Golar LNG (NASDAQ:GLNG) Shares Cross Above 200 Day Moving Average – Time to Sell?

Golar LNG Limited (NASDAQ:GLNG) passed above its 200-day moving average during trading on Thursday . The stock has a 200-day moving average of $39.64 and traded as high as $41.99. Golar LNG shares last traded at $40.99, with a volume of 952,855 shares trading hands.

Analyst Upgrades and Downgrades

A number of research analysts have recently weighed in on GLNG shares. BTIG Research restated a “buy” rating and set a $50.00 price objective on shares of Golar LNG in a research report on Wednesday, November 5th. Citigroup assumed coverage on Golar LNG in a report on Friday, October 10th. They set a “buy” rating and a $51.00 price target for the company. Weiss Ratings reaffirmed a “hold (c+)” rating on shares of Golar LNG in a report on Monday, December 29th. Zacks Research raised shares of Golar LNG from a “strong sell” rating to a “hold” rating in a report on Monday, January 5th. Finally, Wall Street Zen cut shares of Golar LNG from a “hold” rating to a “sell” rating in a research report on Saturday, December 20th. Three 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’s stock. According to data from MarketBeat.com, the company currently has an average rating of “Buy” and a consensus target price of $49.50.

Golar LNG Trading Down 1.0%

The stock has a fifty day moving average of $38.25 and a 200-day moving average of $39.64. The company has a market cap of $4.24 billion, a PE ratio of 71.21 and a beta of 0.18. The company has a debt-to-equity ratio of 0.61, a quick ratio of 1.32 and a current ratio of 1.32.

Golar LNG Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Monday, November 24th. Shareholders of record on Monday, November 17th were given a $0.25 dividend. This represents a $1.00 annualized dividend and a yield of 2.5%. The ex-dividend date of this dividend was Monday, November 17th. Golar LNG’s payout ratio is 175.44%.

Institutional Investors Weigh In On Golar LNG

A number of institutional investors and hedge funds have recently bought and sold shares of GLNG. Danske Bank A S purchased a new position in shares of Golar LNG in the 3rd quarter valued at $56,574,000. Adage Capital Partners GP L.L.C. bought a new stake in Golar LNG during the second quarter valued at about $24,714,000. Appian Way Asset Management LP grew its stake in 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 during the last quarter. Two Seas Capital LP raised its holdings in Golar LNG by 76.2% in the second quarter. Two Seas Capital LP now owns 909,355 shares of the shipping company’s stock worth $37,456,000 after purchasing an additional 393,406 shares in the last quarter. Finally, Canada Pension Plan Investment Board lifted its position in shares of Golar LNG by 153.1% during the second quarter. Canada Pension Plan Investment Board now owns 602,434 shares of the shipping company’s stock valued at $24,814,000 after buying an additional 364,421 shares during the last quarter. 92.21% of the stock is owned by institutional investors.

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.