Golar LNG (NASDAQ:GLNG) Reaches New 52-Week High - Here's What Happened

Golar LNG Limited (NASDAQ:GLNG - Get Free Report) shares reached a new 52-week high on Thursday . The stock traded as high as $44.09 and last traded at $43.98, with a volume of 236786 shares trading hands. The stock had previously closed at $42.32.

Analysts Set New Price Targets

Several brokerages have recently issued reports on GLNG. Stifel Nicolaus raised their price objective on shares of Golar LNG from $53.00 to $55.00 and gave the stock a "buy" rating in a research note on Tuesday, December 24th. Fearnley Fonds downgraded shares of Golar LNG from a "strong-buy" rating to a "hold" rating in a report on Wednesday, November 13th. Finally, StockNews.com raised Golar LNG to a "sell" rating in a research report on Monday, December 9th. One equities research analyst has rated the stock with a sell rating, one has issued a hold rating and four have given a buy rating to the company. Based on data from MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and an average target price of $50.13.

Golar LNG Stock Performance

The company has a current ratio of 1.55, a quick ratio of 1.28 and a debt-to-equity ratio of 0.41. The firm has a market capitalization of $4.58 billion, a price-to-earnings ratio of 313.17 and a beta of 0.61. The stock has a fifty day moving average price of $39.48 and a 200-day moving average price of $35.86.

Golar LNG Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Monday, December 2nd. Stockholders of record on Monday, November 25th were paid a $0.25 dividend. The ex-dividend date of this dividend was Monday, November 25th. This represents a $1.00 annualized dividend and a dividend yield of 2.28%. Golar LNG's dividend payout ratio is presently 714.29%.

Institutional Investors Weigh In On Golar LNG

A number of hedge funds have recently made changes to their positions in GLNG. Public Employees Retirement System of Ohio bought a new stake in Golar LNG during the third quarter worth about $32,000. Blue Trust Inc. boosted its holdings in shares of Golar LNG by 105.1% in the 3rd quarter. Blue Trust Inc. now owns 1,372 shares of the shipping company's stock worth $50,000 after acquiring an additional 703 shares in the last quarter. Sound Income Strategies LLC bought a new stake in Golar LNG during the 3rd quarter worth approximately $52,000. EverSource Wealth Advisors LLC increased its holdings in Golar LNG by 206.2% during the 2nd quarter. EverSource Wealth Advisors LLC now owns 1,727 shares of the shipping company's stock valued at $54,000 after purchasing an additional 1,163 shares in the last quarter. Finally, CWM LLC raised its position in Golar LNG by 830.9% in the 3rd quarter. CWM LLC now owns 1,657 shares of the shipping company's stock valued at $61,000 after purchasing an additional 1,479 shares during the last quarter. Institutional investors and hedge funds own 92.21% of the company's stock.

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.