Brokerages Set Golar LNG Limited (NASDAQ:GLNG) Target Price at $50.42

Golar LNG Limited (NASDAQ:GLNG) has been given a consensus rating of “Moderate Buy” by the ten research firms that are presently covering the firm, Marketbeat reports. One equities research analyst has rated the stock with a sell recommendation, two have issued a hold recommendation, four have assigned a buy recommendation and three have given a strong buy recommendation to the company. The average 1 year target price among brokerages that have issued ratings on the stock in the last year is $50.4167.

A number of brokerages have recently weighed in on GLNG. B. Riley reissued a “neutral” rating and set a $44.50 price target on shares of Golar LNG in a research report on Monday, August 25th. The Goldman Sachs Group initiated coverage on Golar LNG in a research note on Monday, September 29th. They set a “buy” rating and a $54.00 price objective on the stock. Citigroup initiated coverage on Golar LNG in a research note on Friday, October 10th. They issued a “buy” rating and a $51.00 target price for the company. Wall Street Zen upgraded Golar LNG from a “sell” rating to a “hold” rating in a report on Saturday, November 22nd. Finally, BTIG Research reaffirmed a “buy” rating and set a $50.00 price target on shares of Golar LNG in a research report on Wednesday, November 5th.

Golar LNG Stock Up 1.1%

Golar LNG stock opened at $36.83 on Tuesday. The firm has a market capitalization of $3.85 billion, a price-to-earnings ratio of -526.07 and a beta of 0.29. The company’s 50 day simple moving average is $38.88 and its 200 day simple moving average is $40.42. The company has a debt-to-equity ratio of 0.63, a current ratio of 1.47 and a quick ratio of 0.85. Golar LNG has a fifty-two week low of $29.56 and a fifty-two week high of $45.98.

Golar LNG Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Monday, November 24th. Shareholders of record on Monday, November 17th were issued a dividend of $0.25 per share. This represents a $1.00 annualized dividend and a yield of 2.7%. The ex-dividend date was Monday, November 17th. Golar LNG’s dividend payout ratio (DPR) is 175.44%.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently made changes to their positions in GLNG. Rubric Capital Management LP raised its holdings in shares of Golar LNG by 2.3% during the second quarter. Rubric Capital Management LP now owns 9,178,978 shares of the shipping company’s stock worth $378,082,000 after acquiring an additional 203,829 shares during the period. Encompass Capital Advisors LLC increased its holdings in Golar LNG by 73.8% during the 1st quarter. Encompass Capital Advisors LLC now owns 2,276,083 shares of the shipping company’s stock worth $86,468,000 after purchasing an additional 966,692 shares in the last quarter. Cartenna Capital LP raised its stake in shares of Golar LNG by 13.2% in the 3rd quarter. Cartenna Capital LP now owns 1,925,000 shares of the shipping company’s stock valued at $77,789,000 after purchasing an additional 225,000 shares during the period. State Street Corp raised its stake in shares of Golar LNG by 1.4% in the 2nd quarter. State Street Corp now owns 1,914,741 shares of the shipping company’s stock valued at $78,868,000 after purchasing an additional 26,838 shares during the period. Finally, Appian Way Asset Management LP lifted its holdings in shares of Golar LNG by 34.8% in the third quarter. Appian Way Asset Management LP now owns 1,633,582 shares of the shipping company’s stock valued at $66,013,000 after purchasing an additional 421,375 shares in 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.