Golar LNG (NASDAQ:GLNG) Hits New 1-Year High – Here’s What Happened

Shares of Golar LNG Limited (NASDAQ:GLNG) hit a new 52-week high during mid-day trading on Thursday . The company traded as high as $42.02 and last traded at $41.92, with a volume of 606966 shares changing hands. The stock had previously closed at $40.55.

Analyst Upgrades and Downgrades

Several research analysts have weighed in on the stock. Stifel Nicolaus lowered their price target on shares of Golar LNG from $55.00 to $53.00 and set a “buy” rating on the stock in a report on Friday, August 16th. Fearnley Fonds cut shares of Golar LNG from a “strong-buy” rating to a “hold” rating in a report on Wednesday, November 13th. Deutsche Bank Aktiengesellschaft raised their target price on shares of Golar LNG from $43.00 to $56.00 and gave the stock a “buy” rating in a report on Friday, August 16th. Finally, StockNews.com raised shares of 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 given a hold rating and four have assigned a buy rating to the company. According to MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus target price of $49.63.

Golar LNG Price Performance

The company has a debt-to-equity ratio of 0.41, a current ratio of 1.55 and a quick ratio of 1.28. The stock has a market cap of $4.36 billion, a price-to-earnings ratio of 289.66 and a beta of 0.61. The business’s 50-day simple moving average is $37.63 and its two-hundred day simple moving average is $33.63.

Golar LNG Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Monday, December 2nd. Investors of record on Monday, November 25th were paid a dividend of $0.25 per share. This represents a $1.00 dividend on an annualized basis and a yield of 2.39%. The ex-dividend date was Monday, November 25th. Golar LNG’s dividend payout ratio is presently 714.34%.

Hedge Funds Weigh In On Golar LNG

A number of hedge funds have recently bought and sold shares of GLNG. Public Employees Retirement System of Ohio bought a new stake in Golar LNG in the third quarter valued at $32,000. Blue Trust Inc. increased its stake in Golar LNG by 105.1% in the third quarter. Blue Trust Inc. now owns 1,372 shares of the shipping company’s stock valued at $50,000 after purchasing an additional 703 shares in the last quarter. Sound Income Strategies LLC bought a new stake in Golar LNG in the third quarter valued at $52,000. CWM LLC increased its stake in Golar LNG by 830.9% in the third quarter. CWM LLC now owns 1,657 shares of the shipping company’s stock valued at $61,000 after purchasing an additional 1,479 shares in the last quarter. Finally, EverSource Wealth Advisors LLC grew its holdings in shares of Golar LNG by 206.2% during the second quarter. EverSource Wealth Advisors LLC now owns 1,727 shares of the shipping company’s stock valued at $54,000 after buying an additional 1,163 shares during the last quarter. Institutional investors own 92.21% of the company’s stock.

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.