Golar LNG (NASDAQ:GLNG) Upgraded to Sell at StockNews.com

StockNews.com upgraded shares of Golar LNG (NASDAQ:GLNG - Free Report) to a sell rating in a research note issued to investors on Thursday morning.

Other analysts have also issued reports about the company. Stifel Nicolaus lifted their price target on Golar LNG from $53.00 to $55.00 and gave the company a "buy" rating in a research note on Tuesday, December 24th. DNB Markets lowered shares of Golar LNG from a "buy" rating to a "hold" rating in a report on Wednesday, February 19th. One analyst has rated the stock with a sell rating, one has given a hold rating, four have assigned a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and a consensus target price of $50.13.

Golar LNG Trading Up 7.7 %

Golar LNG stock traded up $2.91 during mid-day trading on Thursday, reaching $40.67. The company had a trading volume of 4,484,541 shares, compared to its average volume of 1,227,635. The business has a fifty day simple moving average of $38.83 and a 200 day simple moving average of $38.51. The company has a market cap of $4.25 billion, a P/E ratio of 290.52 and a beta of 0.78. Golar LNG has a fifty-two week low of $23.45 and a fifty-two week high of $44.36.

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Golar LNG Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, March 18th. Shareholders of record on Tuesday, March 11th were paid a $0.25 dividend. The ex-dividend date was Tuesday, March 11th. This represents a $1.00 annualized dividend and a yield of 2.46%. Golar LNG's dividend payout ratio (DPR) is 208.33%.

Hedge Funds Weigh In On Golar LNG

Several institutional investors have recently modified their holdings of GLNG. Summit Investment Advisors Inc. lifted its holdings in Golar LNG by 3.3% during the fourth quarter. Summit Investment Advisors Inc. now owns 10,354 shares of the shipping company's stock worth $438,000 after acquiring an additional 328 shares during the period. Mariner LLC raised its stake in shares of Golar LNG by 7.4% during the 4th quarter. Mariner LLC now owns 5,995 shares of the shipping company's stock worth $254,000 after purchasing an additional 414 shares during the period. Kingswood Wealth Advisors LLC boosted its holdings in shares of Golar LNG by 5.0% in the 4th quarter. Kingswood Wealth Advisors LLC now owns 10,500 shares of the shipping company's stock worth $444,000 after buying an additional 500 shares during the last quarter. Metis Global Partners LLC grew its position in Golar LNG by 9.8% during the fourth quarter. Metis Global Partners LLC now owns 5,996 shares of the shipping company's stock valued at $254,000 after buying an additional 534 shares during the period. Finally, Public Employees Retirement System of Ohio purchased a new stake in Golar LNG during the third quarter worth about $32,000. 92.21% of the stock is owned by 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.