Golar LNG (NASDAQ:GLNG) Sees Large Volume Increase – Still a Buy?

Golar LNG Limited (NASDAQ:GLNG) saw unusually-strong trading volume on Thursday . Approximately 2,576,817 shares were traded during trading, an increase of 65% from the previous session’s volume of 1,559,602 shares.The stock last traded at $50.6470 and had previously closed at $47.98.

Wall Street Analysts Forecast Growth

GLNG has been the topic of a number of research reports. Zacks Research upgraded Golar LNG from a “strong sell” rating to a “hold” rating in a research note on Monday, January 5th. The Goldman Sachs Group set a $56.00 target price on Golar LNG in a report on Monday, February 2nd. Wall Street Zen downgraded Golar LNG from a “hold” rating to a “sell” rating in a research note on Saturday, February 28th. BTIG Research upped their price target on shares of Golar LNG from $50.00 to $53.00 and gave the company a “buy” rating in a research report on Wednesday, February 25th. Finally, Weiss Ratings reiterated a “hold (c+)” rating on shares of Golar LNG in a research note on Monday, December 29th. Two investment 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, Golar LNG presently has a consensus rating of “Moderate Buy” and a consensus target price of $50.50.

Golar LNG Price Performance

The company has a current ratio of 2.55, a quick ratio of 1.32 and a debt-to-equity ratio of 1.19. The stock has a market capitalization of $5.16 billion, a PE ratio of 77.79 and a beta of 0.18. The firm has a 50 day moving average price of $42.82 and a 200 day moving average price of $40.27.

Golar LNG (NASDAQ:GLNG) last released its earnings results on Wednesday, February 25th. The shipping company reported $0.30 earnings per share for the quarter, missing the consensus estimate of $0.38 by ($0.08). Golar LNG had a net margin of 16.69% and a return on equity of 6.24%. The company had revenue of $132.81 million for the quarter, compared to analysts’ expectations of $123.29 million. Research analysts anticipate that Golar LNG Limited will post 1.39 earnings per share for the current year.

Golar LNG Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Wednesday, March 18th. Investors of record on Monday, March 9th were paid a dividend of $0.25 per share. The ex-dividend date was Monday, March 9th. This represents a $1.00 dividend on an annualized basis and a dividend yield of 2.0%. Golar LNG’s payout ratio is 156.25%.

Institutional Investors Weigh In On Golar LNG

Institutional investors and hedge funds have recently added to or reduced their stakes in the company. Amundi boosted its stake in Golar LNG by 29.6% in the 1st quarter. Amundi now owns 19,586 shares of the shipping company’s stock worth $744,000 after purchasing an additional 4,468 shares during the period. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. lifted its holdings in shares of Golar LNG by 4.6% in the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 58,915 shares of the shipping company’s stock worth $2,238,000 after buying an additional 2,572 shares in the last quarter. Bank of New York Mellon Corp lifted its holdings in shares of Golar LNG by 3.6% in the second quarter. Bank of New York Mellon Corp now owns 285,500 shares of the shipping company’s stock worth $11,760,000 after buying an additional 9,963 shares in the last quarter. Savant Capital LLC bought a new position in shares of Golar LNG during the second quarter worth $243,000. Finally, Allworth Financial LP boosted its position in shares of Golar LNG by 43.5% during the second quarter. Allworth Financial LP now owns 990 shares of the shipping company’s stock worth $41,000 after acquiring an additional 300 shares during the last quarter. Institutional investors own 92.21% of the company’s stock.

About Golar LNG

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.