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

Shares of Golar LNG Limited (NASDAQ:GLNG) have been given a consensus rating of “Buy” by the six ratings firms that are covering the company, MarketBeat reports. One equities research analyst has rated the stock with a hold recommendation, four have assigned a buy recommendation and one has assigned a strong buy recommendation to the company. The average 1-year target price among brokers that have covered the stock in the last year is $50.13.

GLNG has been the subject of a number of analyst reports. DNB Markets cut Golar LNG from a “buy” rating to a “hold” rating in a research report on Wednesday, February 19th. Stifel Nicolaus increased their target price 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. StockNews.com raised shares of Golar LNG to a “sell” rating in a report on Thursday, March 20th. Finally, Fearnley Fonds raised shares of Golar LNG from a “hold” rating to a “strong-buy” rating in a research note on Wednesday, March 19th.

Institutional Investors Weigh In On Golar LNG

Several institutional investors and hedge funds have recently modified their holdings of the stock. Barclays PLC increased its holdings in Golar LNG by 431.3% in the 3rd quarter. Barclays PLC now owns 185,018 shares of the shipping company’s stock valued at $6,802,000 after acquiring an additional 150,195 shares during the last quarter. JPMorgan Chase & Co. grew its stake in shares of Golar LNG by 37.0% in the 3rd quarter. JPMorgan Chase & Co. now owns 218,971 shares of the shipping company’s stock worth $8,049,000 after buying an additional 59,188 shares in the last quarter. Raymond James Financial Inc. bought a new stake in Golar LNG during the fourth quarter worth approximately $310,000. Zweig DiMenna Associates LLC purchased a new stake in Golar LNG during the 4th quarter valued at $2,391,000. Finally, Savant Capital LLC purchased a new position in Golar LNG during the fourth quarter worth $270,000. Institutional investors own 92.21% of the company’s stock.

Golar LNG Price Performance

Shares of GLNG stock opened at $37.32 on Monday. Golar LNG has a 1 year low of $24.42 and a 1 year high of $44.36. The firm has a fifty day moving average price of $36.87 and a 200-day moving average price of $38.75. The company has a market cap of $3.90 billion, a price-to-earnings ratio of 266.59 and a beta of 0.47.

Golar LNG Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Tuesday, March 18th. Shareholders of record on Tuesday, March 11th were paid 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 2.68%. Golar LNG’s payout ratio is 208.33%.

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.