Golar LNG Limited (NASDAQ:GLNG) Receives Average Recommendation of "Buy" from Brokerages

Shares of Golar LNG Limited (NASDAQ:GLNG - Get Free Report) have been given an average recommendation of "Buy" by the six research firms that are presently covering the company, MarketBeat.com reports. One equities 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 1-year price objective among analysts that have covered the stock in the last year is $50.13.

GLNG has been the topic of several recent analyst reports. Stifel Nicolaus boosted their target price on Golar LNG from $53.00 to $55.00 and gave the stock a "buy" rating in a report on Tuesday, December 24th. DNB Markets cut Golar LNG from a "buy" rating to a "hold" rating in a research report on Wednesday, February 19th. StockNews.com upgraded Golar LNG to a "sell" rating in a report on Thursday. Finally, Fearnley Fonds raised Golar LNG from a "hold" rating to a "strong-buy" rating in a report on Wednesday.

Golar LNG Trading Down 1.4 %

GLNG traded down $0.54 on Thursday, reaching $37.76. The company had a trading volume of 2,166,858 shares, compared to its average volume of 1,214,555. The company has a market capitalization of $3.94 billion, a P/E ratio of 269.73 and a beta of 0.78. The company has a fifty day moving average of $38.85 and a 200-day moving average of $38.41. Golar LNG has a one year low of $23.45 and a one year high of $44.36.

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Golar LNG Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Tuesday, March 18th. Investors of record on Tuesday, March 11th were issued a $0.25 dividend. This represents a $1.00 dividend on an annualized basis and a dividend yield of 2.65%. The ex-dividend date of this dividend was Tuesday, March 11th. Golar LNG's payout ratio is 208.33%.

Institutional Investors Weigh In On Golar LNG

Hedge funds have recently modified their holdings of the stock. Public Employees Retirement System of Ohio acquired a new position in shares of Golar LNG in the third quarter worth about $32,000. USA Financial Formulas acquired a new position in Golar LNG in the 4th quarter worth approximately $61,000. Bank Julius Baer & Co. Ltd Zurich purchased a new position in Golar LNG during the 4th quarter worth approximately $107,000. Blue Trust Inc. raised its stake in Golar LNG by 116.8% during the 4th quarter. Blue Trust Inc. now owns 2,975 shares of the shipping company's stock valued at $126,000 after purchasing an additional 1,603 shares during the period. Finally, J.Safra Asset Management Corp acquired a new stake in Golar LNG during the 4th quarter valued at $141,000. 92.21% of the stock is owned by hedge funds and other institutional investors.

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.