Golar LNG Limited (NASDAQ:GLNG) Given Consensus Rating of “Buy” by Brokerages

Golar LNG Limited (NASDAQ:GLNG) has earned an average rating of “Buy” from the nine analysts that are currently covering the company, Marketbeat reports. Three investment analysts have rated the stock with a hold rating, three have given a buy rating and three have issued a strong buy rating on the company. The average 12-month price target among analysts that have issued ratings on the stock in the last year is $50.50.

Several analysts recently issued reports on GLNG shares. Zacks Research raised shares of Golar LNG from a “strong sell” rating to a “hold” rating in a research report on Monday, January 5th. BTIG Research lifted their price objective on shares of Golar LNG from $50.00 to $53.00 and gave the company a “buy” rating in a report on Wednesday, February 25th. Wall Street Zen downgraded shares of Golar LNG from a “hold” rating to a “sell” rating in a research report on Saturday, February 28th. The Goldman Sachs Group set a $56.00 target price on shares of Golar LNG in a report on Monday, February 2nd. Finally, Weiss Ratings reaffirmed a “hold (c+)” rating on shares of Golar LNG in a research report on Monday, December 29th.

Golar LNG Price Performance

GLNG stock opened at $45.55 on Thursday. The company has a debt-to-equity ratio of 1.19, a current ratio of 2.55 and a quick ratio of 1.32. The company’s 50-day moving average is $41.75 and its 200-day moving average is $40.21. The stock has a market capitalization of $4.76 billion, a PE ratio of 71.17 and a beta of 0.18. Golar LNG has a 1 year low of $29.56 and a 1 year high of $47.48.

Golar LNG (NASDAQ:GLNG) last posted its quarterly earnings results on Wednesday, February 25th. The shipping company reported $0.30 earnings per share for the quarter, missing analysts’ consensus estimates of $0.38 by ($0.08). Golar LNG had a return on equity of 6.24% and a net margin of 16.69%.The firm had revenue of $132.81 million for the quarter, compared to analyst estimates of $123.29 million. Equities research analysts expect that Golar LNG will post 1.39 EPS for the current fiscal year.

Golar LNG Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, March 18th. Stockholders of record on Monday, March 9th will be paid a $0.25 dividend. The ex-dividend date of this dividend is Monday, March 9th. This represents a $1.00 annualized dividend and a dividend yield of 2.2%. Golar LNG’s dividend payout ratio is 156.25%.

Institutional Investors Weigh In On Golar LNG

Several institutional investors have recently bought and sold shares of GLNG. Rubric Capital Management LP increased its position in Golar LNG by 2.3% in the second quarter. Rubric Capital Management LP now owns 9,178,978 shares of the shipping company’s stock worth $378,082,000 after buying an additional 203,829 shares during the last quarter. PointState Capital LP grew its stake in shares of Golar LNG by 19.3% during the 4th quarter. PointState Capital LP now owns 3,932,104 shares of the shipping company’s stock worth $146,314,000 after acquiring an additional 637,081 shares during the period. T. Rowe Price Investment Management Inc. grew its stake in shares of Golar LNG by 253.7% during the 4th quarter. T. Rowe Price Investment Management Inc. now owns 2,306,379 shares of the shipping company’s stock worth $85,821,000 after acquiring an additional 1,654,353 shares during the period. Morgan Stanley increased its holdings in Golar LNG by 14.0% in the 4th quarter. Morgan Stanley now owns 2,110,671 shares of the shipping company’s stock worth $78,538,000 after acquiring an additional 259,915 shares during the last quarter. Finally, Cartenna Capital LP increased its holdings in Golar LNG by 13.2% in the 3rd quarter. Cartenna Capital LP now owns 1,925,000 shares of the shipping company’s stock worth $77,789,000 after acquiring an additional 225,000 shares during the last quarter. Institutional investors own 92.21% of the company’s stock.

About Golar LNG

Golar LNG Ltd. is a leading owner and operator of liquefied natural gas (LNG) carriers and floating infrastructure. The company specializes in the transportation of LNG on long-term and spot charters for major energy firms around the world. In addition to shipping, Golar LNG has broadened its services to include project development and the conversion of existing carriers into Floating Liquefied Natural Gas (FLNG) and Floating Storage and Regasification Unit (FSRU) vessels.

Since pioneering the first purpose-built FLNG conversion project, Golar LNG has been at the forefront of offshore gas monetization.