Golar LNG (NASDAQ:GLNG) Sees Large Volume Increase - Here's Why

Golar LNG Limited (NASDAQ:GLNG - Get Free Report) shares saw unusually-strong trading volume on Monday . Approximately 2,265,243 shares were traded during mid-day trading, an increase of 86% from the previous session's volume of 1,219,820 shares.The stock last traded at $40.02 and had previously closed at $37.76.

Analyst Ratings Changes

A number of brokerages recently issued reports on GLNG. StockNews.com upgraded shares of Golar LNG to a "sell" rating in a research note on Thursday, March 20th. Stifel Nicolaus lifted their price objective on shares of Golar LNG from $53.00 to $55.00 and gave the stock a "buy" rating in a research report on Tuesday, December 24th. Fearnley Fonds upgraded shares of Golar LNG from a "hold" rating to a "strong-buy" rating in a research note on Wednesday, March 19th. Finally, DNB Markets cut Golar LNG from a "buy" rating to a "hold" rating in a research note on Wednesday, February 19th. One investment analyst has rated the stock with a sell rating, one has issued a hold rating, four have assigned a buy rating and one has issued a strong buy rating to the company's stock. Based on data from MarketBeat.com, the stock has an average rating of "Moderate Buy" and a consensus target price of $50.13.

Golar LNG Stock Performance

The stock's 50-day moving average is $38.71 and its 200 day moving average is $38.59. The stock has a market capitalization of $3.96 billion, a PE ratio of 270.63 and a beta of 0.78.

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 issued a dividend of $0.25 per share. This represents a $1.00 annualized dividend and a dividend yield of 2.64%. The ex-dividend date was Tuesday, March 11th. Golar LNG's payout ratio is 208.33%.

Institutional Trading of Golar LNG

Several institutional investors and hedge funds have recently made changes to their positions in GLNG. Public Employees Retirement System of Ohio purchased a new position in Golar LNG during the 3rd quarter worth approximately $32,000. USA Financial Formulas acquired a new position in shares of Golar LNG in the 4th quarter valued at $61,000. Bank Julius Baer & Co. Ltd Zurich purchased a new stake in Golar LNG in the 4th quarter valued at $107,000. Blue Trust Inc. boosted 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 worth $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 worth $141,000. 92.21% of the stock is owned by hedge funds and other institutional investors.

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.