Golar LNG Limited (NASDAQ:GLNG) shares dropped 9.3% during trading on Tuesday . The company traded as low as $23.51 and last traded at $23.53. Approximately 2,349,358 shares changed hands during trading, an increase of 79% from the average daily volume of 1,309,193 shares. The stock had previously closed at $25.95.

GLNG has been the topic of a number of recent research reports. Berenberg Bank initiated coverage on Golar LNG in a research report on Thursday, September 6th. They set a “buy” rating and a $32.00 price target on the stock. Morgan Stanley upped their price target on Golar LNG from $31.00 to $32.00 and gave the company a “buy” rating in a research report on Friday, August 24th. Jefferies Financial Group set a $40.00 price target on Golar LNG and gave the company a “buy” rating in a research report on Wednesday, August 22nd. Deutsche Bank initiated coverage on Golar LNG in a research report on Wednesday, October 10th. They set a “buy” rating and a $36.00 price target on the stock. Finally, B. Riley initiated coverage on Golar LNG in a research report on Thursday, October 4th. They set a “buy” rating and a $34.00 price target on the stock. One investment analyst has rated the stock with a hold rating and thirteen have assigned a buy rating to the company’s stock. The company presently has an average rating of “Buy” and an average price target of $36.09.

The company has a debt-to-equity ratio of 0.83, a current ratio of 0.62 and a quick ratio of 0.62. The company has a market cap of $2.62 billion, a PE ratio of -16.98 and a beta of 0.60.

Golar LNG (NASDAQ:GLNG) last released its quarterly earnings data on Monday, November 5th. The shipping company reported ($0.45) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.11) by ($0.34). Golar LNG had a net margin of 27.87% and a negative return on equity of 4.34%. On average, equities analysts expect that Golar LNG Limited will post -1.03 EPS for the current year.

The business also recently announced a quarterly dividend, which will be paid on Thursday, January 3rd. Investors of record on Friday, December 14th will be issued a dividend of $0.15 per share. The ex-dividend date is Thursday, December 13th. This is a boost from Golar LNG’s previous quarterly dividend of $0.13. This represents a $0.60 annualized dividend and a yield of 2.41%. Golar LNG’s dividend payout ratio is currently -34.01%.

A number of hedge funds have recently modified their holdings of GLNG. Mount Yale Investment Advisors LLC purchased a new stake in Golar LNG during the 2nd quarter valued at about $106,000. Nisa Investment Advisors LLC boosted its holdings in Golar LNG by 884.2% during the 2nd quarter. Nisa Investment Advisors LLC now owns 4,675 shares of the shipping company’s stock valued at $138,000 after acquiring an additional 4,200 shares during the period. Sei Investments Co. boosted its holdings in Golar LNG by 104.5% during the 2nd quarter. Sei Investments Co. now owns 5,326 shares of the shipping company’s stock valued at $156,000 after acquiring an additional 2,721 shares during the period. Cerebellum GP LLC purchased a new stake in Golar LNG during the 3rd quarter valued at about $192,000. Finally, Sunbelt Securities Inc. purchased a new stake in Golar LNG during the 2nd quarter valued at about $206,000. Institutional investors own 78.98% of the company’s stock.

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About Golar LNG (NASDAQ:GLNG)

Golar LNG Limited, a midstream liquefied natural gas (LNG) company, engages in the transportation, regasification, and liquefaction of LNG. It operates through three segments: Vessel operations, Floating Liquefaction Natural Gas Vessel (FLNG), and Power. The company engages in the acquisition, ownership, operation, and chartering of LNG carriers and floating storage regasification units (FSRUs); and the development of LNG projects.

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