Golar LNG (NASDAQ:GLNG) Sets New 52-Week High – Should You Buy?

Golar LNG Limited (NASDAQ:GLNG)’s share price hit a new 52-week high during mid-day trading on Wednesday . The company traded as high as $56.82 and last traded at $54.44, with a volume of 2341603 shares. The stock had previously closed at $55.75.

Wall Street Analyst Weigh In

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

Golar LNG Trading Down 2.3%

The business has a 50 day moving average of $46.84 and a two-hundred day moving average of $41.49. The company has a current ratio of 2.55, a quick ratio of 2.55 and a debt-to-equity ratio of 1.19. The firm has a market cap of $5.52 billion, a P/E ratio of 85.06 and a beta of 0.11.

Golar LNG (NASDAQ:GLNG) last posted its quarterly earnings results on Saturday, February 14th. The shipping company reported $0.09 earnings per share for the quarter. Golar LNG had a return on equity of 6.24% and a net margin of 16.69%.The business had revenue of $132.81 million for the quarter. Analysts predict that Golar LNG Limited will post 1.39 earnings per share for the current year.

Golar LNG Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Wednesday, March 18th. Investors of record on Monday, March 9th were paid a $0.25 dividend. This represents a $1.00 dividend on an annualized basis and a yield of 1.8%. The ex-dividend date was Monday, March 9th. Golar LNG’s dividend payout ratio is 156.25%.

Institutional Investors Weigh In On Golar LNG

A number of large investors have recently added to or reduced their stakes in the business. State of Alaska Department of Revenue raised its stake in Golar LNG by 6.4% in the 4th quarter. State of Alaska Department of Revenue now owns 4,540 shares of the shipping company’s stock valued at $168,000 after acquiring an additional 274 shares during the period. Franklin Resources Inc. raised its stake in Golar LNG by 2.2% in the 4th quarter. Franklin Resources Inc. now owns 16,707 shares of the shipping company’s stock valued at $622,000 after acquiring an additional 359 shares during the period. State of Wyoming increased its position in Golar LNG by 12.7% during the 4th quarter. State of Wyoming now owns 3,878 shares of the shipping company’s stock worth $144,000 after buying an additional 436 shares during the period. Legal & General Group Plc increased its position in Golar LNG by 2.8% during the 2nd quarter. Legal & General Group Plc now owns 17,100 shares of the shipping company’s stock worth $704,000 after buying an additional 459 shares during the period. Finally, Amplify Investments LLC increased its position in Golar LNG by 21.4% during the 4th quarter. Amplify Investments LLC now owns 2,686 shares of the shipping company’s stock worth $105,000 after buying an additional 474 shares during the period. 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.