Golar LNG Limited (NASDAQ:GLNG) Given Average Recommendation of “Moderate Buy” by Brokerages

Golar LNG Limited (NASDAQ:GLNG) has been assigned a consensus rating of “Moderate Buy” from the five ratings firms that are currently covering the firm, MarketBeat Ratings reports. One research analyst has rated the stock with a hold recommendation and four have given a buy recommendation to the company. The average twelve-month price target among brokers that have updated their coverage on the stock in the last year is $50.13.

A number of brokerages have weighed in on GLNG. StockNews.com upgraded Golar LNG to a “sell” rating in a research note on Monday, December 9th. Fearnley Fonds downgraded shares of Golar LNG from a “strong-buy” rating to a “hold” rating in a research report on Wednesday, November 13th. Finally, Stifel Nicolaus upped their price target on shares of Golar LNG from $53.00 to $55.00 and gave the company a “buy” rating in a report on Tuesday, December 24th.

Golar LNG Stock Performance

NASDAQ:GLNG opened at $41.38 on Friday. The firm has a 50-day moving average of $40.15 and a two-hundred day moving average of $36.41. The company has a debt-to-equity ratio of 0.41, a current ratio of 1.55 and a quick ratio of 1.28. The stock has a market cap of $4.32 billion, a P/E ratio of 295.59 and a beta of 0.59. Golar LNG has a 1-year low of $19.94 and a 1-year high of $44.36.

Golar LNG Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Monday, December 2nd. Investors of record on Monday, November 25th were given a dividend of $0.25 per share. This represents a $1.00 annualized dividend and a dividend yield of 2.42%. The ex-dividend date of this dividend was Monday, November 25th. Golar LNG’s dividend payout ratio is currently 714.29%.

Hedge Funds Weigh In On Golar LNG

A number of hedge funds have recently added to or reduced their stakes in the business. Barclays PLC lifted its position in shares of Golar LNG by 431.3% in the 3rd quarter. Barclays PLC now owns 185,018 shares of the shipping company’s stock worth $6,802,000 after buying an additional 150,195 shares during the last quarter. De Lisle Partners LLP boosted its stake in Golar LNG by 9.1% in the third quarter. De Lisle Partners LLP now owns 249,390 shares of the shipping company’s stock valued at $9,169,000 after acquiring an additional 20,890 shares during the period. Healthcare of Ontario Pension Plan Trust Fund grew its holdings in shares of Golar LNG by 467.9% during the third quarter. Healthcare of Ontario Pension Plan Trust Fund now owns 2,237,000 shares of the shipping company’s stock valued at $82,232,000 after purchasing an additional 1,843,100 shares during the last quarter. Murchinson Ltd. acquired a new stake in shares of Golar LNG during the 2nd quarter worth approximately $1,301,000. Finally, Royce & Associates LP lifted its holdings in shares of Golar LNG by 102.5% in the 3rd quarter. Royce & Associates LP now owns 81,000 shares of the shipping company’s stock worth $2,978,000 after purchasing an additional 41,000 shares during the last quarter. Institutional investors and hedge funds 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.