Golar LNG (NASDAQ:GLNG) Price Target Raised to $53.00

Golar LNG (NASDAQ:GLNG) had its target price boosted by BTIG Research from $50.00 to $53.00 in a research report released on Wednesday morning, Marketbeat reports. BTIG Research currently has a buy rating on the shipping company’s stock.

A number of other research analysts also recently issued reports on GLNG. The Goldman Sachs Group set a $56.00 target price on shares of Golar LNG in a research report on Monday, February 2nd. Wall Street Zen upgraded shares of Golar LNG from a “sell” rating to a “hold” rating in a report on Saturday, February 14th. Weiss Ratings restated a “hold (c+)” rating on shares of Golar LNG in a research note on Monday, December 29th. Finally, Zacks Research raised Golar LNG from a “strong sell” rating to a “hold” rating in a research report on Monday, January 5th. Three analysts have rated the stock with a Strong Buy rating, three have given a Buy rating and three have issued a Hold rating to the company’s stock. According to MarketBeat.com, the company has a consensus rating of “Buy” and an average target price of $50.50.

Golar LNG Stock Up 2.8%

Shares of Golar LNG stock opened at $44.46 on Wednesday. The stock’s 50-day moving average is $40.69 and its 200 day moving average is $40.01. Golar LNG has a one year low of $29.56 and a one year high of $46.23. The firm has a market cap of $4.65 billion, a price-to-earnings ratio of 69.47 and a beta of 0.20. The company has a debt-to-equity ratio of 0.61, a current ratio of 1.32 and a quick ratio of 1.32.

Golar LNG (NASDAQ:GLNG) last issued its quarterly earnings results on Wednesday, February 25th. The shipping company reported $0.30 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.38 by ($0.08). The business had revenue of $132.81 million during the quarter, compared to analyst estimates of $123.29 million. Golar LNG had a net margin of 16.69% and a return on equity of 6.06%. Equities research analysts anticipate that Golar LNG will post 1.39 EPS for the current year.

Golar LNG Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, March 18th. Shareholders of record on Monday, March 9th will be given a $0.25 dividend. The ex-dividend date of this dividend is Monday, March 9th. This represents a $1.00 annualized dividend and a yield of 2.2%. Golar LNG’s payout ratio is currently 156.25%.

Institutional Investors Weigh In On Golar LNG

Several large investors have recently made changes to their positions in GLNG. Rubric Capital Management LP boosted its holdings in shares of Golar LNG by 2.3% in the 2nd quarter. Rubric Capital Management LP now owns 9,178,978 shares of the shipping company’s stock worth $378,082,000 after buying an additional 203,829 shares during the last quarter. PointState Capital LP raised its position in Golar LNG by 19.3% in the fourth quarter. PointState Capital LP now owns 3,932,104 shares of the shipping company’s stock worth $146,314,000 after acquiring an additional 637,081 shares during the period. T. Rowe Price Investment Management Inc. boosted its stake in Golar LNG by 253.7% in the fourth quarter. T. Rowe Price Investment Management Inc. now owns 2,306,379 shares of the shipping company’s stock valued at $85,821,000 after acquiring an additional 1,654,353 shares during the last quarter. Morgan Stanley grew its position in shares of Golar LNG by 14.0% during the 4th quarter. Morgan Stanley now owns 2,110,671 shares of the shipping company’s stock valued at $78,538,000 after acquiring an additional 259,915 shares during the period. Finally, Cartenna Capital LP increased its stake in shares of Golar LNG by 13.2% during the 3rd quarter. Cartenna Capital LP now owns 1,925,000 shares of the shipping company’s stock worth $77,789,000 after purchasing an additional 225,000 shares during the last quarter. 92.21% of the stock is owned by hedge funds and other institutional investors.

Golar LNG Company Profile

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.