Brokerages Set Golar LNG Limited (NASDAQ:GLNG) Target Price at $49.70

Shares of Golar LNG Limited (NASDAQ:GLNG) have been given an average recommendation of “Buy” by the seven ratings firms that are covering the company, MarketBeat.com reports. Five analysts have rated the stock with a buy recommendation and two have issued a strong buy recommendation on the company. The average 12-month target price among brokerages that have issued ratings on the stock in the last year is $49.70.

GLNG has been the topic of several recent analyst reports. StockNews.com raised Golar LNG to a “sell” rating in a research note on Thursday, March 20th. Fearnley Fonds raised Golar LNG from a “hold” rating to a “strong-buy” rating in a research note on Wednesday, March 19th. Dnb Nor Markets raised Golar LNG from a “hold” rating to a “strong-buy” rating in a research note on Tuesday, April 22nd. Finally, DNB Markets upgraded Golar LNG from a “hold” rating to a “buy” rating and set a $48.00 price objective for the company in a report on Tuesday, April 22nd.

Golar LNG Stock Performance

Shares of GLNG opened at $37.87 on Friday. Golar LNG has a 52-week low of $25.33 and a 52-week high of $44.36. The business’s 50 day moving average price is $36.93 and its two-hundred day moving average price is $38.94. The firm has a market cap of $3.96 billion, a PE ratio of 270.52 and a beta of 0.62.

Golar LNG Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, March 18th. Stockholders of record on Tuesday, March 11th were issued a dividend of $0.25 per share. The ex-dividend date of this dividend was Tuesday, March 11th. This represents a $1.00 annualized dividend and a dividend yield of 2.64%. Golar LNG’s dividend payout ratio is 208.33%.

Institutional Investors Weigh In On Golar LNG

Hedge funds and other institutional investors have recently modified their holdings of the company. Hexagon Capital Partners LLC increased its holdings in shares of Golar LNG by 358.9% during the first quarter. Hexagon Capital Partners LLC now owns 647 shares of the shipping company’s stock valued at $25,000 after acquiring an additional 506 shares in the last quarter. USA Financial Formulas bought a new position in Golar LNG during the 4th quarter valued at $61,000. Bank Julius Baer & Co. Ltd Zurich bought a new position in Golar LNG during the 4th quarter valued at $107,000. Blue Trust Inc. boosted its holdings in Golar LNG by 116.8% during the 4th quarter. Blue Trust Inc. now owns 2,975 shares of the shipping company’s stock worth $126,000 after acquiring an additional 1,603 shares during the last quarter. Finally, J.Safra Asset Management Corp purchased a new position in Golar LNG during the 4th quarter worth $141,000. Institutional investors own 92.21% of the company’s stock.

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.