BidaskClub upgraded shares of Golar LNG (NASDAQ:GLNG) from a buy rating to a strong-buy rating in a report published on Friday.

A number of other analysts also recently issued reports on GLNG. Citigroup reduced their price target on shares of Golar LNG from $28.00 to $26.00 and set a buy rating on the stock in a report on Thursday, August 17th. Stifel Nicolaus reiterated a buy rating and issued a $36.00 price target on shares of Golar LNG in a report on Monday, August 21st. Cowen reiterated an outperform rating and issued a $45.00 price target on shares of Golar LNG in a report on Thursday, August 31st. Morgan Stanley reiterated an overweight rating and issued a $31.00 price target (down from $32.00) on shares of Golar LNG in a report on Friday, September 1st. Finally, ValuEngine cut shares of Golar LNG from a hold rating to a sell rating in a research note on Friday, September 1st. One research analyst has rated the stock with a sell rating, two have issued a hold rating, six have assigned a buy rating and one has assigned a strong buy rating to the stock. Golar LNG currently has an average rating of Buy and a consensus target price of $34.40.

Shares of Golar LNG (NASDAQ:GLNG) traded up $1.18 during midday trading on Friday, reaching $27.68. 4,249,178 shares of the company’s stock were exchanged, compared to its average volume of 1,215,004. The company has a debt-to-equity ratio of 0.77, a quick ratio of 0.41 and a current ratio of 0.41. Golar LNG has a one year low of $19.32 and a one year high of $29.18.

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, January 4th. Shareholders of record on Thursday, December 14th will be paid a $0.05 dividend. The ex-dividend date is Wednesday, December 13th. This represents a $0.20 dividend on an annualized basis and a dividend yield of 0.72%. Golar LNG’s payout ratio is currently -10.26%.

Several large investors have recently modified their holdings of the business. California Public Employees Retirement System grew its stake in shares of Golar LNG by 3.3% in the 3rd quarter. California Public Employees Retirement System now owns 88,000 shares of the shipping company’s stock worth $1,990,000 after buying an additional 2,800 shares in the last quarter. Alyeska Investment Group L.P. boosted its stake in shares of Golar LNG by 17.6% during the 3rd quarter. Alyeska Investment Group L.P. now owns 2,356,050 shares of the shipping company’s stock worth $53,270,000 after purchasing an additional 353,089 shares during the period. Cowen Inc. boosted its stake in shares of Golar LNG by 143.9% during the 3rd quarter. Cowen Inc. now owns 84,400 shares of the shipping company’s stock worth $1,908,000 after purchasing an additional 49,800 shares during the period. Granite Point Capital Management L.P. boosted its stake in shares of Golar LNG by 383.3% during the 3rd quarter. Granite Point Capital Management L.P. now owns 145,000 shares of the shipping company’s stock worth $3,278,000 after purchasing an additional 115,000 shares during the period. Finally, Huber Capital Management LLC purchased a new position in shares of Golar LNG during the 3rd quarter worth about $15,190,000. 82.85% of the stock is owned by institutional investors and hedge funds.

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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).

Analyst Recommendations for Golar LNG (NASDAQ:GLNG)

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