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

Golar LNG Limited (NASDAQ:GLNG)’s share price hit a new 52-week high during trading on Tuesday . The company traded as high as $54.90 and last traded at $54.6480, with a volume of 1000474 shares. The stock had previously closed at $52.80.

Analyst Upgrades and Downgrades

A number of analysts have recently weighed in on the stock. Wall Street Zen cut shares of Golar LNG from a “hold” rating to a “sell” rating in a report on Saturday, February 28th. Zacks Research upgraded shares of Golar LNG from a “strong sell” rating to a “hold” rating in a research note on Monday, January 5th. Weiss Ratings reissued a “hold (c+)” rating on shares of Golar LNG in a research report on Monday, December 29th. BTIG Research raised their target price on shares of Golar LNG from $50.00 to $53.00 and gave the company a “buy” rating in a research note on Wednesday, February 25th. Finally, The Goldman Sachs Group set a $56.00 price target on shares of Golar LNG in a report on Monday, February 2nd. Two investment analysts have rated the stock with a Strong Buy rating, three have assigned a Buy rating and three have issued a Hold rating to the company. According to MarketBeat, Golar LNG currently has an average rating of “Moderate Buy” and a consensus target price of $50.50.

Golar LNG Stock Up 3.0%

The company has a debt-to-equity ratio of 1.19, a current ratio of 2.55 and a quick ratio of 1.32. The business’s fifty day moving average price is $43.61 and its two-hundred day moving average price is $40.43. The stock has a market capitalization of $5.69 billion, a PE ratio of 85.00 and a beta of 0.18.

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

Golar LNG Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Wednesday, March 18th. Stockholders of record on Monday, March 9th were paid a $0.25 dividend. This represents a $1.00 annualized dividend and a dividend yield of 1.8%. The ex-dividend date was Monday, March 9th. Golar LNG’s dividend payout ratio (DPR) is presently 156.25%.

Institutional Investors Weigh In On Golar LNG

Large investors have recently bought and sold shares of the company. Caitong International Asset Management Co. Ltd raised its position in Golar LNG by 278.2% during the 3rd quarter. Caitong International Asset Management Co. Ltd now owns 658 shares of the shipping company’s stock worth $27,000 after buying an additional 484 shares during the last quarter. Smartleaf Asset Management LLC boosted its holdings in shares of Golar LNG by 281.9% in the 3rd quarter. Smartleaf Asset Management LLC now owns 909 shares of the shipping company’s stock valued at $37,000 after acquiring an additional 671 shares during the last quarter. Crossingbridge Advisors LLC acquired a new stake in shares of Golar LNG in the second quarter worth $41,000. Allworth Financial LP increased its stake in shares of Golar LNG by 43.5% in 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 period. Finally, Zions Bancorporation National Association UT purchased a new position in shares of Golar LNG during the fourth quarter worth $44,000. Hedge funds and other institutional investors own 92.21% of the company’s stock.

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.