Golar LNG Limited (NASDAQ:GLNG) Receives $49.90 Consensus Price Target from Analysts

Shares of Golar LNG Limited (NASDAQ:GLNG) have been assigned an average recommendation of “Buy” from the nine research firms that are presently covering the company, Marketbeat reports. Three research analysts have rated the stock with a hold recommendation, three have issued a buy recommendation and three have assigned a strong buy recommendation to the company. The average 1 year target price among brokers that have covered the stock in the last year is $49.90.

Several equities analysts recently commented on GLNG shares. The Goldman Sachs Group set a $56.00 price objective on shares of Golar LNG in a research note on Monday, February 2nd. BTIG Research reiterated a “buy” rating and set a $50.00 price target on shares of Golar LNG in a report on Wednesday, November 5th. Wall Street Zen cut Golar LNG from a “hold” rating to a “sell” rating in a research note on Saturday, December 20th. Zacks Research upgraded Golar LNG from a “strong sell” rating to a “hold” rating in a research report on Monday, January 5th. Finally, Weiss Ratings reaffirmed a “hold (c+)” rating on shares of Golar LNG in a report on Monday, December 29th.

Golar LNG Stock Performance

Golar LNG stock opened at $43.61 on Friday. The company has a quick ratio of 1.32, a current ratio of 1.32 and a debt-to-equity ratio of 0.61. The stock has a market cap of $4.56 billion, a PE ratio of 76.51 and a beta of 0.20. Golar LNG has a 12-month low of $29.56 and a 12-month high of $45.98. The business’s 50-day moving average price is $38.97 and its two-hundred day moving average price is $39.69.

Institutional Inflows and Outflows

A number of large investors have recently added to or reduced their stakes in the business. Caitong International Asset Management Co. Ltd grew its holdings in Golar LNG by 278.2% during the 3rd quarter. Caitong International Asset Management Co. Ltd now owns 658 shares of the shipping company’s stock worth $27,000 after acquiring an additional 484 shares during the last quarter. Smartleaf Asset Management LLC lifted its holdings in shares of Golar LNG by 281.9% during the third quarter. Smartleaf Asset Management LLC now owns 909 shares of the shipping company’s stock worth $37,000 after purchasing an additional 671 shares during the period. Allworth Financial LP grew its stake in shares of Golar LNG by 43.5% in the second quarter. Allworth Financial LP now owns 990 shares of the shipping company’s stock worth $41,000 after purchasing an additional 300 shares during the last quarter. Crossingbridge Advisors LLC bought a new stake in shares of Golar LNG in the second quarter worth $41,000. Finally, Penserra Capital Management LLC acquired a new stake in Golar LNG in the second quarter valued at $50,000. Institutional investors own 92.21% of the company’s stock.

Golar LNG Company Profile

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.