Golar LNG Limited (NASDAQ:GLNG) Stock Has Average Price Target of $68.67

Shares of Golar LNG Limited (NASDAQ:GLNG) have earned a consensus rating of “Buy” from the six brokerages that are currently covering the stock, Marketbeat.com reports. One research analyst has rated the stock with a hold rating, four have issued a buy rating and one has given a strong buy rating to the company. The average 12-month target price among analysts that have issued ratings on the stock in the last year is $68.67.

GLNG has been the subject of a number of analyst reports. Weiss Ratings upgraded shares of Golar LNG from a “hold (c+)” rating to a “buy (b-)” rating in a research note on Thursday, October 8th. Pareto Securities upgraded shares of Golar LNG from a “hold” rating to a “buy” rating in a research note on Monday, August 24th. BTIG Research raised their target price on shares of Golar LNG from $70.00 to $75.00 and gave the company a “buy” rating in a research note on Thursday, September 24th. The Goldman Sachs Group set a $66.00 target price on shares of Golar LNG and gave the stock a “conviction-buy” rating in a report on Tuesday, July 7th. Finally, Wall Street Zen downgraded shares of Golar LNG from a “hold” rating to a “sell” rating in a report on Saturday, June 27th.

Golar LNG Stock Performance

Shares of GLNG stock opened at $45.26 on Friday. Golar LNG has a 12 month low of $35.02 and a 12 month high of $57.79. The company has a quick ratio of 2.34, a current ratio of 2.34 and a debt-to-equity ratio of 1.11. The business’s 50 day moving average is $50.44 and its two-hundred day moving average is $51.37. The company has a market cap of $4.59 billion, a PE ratio of 28.29 and a beta of 0.13.

Golar LNG Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Wednesday, September 2nd. Shareholders of record on Monday, August 24th were issued a dividend of $0.25 per share. This represents a $1.00 dividend on an annualized basis and a yield of 2.2%. The ex-dividend date was Monday, August 24th. Golar LNG’s dividend payout ratio is 62.50%.

Institutional Investors Weigh In On Golar LNG

Several hedge funds and other institutional investors have recently made changes to their positions in the business. Verbena Value LP boosted its stake in Golar LNG by 17.0% during the 1st quarter. Verbena Value LP now owns 1,210,402 shares of the shipping company’s stock valued at $65,495,000 after purchasing an additional 175,802 shares during the period. Rokos Capital Management LLP acquired a new stake in Golar LNG in the 1st quarter valued at approximately $63,293,000. Clearline Capital LP grew its holdings in Golar LNG by 172.6% in the 4th quarter. Clearline Capital LP now owns 1,067,153 shares of the shipping company’s stock valued at $39,709,000 after buying an additional 675,744 shares during the last quarter. BROOKFIELD Corp ON grew its holdings in Golar LNG by 12.8% in the 1st quarter. BROOKFIELD Corp ON now owns 789,859 shares of the shipping company’s stock valued at $42,739,000 after buying an additional 89,512 shares during the last quarter. Finally, Healthcare of Ontario Pension Plan Trust Fund increased its position in Golar LNG by 1,114.7% in the 1st quarter. Healthcare of Ontario Pension Plan Trust Fund now owns 554,943 shares of the shipping company’s stock worth $30,028,000 after buying an additional 509,256 shares during the period. 92.21% of the stock is owned by institutional investors and hedge funds.

About Golar LNG

Golar LNG Limited is a Bermuda-based energy infrastructure company focused on the development, ownership and operation of floating liquefied natural gas (FLNG) facilities. The company converts LNG carriers into floating production units that liquefy natural gas offshore, allowing gas resources to be developed without the need for large onshore liquefaction plants.

Golar’s activities include FLNG project development, vessel ownership and operations, and related LNG infrastructure services.