Golar LNG (NASDAQ:GLNG) Hits New 12-Month High at $35.20

Golar LNG Limited (NASDAQ:GLNG) shares reached a new 52-week high on Tuesday . The company traded as high as $35.20 and last traded at $35.14, with a volume of 509433 shares. The stock had previously closed at $34.26.

Analyst Upgrades and Downgrades

A number of equities research analysts have weighed in on the company. BTIG Research upped their target price on Golar LNG from $36.00 to $45.00 and gave the stock a “buy” rating in a research report on Tuesday, June 25th. B. Riley increased their price objective on Golar LNG from $35.50 to $44.50 and gave the company a “buy” rating in a research report on Friday. StockNews.com upgraded Golar LNG from a “sell” rating to a “hold” rating in a research report on Thursday, July 11th. Stifel Nicolaus increased their price objective on Golar LNG from $34.00 to $55.00 and gave the company a “buy” rating in a research report on Monday, June 24th. Finally, Deutsche Bank Aktiengesellschaft increased their price objective on Golar LNG from $28.00 to $40.00 and gave the company a “buy” rating in a research report on Wednesday, May 29th. Three investment analysts have rated the stock with a hold rating and four have issued a buy rating to the stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $42.30.

Golar LNG Price Performance

The stock has a fifty day moving average price of $29.53 and a 200-day moving average price of $25.45. The company has a market cap of $3.80 billion, a PE ratio of 34.32 and a beta of 0.64. The company has a debt-to-equity ratio of 0.34, a current ratio of 1.49 and a quick ratio of 1.49.

Golar LNG (NASDAQ:GLNG) last released its earnings results on Tuesday, May 28th. The shipping company reported $0.45 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.44 by $0.01. Golar LNG had a return on equity of 10.15% and a net margin of 38.11%. The company had revenue of $63.19 million during the quarter, compared to analyst estimates of $72.27 million. On average, equities analysts expect that Golar LNG Limited will post 1.88 earnings per share for the current year.

Golar LNG Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Monday, June 17th. Stockholders of record on Monday, June 10th were paid a $0.25 dividend. This represents a $1.00 dividend on an annualized basis and a dividend yield of 2.75%. The ex-dividend date was Monday, June 10th. Golar LNG’s dividend payout ratio (DPR) is presently 95.24%.

Hedge Funds Weigh In On Golar LNG

A number of hedge funds have recently modified their holdings of the stock. ARS Investment Partners LLC acquired a new position in Golar LNG during the second quarter worth $470,000. SG Americas Securities LLC increased its position in Golar LNG by 532.0% during the second quarter. SG Americas Securities LLC now owns 133,444 shares of the shipping company’s stock worth $4,183,000 after buying an additional 112,331 shares during the last quarter. Lake Hills Wealth Management LLC acquired a new position in Golar LNG during the second quarter worth $212,000. Lowe Wealth Advisors LLC acquired a new position in Golar LNG during the second quarter worth $45,000. Finally, Yaupon Capital Management LP acquired a new position in Golar LNG during the first quarter worth $764,000. 92.21% of the stock is owned by institutional investors and hedge funds.

About Golar LNG

Golar LNG Limited designs, converts, owns, and operates marine infrastructure for the liquefaction of natural gas. The company operates through three segments: FLNG, Corporate and Other, and Shipping. It engages in the regasification, storage, and offloading of liquefied natural gas (LNG); operation of floating liquefaction natural gas (FLNG) vessels or projects; transportation of LNG carriers; and vessel management activities.