Analysts Set Golar LNG Limited (NASDAQ:GLNG) Price Target at $58.70

Shares of Golar LNG Limited (NASDAQ:GLNG) have earned an average recommendation of “Moderate Buy” from the eight analysts that are presently covering the stock, MarketBeat.com reports. Three research analysts have rated the stock with a hold recommendation, four have issued a buy recommendation and one has given a strong buy recommendation to the company. The average 12-month price target among analysts that have issued a report on the stock in the last year is $58.70.

Several research firms recently issued reports on GLNG. The Goldman Sachs Group set a $66.00 price objective on shares of Golar LNG and gave the stock a “conviction-buy” rating in a research report on Tuesday, July 7th. Wall Street Zen lowered shares of Golar LNG from a “hold” rating to a “sell” rating in a report on Saturday, June 27th. Pareto Securities cut shares of Golar LNG from a “strong-buy” rating to a “hold” rating in a research note on Thursday, May 21st. Weiss Ratings raised shares of Golar LNG from a “hold (c+)” rating to a “buy (b-)” rating in a research note on Tuesday, June 23rd. Finally, BTIG Research restated a “buy” rating and set a $67.00 price target on shares of Golar LNG in a report on Wednesday, May 20th.

Institutional Investors Weigh In On Golar LNG

Hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Caitong International Asset Management Co. Ltd lifted its stake in shares of Golar LNG by 278.2% in the 3rd quarter. Caitong International Asset Management Co. Ltd now owns 658 shares of the shipping company’s stock valued at $27,000 after purchasing an additional 484 shares during the last quarter. AdvisorNet Financial Inc increased its position in shares of Golar LNG by 108.5% during the 1st quarter. AdvisorNet Financial Inc now owns 515 shares of the shipping company’s stock worth $28,000 after purchasing an additional 268 shares during the last quarter. Zions Bancorporation National Association UT acquired a new stake in shares of Golar LNG during the 4th quarter worth about $44,000. EverSource Wealth Advisors LLC raised its holdings in Golar LNG by 94.0% in the 2nd quarter. EverSource Wealth Advisors LLC now owns 1,356 shares of the shipping company’s stock valued at $56,000 after buying an additional 657 shares during the period. Finally, Brown Brothers Harriman & Co. purchased a new stake in Golar LNG in the 4th quarter valued at about $65,000. Institutional investors and hedge funds own 92.21% of the company’s stock.

Golar LNG Stock Up 0.5%

Shares of GLNG opened at $49.43 on Friday. Golar LNG has a 52-week low of $35.02 and a 52-week high of $57.79. The company has a market capitalization of $5.01 billion, a PE ratio of 35.82 and a beta of 0.05. The stock has a fifty day simple moving average of $50.05 and a two-hundred day simple moving average of $49.24. The company has a quick ratio of 2.57, a current ratio of 2.57 and a debt-to-equity ratio of 1.14.

Golar LNG (NASDAQ:GLNG) last posted its quarterly earnings results on Thursday, March 26th. The shipping company reported $0.82 EPS for the quarter. The business had revenue of $137.55 million for the quarter. Golar LNG had a return on equity of 6.86% and a net margin of 30.10%. As a group, equities analysts forecast that Golar LNG will post 0.72 EPS for the current year.

Golar LNG Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Wednesday, June 10th. Investors of record on Monday, June 1st were given a $0.25 dividend. This represents a $1.00 annualized dividend and a yield of 2.0%. The ex-dividend date was Monday, June 1st. Golar LNG’s dividend payout ratio is presently 72.46%.

Golar LNG Company Profile

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.