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.

Golar LNG (NASDAQ:GLNG) last released its quarterly earnings results on Tuesday, May 21st. The shipping company reported ($0.37) earnings per share for the quarter, missing the consensus estimate of ($0.26) by ($0.11). Golar LNG had a negative return on equity of 2.93% and a negative net margin of 52.68%. The company had revenue of $97.79 million for the quarter, compared to analyst estimates of $88.87 million. As a group, research analysts forecast that Golar LNG Limited will post -0.42 earnings per share for the current year.

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.

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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.

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