Golar LNG (NASDAQ:GLNG) Stock Price Passes Above Two Hundred Day Moving Average – What’s Next?

Golar LNG Limited (NASDAQ:GLNG) passed above its 200-day moving average during trading on Wednesday . The stock has a 200-day moving average of $51.07 and traded as high as $52.04. Golar LNG shares last traded at $51.94, with a volume of 847,530 shares changing hands.

Analyst Ratings Changes

Several brokerages recently issued reports on GLNG. Deutsche Bank Aktiengesellschaft restated a “buy” rating and set a $65.00 price objective on shares of Golar LNG in a research note on Thursday, May 21st. Pareto Securities upgraded shares of Golar LNG from a “hold” rating to a “buy” rating in a research report on Monday, August 24th. Weiss Ratings lowered shares of Golar LNG from a “buy (b-)” rating to a “hold (c+)” rating in a report on Friday, August 21st. BTIG Research boosted their price objective on shares of Golar LNG from $67.00 to $70.00 and gave the company a “buy” rating in a research report on Friday, August 14th. Finally, Wall Street Zen lowered shares of Golar LNG from a “hold” rating to a “sell” rating in a research note on Saturday, June 27th. One analyst has rated the stock with a Strong Buy rating, four have assigned a Buy rating and two have assigned a Hold rating to the company. Based on data from MarketBeat.com, Golar LNG presently has a consensus rating of “Moderate Buy” and an average target price of $63.00.

Golar LNG Trading Up 0.4%

The company has a market cap of $5.36 billion, a price-to-earnings ratio of 33.06 and a beta of 0.05. The company has a debt-to-equity ratio of 1.11, a current ratio of 2.34 and a quick ratio of 2.34. The firm’s fifty day moving average price is $50.78 and its 200-day moving average price is $51.12.

Golar LNG Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Wednesday, September 2nd. Shareholders of record on Monday, August 24th were paid a dividend of $0.25 per share. This represents a $1.00 dividend on an annualized basis and a yield of 1.9%. The ex-dividend date of this dividend was Monday, August 24th. Golar LNG’s payout ratio is presently 62.50%.

Institutional Investors Weigh In On Golar LNG

Large investors have recently made changes to their positions in the company. EverSource Wealth Advisors LLC boosted its position in Golar LNG by 17.0% during the 1st quarter. EverSource Wealth Advisors LLC now owns 1,532 shares of the shipping company’s stock worth $83,000 after acquiring an additional 223 shares during the period. AdvisorNet Financial Inc raised its stake in shares of Golar LNG by 108.5% during the first quarter. AdvisorNet Financial Inc now owns 515 shares of the shipping company’s stock valued at $28,000 after purchasing an additional 268 shares in the last quarter. Franklin Resources Inc. raised its stake in shares of Golar LNG by 2.2% during the fourth quarter. Franklin Resources Inc. now owns 16,707 shares of the shipping company’s stock valued at $622,000 after purchasing an additional 359 shares in the last quarter. State of Wyoming lifted its holdings in Golar LNG by 12.7% in the fourth quarter. State of Wyoming now owns 3,878 shares of the shipping company’s stock worth $144,000 after purchasing an additional 436 shares during the period. Finally, Legal & General Group Plc grew its position in Golar LNG by 2.8% in the 2nd quarter. Legal & General Group Plc now owns 17,100 shares of the shipping company’s stock valued at $704,000 after buying an additional 459 shares in the last quarter. Institutional investors and hedge funds own 92.21% of the company’s stock.

Golar LNG Company Profile

Golar LNG Ltd. (NASDAQ: GLNG) is a liquefied natural gas (LNG) infrastructure company focused primarily on floating liquefied natural gas (FLNG) solutions. Its business includes the development, ownership and operation of floating facilities that process natural gas offshore, liquefy it for export and transfer the resulting LNG to carriers for delivery to global markets.

The company’s FLNG vessels are converted from large LNG carriers or purpose-built to provide offshore liquefaction capacity.