Golar LNG (NASDAQ:GLNG) Sets New 52-Week High – Time to Buy?

Shares of Golar LNG Limited (NASDAQ:GLNG) reached a new 52-week high on Monday . The company traded as high as $39.40 and last traded at $39.22, with a volume of 631825 shares. The stock had previously closed at $38.96.

Analysts Set New Price Targets

A number of research firms recently weighed in on GLNG. StockNews.com upgraded Golar LNG to a “sell” rating in a research note on Tuesday, October 1st. Deutsche Bank Aktiengesellschaft upped their price target on shares of Golar LNG from $43.00 to $56.00 and gave the company a “buy” rating in a research note on Friday, August 16th. Stifel Nicolaus cut their price objective on shares of Golar LNG from $55.00 to $53.00 and set a “buy” rating for the company in a research report on Friday, August 16th. BTIG Research upped their target price on Golar LNG from $36.00 to $45.00 and gave the company a “buy” rating in a research report on Tuesday, June 25th. Finally, B. Riley lifted their price target on Golar LNG from $35.50 to $44.50 and gave the stock a “buy” rating in a report on Friday, July 19th. One research analyst has rated the stock with a sell rating and four have issued a buy rating to the company’s stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $49.63.

Golar LNG Stock Performance

The stock’s 50-day simple moving average is $34.05 and its 200-day simple moving average is $30.42. The stock has a market cap of $4.10 billion, a price-to-earnings ratio of 37.10 and a beta of 0.58. The company has a current ratio of 1.24, a quick ratio of 1.28 and a debt-to-equity ratio of 0.31.

Golar LNG (NASDAQ:GLNG) last posted its quarterly earnings data on Thursday, August 15th. The shipping company reported $0.42 earnings per share for the quarter, missing the consensus estimate of $0.44 by ($0.02). The firm had revenue of $62.98 million for the quarter, compared to the consensus estimate of $67.38 million. Golar LNG had a return on equity of 9.20% and a net margin of 50.89%. Analysts forecast that Golar LNG Limited will post 1.53 earnings per share for the current fiscal year.

Golar LNG Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Tuesday, September 3rd. Stockholders of record on Monday, August 26th were paid a $0.25 dividend. The ex-dividend date was Monday, August 26th. This represents a $1.00 annualized dividend and a dividend yield of 2.55%. Golar LNG’s payout ratio is 95.24%.

Institutional Trading of Golar LNG

Several large investors have recently bought and sold shares of GLNG. Vanguard Group Inc. lifted its holdings in shares of Golar LNG by 74.4% in the first quarter. Vanguard Group Inc. now owns 1,015,644 shares of the shipping company’s stock worth $24,436,000 after acquiring an additional 433,299 shares during the last quarter. Capstone Investment Advisors LLC acquired a new stake in Golar LNG in the first quarter valued at approximately $1,252,000. Denali Advisors LLC bought a new stake in shares of Golar LNG during the first quarter worth $1,049,000. BNP Paribas Financial Markets increased its holdings in shares of Golar LNG by 171.4% during the first quarter. BNP Paribas Financial Markets now owns 98,506 shares of the shipping company’s stock worth $2,370,000 after buying an additional 62,205 shares in the last quarter. Finally, SG Americas Securities LLC lifted its stake in shares of Golar LNG by 532.0% in the 2nd quarter. SG Americas Securities LLC now owns 133,444 shares of the shipping company’s stock valued at $4,183,000 after acquiring an additional 112,331 shares during the last quarter. 92.21% of the stock is owned by institutional investors and hedge funds.

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.