Golar LNG (NASDAQ:GLNG) Hits New 1-Year High – Here’s Why

Golar LNG Limited (NASDAQ:GLNG)’s share price reached a new 52-week high during trading on Wednesday . The company traded as high as $43.95 and last traded at $43.87, with a volume of 920716 shares. The stock had previously closed at $42.68.

Analyst Upgrades and Downgrades

Several brokerages have recently issued reports on GLNG. StockNews.com raised Golar LNG to a “sell” rating in a research note on Monday. Deutsche Bank Aktiengesellschaft upped their price target on Golar LNG from $43.00 to $56.00 and gave the company a “buy” rating in a research note on Friday, August 16th. Fearnley Fonds lowered Golar LNG from a “strong-buy” rating to a “hold” rating in a research note on Wednesday, November 13th. Finally, Stifel Nicolaus cut their price target on Golar LNG from $55.00 to $53.00 and set a “buy” rating on the stock in a research note on Friday, August 16th. One analyst has rated the stock with a sell rating, one has assigned a hold rating and four have assigned a buy rating to the company. Based on data from MarketBeat.com, Golar LNG has a consensus rating of “Moderate Buy” and an average price target of $49.63.

Golar LNG Stock Up 2.0 %

The firm has a fifty day simple moving average of $38.06 and a 200-day simple moving average of $34.12. The company has a market capitalization of $4.55 billion, a P/E ratio of 304.86 and a beta of 0.60. The company has a quick ratio of 1.28, a current ratio of 1.55 and a debt-to-equity ratio of 0.41.

Golar LNG Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Monday, December 2nd. Shareholders of record on Monday, November 25th were issued a $0.25 dividend. The ex-dividend date was Monday, November 25th. This represents a $1.00 annualized dividend and a dividend yield of 2.30%. Golar LNG’s dividend payout ratio (DPR) is currently 714.29%.

Institutional Inflows and Outflows

A number of hedge funds have recently modified their holdings of GLNG. Public Employees Retirement System of Ohio bought a new position in shares of Golar LNG during the third quarter worth about $32,000. Blue Trust Inc. lifted its position in shares of Golar LNG by 105.1% in the third quarter. Blue Trust Inc. now owns 1,372 shares of the shipping company’s stock valued at $50,000 after buying an additional 703 shares during the last quarter. Sound Income Strategies LLC acquired a new stake in shares of Golar LNG in the third quarter valued at approximately $52,000. EverSource Wealth Advisors LLC lifted its position in shares of Golar LNG by 206.2% in the second quarter. EverSource Wealth Advisors LLC now owns 1,727 shares of the shipping company’s stock valued at $54,000 after buying an additional 1,163 shares during the last quarter. Finally, CWM LLC lifted its position in shares of Golar LNG by 830.9% in the third quarter. CWM LLC now owns 1,657 shares of the shipping company’s stock valued at $61,000 after buying an additional 1,479 shares during the last quarter. 92.21% of the stock is currently owned by institutional investors.

Golar LNG Company Profile

Golar LNG Limited designs, converts, owns, and operates marine infrastructure for the liquefaction of natural gas. The company operates through three segments: FLNG, Corporate and Other, and Shipping. It engages in the regasification, storage, and offloading of liquefied natural gas (LNG); operation of floating liquefaction natural gas (FLNG) vessels or projects; transportation of LNG carriers; and vessel management activities.