Brokerages Set Golar LNG Limited (NASDAQ:GLNG) Target Price at $49.63

Shares of Golar LNG Limited (NASDAQ:GLNG - Get Free Report) have been given a consensus recommendation of "Moderate Buy" by the five ratings firms that are currently covering the firm, MarketBeat Ratings reports. One investment analyst has rated the stock with a hold rating and four have assigned a buy rating to the company. The average twelve-month price objective among brokers that have updated their coverage on the stock in the last year is $49.63.

GLNG has been the subject of several recent research reports. Fearnley Fonds cut Golar LNG from a "strong-buy" rating to a "hold" rating in a research report on Wednesday. Deutsche Bank Aktiengesellschaft upped their price objective on Golar LNG from $43.00 to $56.00 and gave the stock a "buy" rating in a research report on Friday, August 16th. Stifel Nicolaus reduced their price objective on Golar LNG from $55.00 to $53.00 and set a "buy" rating for the company in a research report on Friday, August 16th. StockNews.com raised Golar LNG to a "sell" rating in a research report on Wednesday. Finally, B. Riley increased their price target on Golar LNG from $35.50 to $44.50 and gave the company a "buy" rating in a research report on Friday, July 19th.

Golar LNG Trading Down 2.8 %

Shares of Golar LNG stock traded down $0.99 during trading hours on Friday, hitting $34.00. The company's stock had a trading volume of 1,128,452 shares, compared to its average volume of 1,193,066. Golar LNG has a 12 month low of $19.94 and a 12 month high of $39.40. The stock has a 50 day moving average of $36.19 and a 200 day moving average of $32.38. The company has a market capitalization of $3.55 billion, a PE ratio of 25.37 and a beta of 0.58. The company has a debt-to-equity ratio of 0.31, a current ratio of 1.24 and a quick ratio of 1.28.

Golar LNG (NASDAQ:GLNG - Get Free Report) last posted its quarterly earnings data on Thursday, August 15th. The shipping company reported $0.42 earnings per share for the quarter, missing the consensus estimate of $0.44 by ($0.02). The firm had revenue of $62.98 million for the quarter, compared to analyst estimates of $67.38 million. Golar LNG had a return on equity of 9.20% and a net margin of 50.89%. Analysts predict that Golar LNG will post 1.53 earnings per share for the current year.

Golar LNG Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, December 2nd. Stockholders of record on Monday, November 25th will be given a $0.25 dividend. The ex-dividend date is Monday, November 25th. This represents a $1.00 dividend on an annualized basis and a dividend yield of 2.94%. Golar LNG's payout ratio is 74.63%.

Institutional Trading of Golar LNG

Hedge funds have recently made changes to their positions in the business. Public Employees Retirement System of Ohio acquired a new stake in shares of Golar LNG in the third quarter valued at approximately $32,000. Blue Trust Inc. lifted its position in shares of Golar LNG by 105.1% in the third quarter. Blue Trust Inc. now owns 1,372 shares of the shipping company's stock valued at $50,000 after buying an additional 703 shares during the last quarter. Sound Income Strategies LLC acquired a new stake in shares of Golar LNG in the third quarter valued at approximately $52,000. Lowe Wealth Advisors LLC acquired a new stake in shares of Golar LNG in the second quarter valued at approximately $45,000. Finally, CWM LLC increased its stake in shares of Golar LNG by 830.9% during the third quarter. CWM LLC now owns 1,657 shares of the shipping company's stock worth $61,000 after purchasing an additional 1,479 shares during the period. 92.21% of the stock is owned by institutional investors and hedge funds.

Golar LNG Company Profile

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.