Golar LNG Limited (NASDAQ:GLNG) Receives Consensus Rating of “Buy” from Brokerages

Golar LNG Limited (NASDAQ:GLNG) has received an average rating of “Buy” from the seven brokerages that are currently covering the company, MarketBeat Ratings reports. Five investment analysts have rated the stock with a buy rating and two have given a strong buy rating to the company. The average 12-month price target among brokerages that have covered the stock in the last year is $49.70.

A number of equities research analysts have recently weighed in on GLNG shares. StockNews.com raised shares of Golar LNG to a “sell” rating in a research note on Thursday, March 20th. Fearnley Fonds raised shares of Golar LNG from a “hold” rating to a “strong-buy” rating in a research note on Wednesday, March 19th. DNB Markets raised shares of Golar LNG from a “hold” rating to a “buy” rating and set a $48.00 target price on the stock in a research note on Tuesday, April 22nd. Finally, Dnb Nor Markets raised shares of Golar LNG from a “hold” rating to a “strong-buy” rating in a research note on Tuesday, April 22nd.

Golar LNG Trading Down 2.2%

Shares of GLNG opened at $39.02 on Friday. The firm’s 50-day moving average price is $37.41 and its 200-day moving average price is $38.97. The firm has a market capitalization of $4.08 billion, a price-to-earnings ratio of 278.73 and a beta of 0.62. Golar LNG has a 1-year low of $25.33 and a 1-year high of $44.36.

Golar LNG Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Tuesday, March 18th. Investors of record on Tuesday, March 11th were given a dividend of $0.25 per share. The ex-dividend date of this dividend was Tuesday, March 11th. This represents a $1.00 dividend on an annualized basis and a yield of 2.56%. Golar LNG’s dividend payout ratio (DPR) is currently 208.33%.

Institutional Inflows and Outflows

A number of large investors have recently bought and sold shares of GLNG. Naria Inc. purchased a new position in Golar LNG during the 4th quarter valued at about $435,226,000. Millennium Management LLC lifted its position in Golar LNG by 49.2% during the 4th quarter. Millennium Management LLC now owns 4,638,045 shares of the shipping company’s stock valued at $196,282,000 after acquiring an additional 1,529,884 shares during the period. Encompass Capital Advisors LLC purchased a new position in Golar LNG during the 4th quarter valued at about $55,413,000. Nuveen LLC purchased a new position in Golar LNG in the first quarter worth about $33,975,000. Finally, Jefferies Financial Group Inc. purchased a new position in Golar LNG in the fourth quarter worth about $24,394,000. 92.21% of the stock is owned by hedge funds and other institutional investors.

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.