Golar LNG (NASDAQ:GLNG) Upgraded at Fearnley Fonds

Fearnley Fonds upgraded shares of Golar LNG (NASDAQ:GLNG - Free Report) from a hold rating to a strong-buy rating in a research report released on Wednesday morning,Zacks.com reports.

GLNG has been the topic of a number of other research reports. StockNews.com upgraded Golar LNG to a "sell" rating in a research report on Thursday, March 20th. 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. Finally, DNB Markets cut Golar LNG from a "buy" rating to a "hold" rating in a report on Wednesday, February 19th. One investment analyst has rated the stock with a sell rating, one has issued a hold rating, four have issued a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat.com, the company presently has an average rating of "Moderate Buy" and an average price target of $50.13.

Golar LNG Stock Performance

Shares of NASDAQ GLNG traded down $0.32 during midday trading on Wednesday, reaching $40.35. The company's stock had a trading volume of 1,579,481 shares, compared to its average volume of 1,227,619. The company has a market cap of $4.21 billion, a P/E ratio of 288.23 and a beta of 0.78. The business's 50 day moving average price is $38.83 and its two-hundred day moving average price is $38.51. 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 announced a quarterly dividend, which was paid on Tuesday, March 18th. Shareholders of record on Tuesday, March 11th were given a $0.25 dividend. The ex-dividend date of this dividend was Tuesday, March 11th. This represents a $1.00 annualized dividend and a yield of 2.48%. Golar LNG's dividend payout ratio is presently 208.33%.

Institutional Investors Weigh In On Golar LNG

A number of institutional investors have recently added to or reduced their stakes in GLNG. Barclays PLC increased its position in Golar LNG by 431.3% during the 3rd quarter. Barclays PLC now owns 185,018 shares of the shipping company's stock valued at $6,802,000 after purchasing an additional 150,195 shares during the period. De Lisle Partners LLP raised its stake in shares of Golar LNG by 9.1% in the third quarter. De Lisle Partners LLP now owns 249,390 shares of the shipping company's stock worth $9,169,000 after purchasing an additional 20,890 shares during the last quarter. Healthcare of Ontario Pension Plan Trust Fund boosted 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 worth $82,232,000 after acquiring an additional 1,843,100 shares during the last quarter. JPMorgan Chase & Co. increased its stake in Golar LNG by 37.0% in the 3rd quarter. JPMorgan Chase & Co. now owns 218,971 shares of the shipping company's stock valued at $8,049,000 after buying an additional 59,188 shares during the last quarter. Finally, Stifel Financial Corp grew its holdings in shares of Golar LNG by 21.8% in the third quarter. Stifel Financial Corp now owns 639,813 shares of the shipping company's stock valued at $23,520,000 after acquiring an additional 114,531 shares in the last quarter. 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.