shares during the last quarter. Seven Eight Capital LP raised its position in shares of Golar LNG by 745.6% during the 2nd quarter. Seven Eight Capital LP now owns 8,870 shares of the shipping company’s stock worth $197,000 after purchasing an additional 7,821 shares during the last quarter. Finally, Fort Washington Investment Advisors Inc. OH raised its position in shares of Golar LNG by 10.3% during the 2nd quarter. Fort Washington Investment Advisors Inc. OH now owns 9,600 shares of the shipping company’s stock worth $214,000 after purchasing an additional 900 shares during the last quarter. Institutional investors own 82.85% of the company’s stock.

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About Golar LNG

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).

Analyst Recommendations for Golar LNG (NASDAQ:GLNG)

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