Golar LNG (NASDAQ:GLNG) Upgraded to Hold at Wall Street Zen

Wall Street Zen upgraded shares of Golar LNG (NASDAQ:GLNGFree Report) from a sell rating to a hold rating in a report published on Saturday.

A number of other research firms have also commented on GLNG. The Goldman Sachs Group set a $56.00 price target on Golar LNG in a research report on Monday, February 2nd. Zacks Research raised shares of Golar LNG from a “strong sell” rating to a “hold” rating in a report on Monday, January 5th. 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 note on Wednesday, February 25th. Finally, Weiss Ratings reiterated a “hold (c+)” rating on shares of Golar LNG in a report on Monday, December 29th. Two 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 stock. According to MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $50.50.

Get Our Latest Stock Report on Golar LNG

Golar LNG Stock Performance

Shares of GLNG opened at $55.03 on Friday. The company has a debt-to-equity ratio of 1.19, a quick ratio of 1.32 and a current ratio of 2.55. The stock has a 50 day moving average price of $44.78 and a two-hundred day moving average price of $40.77. The firm has a market capitalization of $5.75 billion, a P/E ratio of 85.99 and a beta of 0.18. Golar LNG has a 52 week low of $29.56 and a 52 week high of $55.80.

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

Golar LNG Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Wednesday, March 18th. Stockholders of record on Monday, March 9th were paid a dividend of $0.25 per share. This represents a $1.00 dividend on an annualized basis and a dividend yield of 1.8%. The ex-dividend date was Monday, March 9th. Golar LNG’s payout ratio is presently 156.25%.

Hedge Funds Weigh In On Golar LNG

Institutional investors have recently added to or reduced their stakes in the stock. Caitong International Asset Management Co. Ltd raised its position in Golar LNG by 278.2% in the third quarter. Caitong International Asset Management Co. Ltd now owns 658 shares of the shipping company’s stock worth $27,000 after acquiring an additional 484 shares during the period. Smartleaf Asset Management LLC boosted its stake in Golar LNG by 281.9% in the third quarter. Smartleaf Asset Management LLC now owns 909 shares of the shipping company’s stock valued at $37,000 after acquiring an additional 671 shares during the last quarter. Zions Bancorporation National Association UT bought a new position in shares of Golar LNG during the 4th quarter valued at approximately $44,000. EverSource Wealth Advisors LLC grew its position in shares of Golar LNG by 94.0% during the 2nd quarter. EverSource Wealth Advisors LLC now owns 1,356 shares of the shipping company’s stock valued at $56,000 after acquiring an additional 657 shares during the period. Finally, Brown Brothers Harriman & Co. purchased a new stake in shares of Golar LNG during the 4th quarter worth approximately $65,000. Institutional investors own 92.21% of the company’s stock.

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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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