Golar LNG Limited (NASDAQ:GLNG) Stock Has Average Price Target of $68.67 According to Analysts

Shares of Golar LNG Limited (NASDAQ:GLNG) have been given a consensus recommendation of “Buy” by the six ratings firms that are covering the company, MarketBeat.com reports. One equities research analyst has rated the stock with a hold rating, four have given a buy rating and one has assigned a strong buy rating to the company. The average 1-year price objective among brokerages that have updated their coverage on the stock in the last year is $68.67.

GLNG has been the topic of a number of recent research reports. BTIG Research upped their price objective on Golar LNG from $70.00 to $75.00 and gave the company a “buy” rating in a research report on Thursday, September 24th. Wall Street Zen lowered Golar LNG from a “hold” rating to a “sell” rating in a research note on Saturday, June 27th. Weiss Ratings upgraded Golar LNG from a “hold (c+)” rating to a “buy (b-)” rating in a report on Thursday, October 8th. The Goldman Sachs Group set a $66.00 target price on Golar LNG and gave the stock a “conviction-buy” rating in a report on Tuesday, July 7th. Finally, Pareto Securities raised Golar LNG from a “hold” rating to a “buy” rating in a research report on Monday, August 24th.

Golar LNG Price Performance

GLNG stock opened at $44.78 on Friday. The company has a quick ratio of 2.34, a current ratio of 2.34 and a debt-to-equity ratio of 1.11. Golar LNG has a 52 week low of $35.02 and a 52 week high of $57.79. The company has a fifty day simple moving average of $50.20 and a two-hundred day simple moving average of $51.24. The firm has a market capitalization of $4.54 billion, a P/E ratio of 23.60 and a beta of 0.13.

Golar LNG Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Wednesday, September 2nd. Investors of record on Monday, August 24th were given a $0.25 dividend. The ex-dividend date was Monday, August 24th. This represents a $1.00 dividend on an annualized basis and a yield of 2.2%. Golar LNG’s dividend payout ratio (DPR) is currently 62.50%.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently bought and sold shares of the company. Rokos Capital Management LLP purchased a new position in shares of Golar LNG in the 1st quarter valued at $63,293,000. Clearline Capital LP raised its holdings in Golar LNG by 172.6% in the fourth quarter. Clearline Capital LP now owns 1,067,153 shares of the shipping company’s stock worth $39,709,000 after purchasing an additional 675,744 shares in the last quarter. Healthcare of Ontario Pension Plan Trust Fund lifted its position in shares of Golar LNG by 1,114.7% during the first quarter. Healthcare of Ontario Pension Plan Trust Fund now owns 554,943 shares of the shipping company’s stock valued at $30,028,000 after buying an additional 509,256 shares during the last quarter. Renaissance Technologies LLC purchased a new stake in shares of Golar LNG during the first quarter valued at about $20,437,000. Finally, Ashoka WhiteOak Capital Pte Ltd purchased a new stake in Golar LNG during the first quarter valued at approximately $12,321,000. 92.21% of the stock is owned by hedge funds and other institutional investors.

About Golar LNG

Golar LNG Limited is a Bermuda-based company focused on liquefied natural gas (LNG) infrastructure and maritime services. The company specializes in floating liquefied natural gas (FLNG) facilities, which are converted vessels designed to process natural gas offshore, remove impurities, and liquefy it for transportation by LNG carriers.

Golar owns and operates FLNG vessels and provides related project development, engineering, operations, and maintenance services. Its Hilli Episeyo FLNG facility is deployed offshore Cameroon, where it processes natural gas from the Kribi field for export.