Golar LNG (NASDAQ:GLNG) Shares Gap Up – What’s Next?

Golar LNG Limited (NASDAQ:GLNG)’s share price gapped up prior to trading on Wednesday . The stock had previously closed at $35.04, but opened at $36.21. Golar LNG shares last traded at $36.83, with a volume of 90,093 shares.

Wall Street Analyst Weigh In

Several research analysts have issued reports on the stock. StockNews.com raised shares of Golar LNG to a “sell” rating in a report on Monday, December 9th. DNB Markets cut shares of Golar LNG from a “buy” rating to a “hold” rating in a report on Wednesday, February 19th. Finally, Stifel Nicolaus boosted their price objective on shares of Golar LNG from $53.00 to $55.00 and gave the company a “buy” rating in a report on Tuesday, December 24th. One analyst has rated the stock with a sell rating, two have given a hold rating and four have given a buy rating to the company’s stock. According to MarketBeat.com, the company has a consensus rating of “Hold” and a consensus target price of $50.13.

Golar LNG Price Performance

The firm’s 50-day moving average is $39.08 and its 200-day moving average is $38.34. The company has a market capitalization of $3.85 billion, a P/E ratio of 262.63 and a beta of 0.78.

Golar LNG Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Tuesday, March 18th. Investors of record on Tuesday, March 11th were given a dividend of $0.25 per share. The ex-dividend date of this dividend was Tuesday, March 11th. This represents a $1.00 annualized dividend and a yield of 2.71%. Golar LNG’s dividend payout ratio (DPR) is 208.33%.

Hedge Funds Weigh In On Golar LNG

A number of hedge funds have recently modified their holdings of the company. 111 Capital bought a new position in shares of Golar LNG in the fourth quarter worth approximately $248,000. Teza Capital Management LLC bought a new position in shares of Golar LNG in the fourth quarter worth approximately $2,652,000. Toronto Dominion Bank bought a new position in shares of Golar LNG in the fourth quarter worth approximately $1,185,000. Sagefield Capital LP bought a new position in shares of Golar LNG in the fourth quarter worth approximately $8,725,000. Finally, ProShare Advisors LLC boosted its position in shares of Golar LNG by 49.0% in the fourth quarter. ProShare Advisors LLC now owns 27,871 shares of the shipping company’s stock worth $1,180,000 after purchasing an additional 9,169 shares during the period. 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.