Golar LNG Limited (NASDAQ:GLNG)’s share price was up 6% during trading on Wednesday . The company traded as high as $25.02 and last traded at $24.94. Approximately 1,241,445 shares were traded during mid-day trading, a decline of 5% from the average daily volume of 1,308,893 shares. The stock had previously closed at $23.53.
A number of equities analysts recently commented on GLNG shares. Zacks Investment Research cut shares of Golar LNG from a “hold” rating to a “sell” rating in a research report on Tuesday, August 14th. BidaskClub upgraded shares of Golar LNG from a “buy” rating to a “strong-buy” rating in a research report on Saturday, November 3rd. Jefferies Financial Group set a $40.00 target price on shares of Golar LNG and gave the stock a “buy” rating in a research report on Wednesday, August 22nd. Deutsche Bank assumed coverage on shares of Golar LNG in a research report on Wednesday, October 10th. They issued a “buy” rating and a $36.00 price objective on the stock. Finally, Wolfe Research assumed coverage on shares of Golar LNG in a research report on Tuesday, November 13th. They issued an “outperform” rating on the stock. One investment analyst has rated the stock with a hold rating and thirteen have given a buy rating to the stock. Golar LNG has a consensus rating of “Buy” and a consensus price target of $36.09.
The stock has a market cap of $2.52 billion, a PE ratio of -16.20 and a beta of 0.60. The company has a debt-to-equity ratio of 0.83, a quick ratio of 0.62 and a current ratio of 0.62.
The company also recently disclosed a quarterly dividend, which will be paid on Thursday, January 3rd. Shareholders of record on Friday, December 14th will be given a $0.15 dividend. This is a boost from Golar LNG’s previous quarterly dividend of $0.13. The ex-dividend date of this dividend is Thursday, December 13th. This represents a $0.60 dividend on an annualized basis and a dividend yield of 2.52%. Golar LNG’s payout ratio is presently -34.01%.
Several hedge funds have recently added to or reduced their stakes in GLNG. LPL Financial LLC boosted its stake in shares of Golar LNG by 24.7% during the 1st quarter. LPL Financial LLC now owns 8,943 shares of the shipping company’s stock valued at $245,000 after purchasing an additional 1,769 shares in the last quarter. Bank of Montreal Can boosted its stake in shares of Golar LNG by 6,638.0% during the 2nd quarter. Bank of Montreal Can now owns 76,813 shares of the shipping company’s stock valued at $2,263,000 after purchasing an additional 75,673 shares in the last quarter. Nisa Investment Advisors LLC boosted its stake in shares of Golar LNG by 884.2% during the 2nd quarter. Nisa Investment Advisors LLC now owns 4,675 shares of the shipping company’s stock valued at $138,000 after purchasing an additional 4,200 shares in the last quarter. Creative Planning bought a new stake in shares of Golar LNG during the 2nd quarter valued at about $311,000. Finally, Fort Washington Investment Advisors Inc. OH boosted its stake in shares of Golar LNG by 46.5% during the 2nd quarter. Fort Washington Investment Advisors Inc. OH now owns 18,275 shares of the shipping company’s stock valued at $538,000 after purchasing an additional 5,800 shares in the last quarter. Hedge funds and other institutional investors own 78.98% of the company’s stock.
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About Golar LNG (NASDAQ:GLNG)
Golar LNG Limited, a midstream liquefied natural gas (LNG) company, engages in the transportation, regasification, and liquefaction of LNG. It operates through three segments: Vessel operations, Floating Liquefaction Natural Gas Vessel (FLNG), and Power. The company engages in the acquisition, ownership, operation, and chartering of LNG carriers and floating storage regasification units (FSRUs); and the development of LNG projects.
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