Golar LNG (NASDAQ:GLNG) Upgraded at StockNews.com

StockNews.com upgraded shares of Golar LNG (NASDAQ:GLNG) to a sell rating in a research report sent to investors on Wednesday morning.

GLNG has been the subject of a number of other reports. Stifel Nicolaus lowered their price objective on shares of Golar LNG from $55.00 to $53.00 and set a “buy” rating for the company in a research report on Friday, August 16th. B. Riley upped their price target on shares of Golar LNG from $35.50 to $44.50 and gave the stock a “buy” rating in a report on Friday, July 19th. Finally, Deutsche Bank Aktiengesellschaft raised their price objective on Golar LNG from $43.00 to $56.00 and gave the company a “buy” rating in a report on Friday, August 16th. One research analyst has rated the stock with a sell rating, one has issued a hold rating and four have given a buy rating to the stock. Based on data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus price target of $49.63.

Golar LNG Price Performance

Golar LNG stock opened at $34.00 on Wednesday. The company has a debt-to-equity ratio of 0.31, a quick ratio of 1.28 and a current ratio of 1.24. Golar LNG has a 52 week low of $19.94 and a 52 week high of $39.40. The stock has a market capitalization of $3.55 billion, a P/E ratio of 25.37 and a beta of 0.58. The stock has a fifty day moving average of $36.24 and a 200-day moving average of $32.45.

Golar LNG (NASDAQ:GLNG) last issued its earnings results on Thursday, August 15th. The shipping company reported $0.42 EPS for the quarter, missing the consensus estimate of $0.44 by ($0.02). Golar LNG had a return on equity of 9.20% and a net margin of 50.89%. The business had revenue of $62.98 million for the quarter, compared to analyst estimates of $67.38 million. On average, sell-side analysts expect that Golar LNG will post 1.29 earnings per share for the current fiscal year.

Golar LNG Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Monday, December 2nd. Stockholders of record on Monday, November 25th will be paid a dividend of $0.25 per share. This represents a $1.00 annualized dividend and a dividend yield of 2.94%. The ex-dividend date is Monday, November 25th. Golar LNG’s payout ratio is currently 74.63%.

Institutional Trading of Golar LNG

Several institutional investors have recently modified their holdings of the business. Public Employees Retirement System of Ohio acquired a new position in Golar LNG during the 3rd quarter worth about $32,000. Lowe Wealth Advisors LLC bought a new position in shares of Golar LNG during the second quarter worth about $45,000. Blue Trust Inc. lifted its stake in shares of Golar LNG by 105.1% in the third quarter. Blue Trust Inc. now owns 1,372 shares of the shipping company’s stock worth $50,000 after acquiring an additional 703 shares during the period. Sound Income Strategies LLC bought a new stake in Golar LNG in the third quarter valued at approximately $52,000. Finally, EverSource Wealth Advisors LLC increased its position in Golar LNG by 206.2% during the 2nd quarter. EverSource Wealth Advisors LLC now owns 1,727 shares of the shipping company’s stock valued at $54,000 after purchasing an additional 1,163 shares during the period. Institutional investors own 92.21% of the company’s stock.

About Golar LNG

Golar LNG Limited designs, converts, owns, and operates marine infrastructure for the liquefaction of natural gas. The company operates through three segments: FLNG, Corporate and Other, and Shipping. It engages in the regasification, storage, and offloading of liquefied natural gas (LNG); operation of floating liquefaction natural gas (FLNG) vessels or projects; transportation of LNG carriers; and vessel management activities.