Golar LNG (GLNG) Trading Up 6%

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.

Golar LNG (NASDAQ:GLNG) last released its quarterly earnings data on Monday, November 5th. The shipping company reported ($0.45) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.11) by ($0.34). Golar LNG had a net margin of 27.87% and a negative return on equity of 4.34%. As a group, analysts forecast that Golar LNG Limited will post -1.03 earnings per share for the current fiscal year.

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.

TRADEMARK VIOLATION WARNING: “Golar LNG (GLNG) Trading Up 6%” was originally published by WKRB News and is the property of of WKRB News. If you are reading this news story on another site, it was stolen and republished in violation of US and international copyright & trademark laws. The correct version of this news story can be viewed at https://www.wkrb13.com/2018/11/23/golar-lng-glng-trading-up-6.html.

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.

Featured Story: What is a stock buyback?

Receive News & Ratings for Golar LNG Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Golar LNG and related companies with MarketBeat.com's FREE daily email newsletter.

Leave a Reply