Golar LNG (NASDAQ:GLNG) Shares Gap Up – Here’s Why

Shares of Golar LNG Limited (NASDAQ:GLNGGet Free Report) gapped up prior to trading on Thursday . The stock had previously closed at $53.09, but opened at $55.04. Golar LNG shares last traded at $55.2840, with a volume of 733,782 shares.

Golar LNG News Summary

Here are the key news stories impacting Golar LNG this week:

Analyst Ratings Changes

GLNG has been the topic of several research analyst reports. Zacks Research upgraded Golar LNG from a “strong sell” rating to a “hold” rating in a research report on Monday, January 5th. Weiss Ratings reiterated a “hold (c+)” rating on shares of Golar LNG in a research report on Monday, December 29th. Wall Street Zen raised shares of Golar LNG from a “sell” rating to a “hold” rating in a report on Saturday. BTIG Research upped their target price on shares of Golar LNG from $50.00 to $53.00 and gave the stock a “buy” rating in a research report on Wednesday, February 25th. Finally, The Goldman Sachs Group set a $56.00 target price on shares of Golar LNG in a research note on Monday, February 2nd. Two equities research analysts have rated the stock with a Strong Buy rating, three have issued a Buy rating and three have assigned a Hold rating to the company’s stock. According to MarketBeat, Golar LNG presently has a consensus rating of “Moderate Buy” and a consensus price target of $50.50.

Check Out Our Latest Report on GLNG

Golar LNG Stock Up 1.8%

The business’s 50 day simple moving average is $44.78 and its 200 day simple moving average is $40.78. The company has a current ratio of 2.55, a quick ratio of 1.32 and a debt-to-equity ratio of 1.19. The firm has a market capitalization of $5.75 billion, a PE ratio of 85.99 and a beta of 0.18.

Golar LNG (NASDAQ:GLNGGet Free Report) last announced its quarterly earnings results on Wednesday, February 25th. The shipping company reported $0.30 EPS for the quarter, missing analysts’ consensus estimates of $0.38 by ($0.08). The business had revenue of $132.81 million during the quarter, compared to the consensus estimate of $123.29 million. Golar LNG had a net margin of 16.69% and a return on equity of 6.24%. On average, equities research analysts forecast that Golar LNG Limited will post 1.39 earnings per share for the current year.

Golar LNG Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Wednesday, March 18th. Stockholders of record on Monday, March 9th were paid a $0.25 dividend. This represents a $1.00 annualized dividend and a dividend yield of 1.8%. The ex-dividend date of this dividend was Monday, March 9th. Golar LNG’s dividend payout ratio (DPR) is presently 156.25%.

Hedge Funds Weigh In On Golar LNG

A number of institutional investors and hedge funds have recently modified their holdings of the stock. Tejara Capital Ltd lifted its position in Golar LNG by 44.0% in the third quarter. Tejara Capital Ltd now owns 196,526 shares of the shipping company’s stock worth $7,942,000 after buying an additional 60,093 shares during the last quarter. Permanent Capital Management LP bought a new position in Golar LNG during the third quarter valued at $2,114,000. Huber Capital Management LLC increased its position in Golar LNG by 12.4% during the third quarter. Huber Capital Management LLC now owns 923,718 shares of the shipping company’s stock valued at $37,327,000 after acquiring an additional 102,200 shares during the last quarter. King Luther Capital Management Corp purchased a new stake in shares of Golar LNG in the third quarter valued at $1,179,000. Finally, ARS Investment Partners LLC raised its stake in shares of Golar LNG by 14.7% in the third quarter. ARS Investment Partners LLC now owns 296,059 shares of the shipping company’s stock valued at $11,964,000 after acquiring an additional 38,040 shares during the period. Hedge funds and other institutional investors own 92.21% of the company’s stock.

About Golar LNG

(Get Free Report)

Golar LNG Ltd. is a leading owner and operator of liquefied natural gas (LNG) carriers and floating infrastructure. The company specializes in the transportation of LNG on long-term and spot charters for major energy firms around the world. In addition to shipping, Golar LNG has broadened its services to include project development and the conversion of existing carriers into Floating Liquefied Natural Gas (FLNG) and Floating Storage and Regasification Unit (FSRU) vessels.

Since pioneering the first purpose-built FLNG conversion project, Golar LNG has been at the forefront of offshore gas monetization.

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