Golar LNG Target of Unusually High Options Trading (NASDAQ:GLNG)

Golar LNG Limited (NASDAQ:GLNG) saw unusually large options trading on Wednesday. Stock traders bought 7,962 call options on the company. This represents an increase of 120% compared to the average volume of 3,614 call options.

Analysts Set New Price Targets

Several equities analysts recently weighed in on GLNG shares. Wall Street Zen upgraded shares of Golar LNG from a “sell” rating to a “hold” rating in a research report on Saturday. Zacks Research upgraded shares of Golar LNG from a “strong sell” rating to a “hold” rating in a research note on Monday, January 5th. Weiss Ratings reissued a “hold (c+)” rating on shares of Golar LNG in a research report on Monday, December 29th. BTIG Research raised their price target on shares of Golar LNG from $50.00 to $53.00 and gave the stock a “buy” rating in a research note on Wednesday, February 25th. Finally, The Goldman Sachs Group set a $56.00 price target on shares of Golar LNG in a report on Monday, February 2nd. Two analysts have rated the stock with a Strong Buy rating, three have given a Buy rating and three have given a Hold rating to the company. According to data from MarketBeat, Golar LNG presently has an average rating of “Moderate Buy” and an average price target of $50.50.

Institutional Investors Weigh In On Golar LNG

Several institutional investors have recently made changes to their positions in the stock. Amundi grew its position in shares of Golar LNG by 29.6% in the first quarter. Amundi now owns 19,586 shares of the shipping company’s stock valued at $744,000 after purchasing an additional 4,468 shares in the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. boosted its stake in Golar LNG by 4.6% in the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 58,915 shares of the shipping company’s stock worth $2,238,000 after purchasing an additional 2,572 shares during the period. Legal & General Group Plc boosted its stake in Golar LNG by 2.8% in the 2nd quarter. Legal & General Group Plc now owns 17,100 shares of the shipping company’s stock worth $704,000 after purchasing an additional 459 shares during the period. Franklin Resources Inc. grew its holdings in Golar LNG by 9.2% during the 2nd quarter. Franklin Resources Inc. now owns 13,825 shares of the shipping company’s stock valued at $569,000 after buying an additional 1,167 shares in the last quarter. Finally, Rhumbline Advisers grew its holdings in Golar LNG by 4.0% during the 2nd quarter. Rhumbline Advisers now owns 156,901 shares of the shipping company’s stock valued at $6,463,000 after buying an additional 5,986 shares in the last quarter. Hedge funds and other institutional investors own 92.21% of the company’s stock.

Golar LNG Stock Performance

NASDAQ GLNG traded down $0.56 during trading on Wednesday, hitting $53.55. 997,094 shares of the company’s stock traded hands, compared to its average volume of 1,994,566. The company has a debt-to-equity ratio of 1.19, a quick ratio of 2.55 and a current ratio of 2.55. The stock has a market capitalization of $5.43 billion, a price-to-earnings ratio of 83.57 and a beta of 0.18. Golar LNG has a 12-month low of $29.56 and a 12-month high of $55.80. The business has a 50 day moving average of $45.37 and a 200-day moving average of $40.96.

Golar LNG (NASDAQ:GLNG) last posted its earnings results on Saturday, February 14th. The shipping company reported $0.09 earnings per share for the quarter. The firm had revenue of $132.81 million during the quarter. Golar LNG had a net margin of 16.69% and a return on equity of 6.24%. As a group, equities research analysts anticipate that Golar LNG will post 1.39 earnings per share for the current fiscal year.

Golar LNG Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Wednesday, March 18th. Investors of record on Monday, March 9th were paid a $0.25 dividend. This represents a $1.00 dividend on an annualized basis and a yield of 1.9%. The ex-dividend date was Monday, March 9th. Golar LNG’s payout ratio is currently 156.25%.

Golar LNG Company Profile

Golar LNG Ltd. is a leading owner and operator of liquefied natural gas (LNG) carriers and floating infrastructure. The company specializes in the transportation of LNG on long-term and spot charters for major energy firms around the world. In addition to shipping, Golar LNG has broadened its services to include project development and the conversion of existing carriers into Floating Liquefied Natural Gas (FLNG) and Floating Storage and Regasification Unit (FSRU) vessels.

Since pioneering the first purpose-built FLNG conversion project, Golar LNG has been at the forefront of offshore gas monetization.