Golar LNG (NASDAQ:GLNG) Stock Price Down 6.7%
Golar LNG Limited (NASDAQ:GLNG) fell 6.7% during trading on Wednesday . The stock traded as low as $16.41 and last traded at $16.53. 1,546,135 shares changed hands during mid-day trading, an increase of 54% from the average session volume of 1,002,698 shares. The stock had previously closed at $17.72.
A number of research analysts have weighed in on the stock. Zacks Investment Research upgraded shares of Golar LNG from a “hold” rating to a “buy” rating and set a $23.00 price objective for the company in a research report on Wednesday, April 17th. BidaskClub downgraded shares of Golar LNG from a “sell” rating to a “strong sell” rating in a research report on Wednesday, March 27th. Finally, Cowen reiterated an “outperform” rating and issued a $30.00 price objective (down previously from $41.00) on shares of Golar LNG in a research report on Monday, March 4th. Two equities research analysts have rated the stock with a sell rating and twelve have given a buy rating to the company’s stock. The company currently has an average rating of “Buy” and an average target price of $33.20.
The company has a current ratio of 0.51, a quick ratio of 0.51 and a debt-to-equity ratio of 0.89. The stock has a market capitalization of $1.75 billion, a price-to-earnings ratio of -43.50 and a beta of 0.71.
The business also recently declared a quarterly dividend, which will be paid on Wednesday, July 3rd. Investors of record on Thursday, June 13th will be given a dividend of $0.15 per share. The ex-dividend date is Wednesday, June 12th. This represents a $0.60 annualized dividend and a dividend yield of 3.63%. Golar LNG’s dividend payout ratio (DPR) is presently -157.89%.
A number of hedge funds have recently added to or reduced their stakes in the business. Marshall Wace LLP raised its holdings in Golar LNG by 13.1% in the 1st quarter. Marshall Wace LLP now owns 305,542 shares of the shipping company’s stock valued at $6,444,000 after acquiring an additional 35,292 shares during the last quarter. Cerebellum GP LLC raised its holdings in Golar LNG by 116.1% in the 1st quarter. Cerebellum GP LLC now owns 14,720 shares of the shipping company’s stock valued at $310,000 after acquiring an additional 7,908 shares during the last quarter. FMR LLC raised its holdings in Golar LNG by 7.6% in the 1st quarter. FMR LLC now owns 7,966,210 shares of the shipping company’s stock valued at $168,007,000 after acquiring an additional 560,753 shares during the last quarter. Baker Avenue Asset Management LP raised its holdings in Golar LNG by 29.1% in the 1st quarter. Baker Avenue Asset Management LP now owns 152,490 shares of the shipping company’s stock valued at $3,216,000 after acquiring an additional 34,356 shares during the last quarter. Finally, Schonfeld Strategic Advisors LLC acquired a new stake in Golar LNG in the 1st quarter valued at about $211,000. Institutional investors own 72.16% of the company’s stock.
TRADEMARK VIOLATION WARNING: This news story was reported by Watch List News and is the sole property of of Watch List News. If you are accessing this news story on another website, it was illegally copied and reposted in violation of US and international trademark & copyright laws. The original version of this news story can be viewed at https://www.watchlistnews.com/golar-lng-nasdaqglng-stock-price-down-6-7/3039701.html.
About Golar LNG (NASDAQ:GLNG)
Golar LNG Limited, a midstream liquefied natural gas (LNG) company, engages in the transportation, regasification, and liquefaction of LNG. It operates through three segments: Vessel operations, Floating Liquefaction Natural Gas Vessel (FLNG), and Power. The company engages in the acquisition, ownership, operation, and chartering of LNG carriers and floating storage regasification units (FSRUs); and the development of LNG projects.
Receive News & Ratings for Golar LNG Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Golar LNG and related companies with MarketBeat.com's FREE daily email newsletter.