Golar LNG (NASDAQ:GLNG) Trading Up 5.5% – Time to Buy?

Golar LNG Limited (NASDAQ:GLNG) shares shot up 5.5% during mid-day trading on Monday . The stock traded as high as $33.89 and last traded at $32.39. 1,408,032 shares were traded during mid-day trading, an increase of 7% from the average session volume of 1,319,462 shares. The stock had previously closed at $30.70.

Analyst Upgrades and Downgrades

GLNG has been the topic of several recent research reports. Fearnley Fonds raised Golar LNG from a “hold” rating to a “strong-buy” rating in a report on Wednesday, March 19th. StockNews.com raised Golar LNG to a “sell” rating in a report on Thursday, March 20th. DNB Markets downgraded shares of Golar LNG from a “buy” rating to a “hold” rating in a report on Wednesday, February 19th. Finally, Stifel Nicolaus boosted their price objective on shares of Golar LNG from $53.00 to $55.00 and gave the company a “buy” rating in a research note on Tuesday, December 24th. One research analyst has rated the stock with a sell rating, one has assigned a hold rating, four have issued a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $50.13.

Golar LNG Trading Up 5.6 %

The stock’s fifty day moving average price is $37.93 and its 200 day moving average price is $38.83. The stock has a market cap of $3.39 billion, a P/E ratio of 231.59 and a beta of 0.47.

Golar LNG Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Tuesday, March 18th. Investors of record on Tuesday, March 11th were paid a $0.25 dividend. The ex-dividend date was Tuesday, March 11th. This represents a $1.00 dividend on an annualized basis and a yield of 3.08%. Golar LNG’s dividend payout ratio is presently 208.33%.

Institutional Investors Weigh In On Golar LNG

Several hedge funds have recently added to or reduced their stakes in the company. Public Employees Retirement System of Ohio bought a new stake in Golar LNG in the 3rd quarter worth approximately $32,000. USA Financial Formulas purchased a new position in shares of Golar LNG during the fourth quarter worth approximately $61,000. Bank Julius Baer & Co. Ltd Zurich bought a new stake in shares of Golar LNG in the 4th quarter worth approximately $107,000. Blue Trust Inc. boosted its stake in shares of Golar LNG by 116.8% in the 4th quarter. Blue Trust Inc. now owns 2,975 shares of the shipping company’s stock valued at $126,000 after purchasing an additional 1,603 shares in the last quarter. Finally, J.Safra Asset Management Corp bought a new position in shares of Golar LNG during the 4th quarter valued at $141,000. 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.