Golar LNG (NASDAQ:GLNG) Sets New 12-Month High – Time to Buy?

Golar LNG Limited (NASDAQ:GLNG)’s share price reached a new 52-week high during trading on Monday . The company traded as high as $40.57 and last traded at $39.42, with a volume of 408549 shares trading hands. The stock had previously closed at $36.92.

Analysts Set New Price Targets

A number of equities research analysts have commented on GLNG shares. Deutsche Bank Aktiengesellschaft increased their price target on Golar LNG from $43.00 to $56.00 and gave the company a “buy” rating in a research note on Friday, August 16th. Stifel Nicolaus decreased their price target on Golar LNG from $55.00 to $53.00 and set a “buy” rating for the company in a research note on Friday, August 16th. Fearnley Fonds cut Golar LNG from a “strong-buy” rating to a “hold” rating in a research note on Wednesday, November 13th. Finally, StockNews.com raised Golar LNG to a “sell” rating in a report on Wednesday, November 13th. One investment analyst has rated the stock with a sell rating, one has issued a hold rating and four have given a buy rating to the stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $49.63.

Golar LNG Stock Performance

The firm’s fifty day simple moving average is $36.69 and its 200 day simple moving average is $32.93. The company has a market capitalization of $4.30 billion, a PE ratio of 284.64 and a beta of 0.58. The company has a debt-to-equity ratio of 0.31, a current ratio of 1.24 and a quick ratio of 1.28.

Golar LNG Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Monday, December 2nd. Stockholders of record on Monday, November 25th will be paid a $0.25 dividend. The ex-dividend date of this dividend is Monday, November 25th. This represents a $1.00 dividend on an annualized basis and a dividend yield of 2.43%. Golar LNG’s payout ratio is 714.29%.

Institutional Inflows and Outflows

Several institutional investors have recently bought and sold shares of GLNG. Healthcare of Ontario Pension Plan Trust Fund boosted its holdings in Golar LNG by 467.9% during the third quarter. Healthcare of Ontario Pension Plan Trust Fund now owns 2,237,000 shares of the shipping company’s stock worth $82,232,000 after buying an additional 1,843,100 shares in the last quarter. Clearline Capital LP purchased a new position in Golar LNG during the third quarter valued at $36,865,000. American Century Companies Inc. lifted its holdings in Golar LNG by 53.7% during the second quarter. American Century Companies Inc. now owns 1,732,655 shares of the shipping company’s stock valued at $54,319,000 after purchasing an additional 605,499 shares in the last quarter. Brookfield Corp ON lifted its holdings in Golar LNG by 180.8% during the third quarter. Brookfield Corp ON now owns 849,959 shares of the shipping company’s stock valued at $31,244,000 after purchasing an additional 547,253 shares in the last quarter. Finally, Vanguard Group Inc. lifted its holdings in Golar LNG by 74.4% during the first quarter. Vanguard Group Inc. now owns 1,015,644 shares of the shipping company’s stock valued at $24,436,000 after purchasing an additional 433,299 shares in the last quarter. 92.21% of the stock is currently owned by hedge funds and other institutional investors.

Golar LNG Company Profile

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.