Golar LNG (NASDAQ:GLNG) Sets New 12-Month High – Time to Buy?

by · The Markets Daily

Golar LNG Limited (NASDAQ:GLNG – Get Free Report)’s share price hit a new 52-week high during trading on Monday . The stock traded as high as $40.57 and last traded at $39.42, with a volume of 408549 shares changing hands. The stock had previously closed at $36.92.

Analyst Ratings Changes

Several brokerages have commented on GLNG. Fearnley Fonds downgraded Golar LNG from a “strong-buy” rating to a “hold” rating in a research report on Wednesday, November 13th. StockNews.com raised Golar LNG to a “sell” rating in a research report on Wednesday, November 13th. Stifel Nicolaus cut their price objective on Golar LNG from $55.00 to $53.00 and set a “buy” rating on the stock in a research report on Friday, August 16th. Finally, Deutsche Bank Aktiengesellschaft increased their price target on Golar LNG from $43.00 to $56.00 and gave the stock a “buy” rating in a research report on Friday, August 16th. One equities research analyst has rated the stock with a sell rating, one has assigned a hold rating and four have given a buy rating to the stock. Based on data from MarketBeat.com, Golar LNG has an average rating of “Moderate Buy” and an average target price of $49.63.

Check Out Our Latest Research Report on GLNG

Golar LNG Stock Up 11.5 %

The company has a current ratio of 1.24, a quick ratio of 1.28 and a debt-to-equity ratio of 0.31. The business has a 50-day moving average price of $36.69 and a 200-day moving average price of $32.93. The firm has a market cap of $4.30 billion, a P/E ratio of 284.64 and a beta of 0.58.

Golar LNG Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Monday, December 2nd. Investors of record on Monday, November 25th will be given a dividend of $0.25 per share. This represents a $1.00 dividend on an annualized basis and a yield of 2.43%. The ex-dividend date of this dividend is Monday, November 25th. Golar LNG’s payout ratio is currently 714.29%.

Institutional Investors Weigh In On Golar LNG

A number of institutional investors have recently added to or reduced their stakes in the stock. Barclays PLC boosted its position in Golar LNG by 431.3% during the third quarter. Barclays PLC now owns 185,018 shares of the shipping company’s stock valued at $6,802,000 after purchasing an additional 150,195 shares in the last quarter. Public Employees Retirement System of Ohio bought a new stake in Golar LNG during the third quarter valued at about $32,000. Luxor Capital Group LP bought a new stake in Golar LNG during the third quarter valued at about $10,286,000. Brookfield Corp ON boosted its position in Golar LNG by 180.8% during the third quarter. Brookfield Corp ON now owns 849,959 shares of the shipping company’s stock valued at $31,244,000 after purchasing an additional 547,253 shares in the last quarter. Finally, State Street Corp raised its stake in Golar LNG by 5.2% in the third quarter. State Street Corp now owns 1,920,590 shares of the shipping company’s stock valued at $70,601,000 after buying an additional 94,336 shares during the last quarter. Institutional investors own 92.21% of the company’s stock.

About Golar LNG

(Get Free Report)

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.

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