Golar LNG (NASDAQ:GLNG) Shares Gap Up - What's Next?

Golar LNG Limited (NASDAQ:GLNG - Get Free Report)'s share price gapped up before the market opened on Wednesday . The stock had previously closed at $35.04, but opened at $36.21. Golar LNG shares last traded at $36.83, with a volume of 90,093 shares traded.

Analysts Set New Price Targets

Several research analysts recently weighed in on GLNG shares. Stifel Nicolaus boosted their price target on shares of Golar LNG from $53.00 to $55.00 and gave the stock a "buy" rating in a report on Tuesday, December 24th. Fearnley Fonds raised shares of Golar LNG from a "hold" rating to a "strong-buy" rating in a research report on Wednesday. StockNews.com raised shares of Golar LNG to a "sell" rating in a research report on Thursday. Finally, DNB Markets lowered shares of Golar LNG from a "buy" rating to a "hold" rating in a research report on Wednesday, February 19th. One analyst has rated the stock with a sell rating, one has assigned a hold rating, four have issued a buy rating and one has given a strong buy rating to the stock. According to MarketBeat.com, the stock has a consensus rating of "Moderate Buy" and a consensus target price of $50.13.

Golar LNG Stock Down 1.4 %

The firm's 50-day moving average price is $38.85 and its 200-day moving average price is $38.45. The company has a market cap of $3.94 billion, a P/E ratio of 269.73 and a beta of 0.78.

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Golar LNG Announces Dividend

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

Institutional Investors Weigh In On Golar LNG

A number of institutional investors have recently made changes to their positions in the business. Intech Investment Management LLC bought a new stake in Golar LNG during the 3rd quarter valued at $1,165,000. Quantbot Technologies LP bought a new stake in Golar LNG during the 3rd quarter valued at $3,981,000. BNP Paribas Financial Markets raised its holdings in Golar LNG by 5.4% during the 3rd quarter. BNP Paribas Financial Markets now owns 26,694 shares of the shipping company's stock valued at $981,000 after buying an additional 1,360 shares during the last quarter. Healthcare of Ontario Pension Plan Trust Fund raised its holdings in Golar LNG by 467.9% during the 3rd quarter. Healthcare of Ontario Pension Plan Trust Fund now owns 2,237,000 shares of the shipping company's stock valued at $82,232,000 after buying an additional 1,843,100 shares during the last quarter. Finally, De Lisle Partners LLP raised its holdings in Golar LNG by 9.1% during the 3rd quarter. De Lisle Partners LLP now owns 249,390 shares of the shipping company's stock valued at $9,169,000 after buying an additional 20,890 shares during the last quarter. Hedge funds and other institutional investors 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.