Golar LNG Limited (NASDAQ:GLNG) Stock Has Consensus Price Target of $68.67 According to Brokerages

Golar LNG Limited (NASDAQ:GLNG) has been given an average recommendation of “Buy” by the six analysts that are currently covering the stock, Marketbeat.com reports. One investment analyst has rated the stock with a hold recommendation, four have issued a buy recommendation and one has issued a strong buy recommendation on the company. The average 12 month price target among brokers that have issued a report on the stock in the last year is $68.67.

A number of equities analysts have weighed in on the stock. Pareto Securities raised shares of Golar LNG from a “hold” rating to a “buy” rating in a research note on Monday, August 24th. Weiss Ratings upgraded Golar LNG from a “hold (c+)” rating to a “buy (b-)” rating in a research note on Thursday, October 8th. Finally, BTIG Research raised their price objective on Golar LNG from $70.00 to $75.00 and gave the company a “buy” rating in a research report on Thursday, September 24th.

Golar LNG Price Performance

GLNG stock opened at $42.97 on Tuesday. The company has a debt-to-equity ratio of 1.11, a current ratio of 2.34 and a quick ratio of 2.34. Golar LNG has a 1 year low of $35.02 and a 1 year high of $57.79. The firm has a 50-day moving average of $47.73 and a 200 day moving average of $49.47. The company has a market cap of $4.35 billion, a P/E ratio of 22.54 and a beta of 0.15.

Institutional Trading of Golar LNG

A number of hedge funds have recently bought and sold shares of GLNG. Texas Yale Capital Corp. boosted its position in Golar LNG by 11.6% during the 3rd quarter. Texas Yale Capital Corp. now owns 71,916 shares of the shipping company’s stock valued at $3,417,000 after acquiring an additional 7,500 shares in the last quarter. Kayne Anderson Capital Advisors LP acquired a new position in shares of Golar LNG during the third quarter worth $20,529,000. Private Advisor Group LLC purchased a new stake in shares of Golar LNG during the 3rd quarter valued at $222,000. Global Retirement Partners LLC purchased a new stake in shares of Golar LNG during the 3rd quarter valued at $97,000. Finally, Danske Bank A S lifted its holdings in shares of Golar LNG by 114.3% during the 3rd quarter. Danske Bank A S now owns 1,200,000 shares of the shipping company’s stock valued at $57,024,000 after purchasing an additional 640,000 shares during the last quarter. Hedge funds and other institutional investors own 92.21% of the company’s stock.

About Golar LNG

Golar LNG Limited is an international provider of liquefied natural gas (LNG) infrastructure, with a primary focus on floating LNG (FLNG) technology. The company develops and operates floating facilities that process natural gas offshore and convert it into LNG for transport to customers. Its business includes FLNG vessel ownership and operations, along with related project development and infrastructure services. By locating liquefaction facilities near offshore gas resources, Golar aims to help bring gas reserves to market without relying solely on onshore processing plants.