Golar LNG (NASDAQ:GLNG) Hits New 12-Month High – Still a Buy?

Golar LNG Limited (NASDAQ:GLNG) shares hit a new 52-week high during mid-day trading on Wednesday . The company traded as high as $47.62 and last traded at $47.4260, with a volume of 806372 shares changing hands. The stock had previously closed at $46.31.

Analysts Set New Price Targets

Several equities analysts have weighed in on the stock. Zacks Research upgraded shares of Golar LNG from a “strong sell” rating to a “hold” rating in a report on Monday, January 5th. BTIG Research upped their price objective on Golar LNG from $50.00 to $53.00 and gave the company a “buy” rating in a report on Wednesday, February 25th. Wall Street Zen lowered Golar LNG from a “hold” rating to a “sell” rating in a research report on Saturday, February 28th. Weiss Ratings restated a “hold (c+)” rating on shares of Golar LNG in a research report on Monday, December 29th. Finally, The Goldman Sachs Group set a $56.00 price target on Golar LNG in a report on Monday, February 2nd. Three equities research analysts have rated the stock with a Strong Buy rating, three have assigned a Buy rating and three have given a Hold rating to the company’s stock. According to data from MarketBeat.com, the stock has a consensus rating of “Buy” and a consensus target price of $50.50.

Golar LNG Stock Up 3.3%

The business has a 50 day simple moving average of $42.63 and a 200 day simple moving average of $40.22. The company has a market capitalization of $5.00 billion, a price-to-earnings ratio of 74.77 and a beta of 0.18. The company has a debt-to-equity ratio of 1.19, a current ratio of 2.55 and a quick ratio of 1.32.

Golar LNG (NASDAQ:GLNG) last issued its quarterly earnings data on Wednesday, February 25th. The shipping company reported $0.30 earnings per share for the quarter, missing analysts’ consensus estimates of $0.38 by ($0.08). Golar LNG had a net margin of 16.69% and a return on equity of 6.24%. The firm had revenue of $132.81 million during the quarter, compared to analyst estimates of $123.29 million. As a group, equities analysts predict that Golar LNG Limited will post 1.39 earnings per share for the current fiscal year.

Golar LNG Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Wednesday, March 18th. Shareholders of record on Monday, March 9th will be given a $0.25 dividend. This represents a $1.00 annualized dividend and a yield of 2.1%. The ex-dividend date of this dividend is Monday, March 9th. Golar LNG’s payout ratio is currently 156.25%.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently made changes to their positions in the business. Rockefeller Capital Management L.P. grew its holdings in shares of Golar LNG by 38.0% in the fourth quarter. Rockefeller Capital Management L.P. now owns 80,892 shares of the shipping company’s stock valued at $3,010,000 after purchasing an additional 22,269 shares in the last quarter. T. Rowe Price Investment Management Inc. grew its stake in shares of Golar LNG by 253.7% in the fourth quarter. T. Rowe Price Investment Management Inc. now owns 2,306,379 shares of the shipping company’s stock worth $85,821,000 after acquiring an additional 1,654,353 shares in the last quarter. Vident Advisory LLC increased its position in shares of Golar LNG by 22.9% during the fourth quarter. Vident Advisory LLC now owns 8,149 shares of the shipping company’s stock worth $303,000 after acquiring an additional 1,521 shares during the period. Empowered Funds LLC acquired a new stake in shares of Golar LNG in the fourth quarter valued at $2,682,000. Finally, SummitTX Capital L.P. boosted its holdings in Golar LNG by 1.9% in the fourth quarter. SummitTX Capital L.P. now owns 81,844 shares of the shipping company’s stock valued at $3,045,000 after purchasing an additional 1,565 shares during the period. Hedge funds and other institutional investors own 92.21% of the company’s stock.

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.