Golar LNG Limited (NASDAQ:GLNG) Receives $50.13 Average Price Target from Brokerages

Golar LNG Limited (NASDAQ:GLNG) has been assigned a consensus rating of “Buy” from the six brokerages that are covering the stock, Marketbeat.com reports. One investment analyst has rated the stock with a hold recommendation, four have given a buy recommendation and one has issued a strong buy recommendation on the company. The average twelve-month price target among analysts that have issued ratings on the stock in the last year is $50.13.

GLNG has been the topic of several recent research reports. StockNews.com raised shares of Golar LNG to a “sell” rating in a research report on Thursday. DNB Markets lowered shares of Golar LNG from a “buy” rating to a “hold” rating in a research report on Wednesday, February 19th. Fearnley Fonds raised shares of Golar LNG from a “hold” rating to a “strong-buy” rating in a research report on Wednesday. Finally, Stifel Nicolaus raised their price objective on shares of Golar LNG from $53.00 to $55.00 and gave the company a “buy” rating in a research report on Tuesday, December 24th.

Golar LNG Stock Performance

Shares of GLNG opened at $37.76 on Thursday. The firm has a market cap of $3.94 billion, a PE ratio of 269.73 and a beta of 0.78. The firm’s 50 day moving average price is $38.85 and its 200 day moving average price is $38.41. Golar LNG has a twelve month low of $23.45 and a twelve month high of $44.36.

Golar LNG Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Tuesday, March 18th. Stockholders of record on Tuesday, March 11th were given a $0.25 dividend. This represents a $1.00 dividend on an annualized basis and a dividend yield of 2.65%. The ex-dividend date was Tuesday, March 11th. Golar LNG’s dividend payout ratio is 208.33%.

Hedge Funds Weigh In On Golar LNG

A number of institutional investors have recently modified their holdings of GLNG. Naria Inc. bought a new position in shares of Golar LNG in the fourth quarter valued at approximately $435,226,000. Healthcare of Ontario Pension Plan Trust Fund grew its stake in shares of Golar LNG by 467.9% in the third 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. Millennium Management LLC grew its stake in shares of Golar LNG by 49.2% in the fourth 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 last quarter. Encompass Capital Advisors LLC acquired a new stake in shares of Golar LNG in the fourth quarter worth $55,413,000. Finally, Clearline Capital LP acquired a new stake in shares of Golar LNG in the third quarter worth $36,865,000. 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.