Golar LNG (NASDAQ:GLNG) Trading Up 5.5% - Time to Buy?

Golar LNG Limited (NASDAQ:GLNG - Get Free Report)'s stock price was up 5.5% during trading on Monday . The company traded as high as $33.89 and last traded at $32.39. Approximately 1,408,032 shares changed hands during mid-day trading, an increase of 7% from the average daily volume of 1,319,462 shares. The stock had previously closed at $30.70.

Wall Street Analysts Forecast Growth

A number of research firms have 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 upped their target price on Golar LNG from $53.00 to $55.00 and gave the stock a "buy" rating in a research report on Tuesday, December 24th. DNB Markets downgraded Golar LNG from a "buy" rating to a "hold" rating in a report on Wednesday, February 19th. Finally, Fearnley Fonds upgraded shares of Golar LNG from a "hold" rating to a "strong-buy" rating in a research note on Wednesday, March 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 given a strong buy rating to the stock. According to MarketBeat, the company presently has a consensus rating of "Moderate Buy" and an average price target of $50.13.

Golar LNG Stock Performance

The company has a market capitalization of $3.90 billion, a P/E ratio of 266.23 and a beta of 0.47. The company has a 50-day simple moving average of $37.14 and a 200 day simple moving average of $38.75.

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Golar LNG Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, March 18th. Stockholders of record on Tuesday, March 11th were given a dividend of $0.25 per share. This represents a $1.00 dividend on an annualized basis and a dividend yield of 2.68%. The ex-dividend date was Tuesday, March 11th. Golar LNG's dividend payout ratio is currently 208.33%.

Institutional Trading of Golar LNG

A number of institutional investors and hedge funds have recently modified their holdings of the company. Naria Inc. acquired a new stake in Golar LNG during the fourth quarter worth $435,226,000. Millennium Management LLC lifted its holdings in shares of Golar LNG by 49.2% during the 4th quarter. Millennium Management LLC now owns 4,638,045 shares of the shipping company's stock worth $196,282,000 after acquiring an additional 1,529,884 shares during the period. State Street Corp boosted its position in shares of Golar LNG by 5.2% during the 3rd quarter. State Street Corp now owns 1,920,590 shares of the shipping company's stock valued at $70,601,000 after acquiring an additional 94,336 shares in the last quarter. Encompass Capital Advisors LLC bought a new stake in Golar LNG in the fourth quarter valued at about $55,413,000. Finally, Vanguard Group Inc. raised its position in Golar LNG by 1.7% in the fourth quarter. Vanguard Group Inc. now owns 1,093,098 shares of the shipping company's stock worth $46,260,000 after purchasing an additional 18,475 shares in the last quarter. 92.21% of the stock is currently owned by 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.