Golar LNG (NASDAQ:GLNG) Trading Down 2.2%

Golar LNG Limited (NASDAQ:GLNG)’s stock price fell 2.2% on Thursday . The stock traded as low as $32.59 and last traded at $32.83. 1,438,746 shares changed hands during trading, an increase of 19% from the average session volume of 1,212,443 shares. The stock had previously closed at $33.56.

Analyst Upgrades and Downgrades

A number of analysts recently issued reports on the company. Deutsche Bank Aktiengesellschaft increased their target price on Golar LNG from $43.00 to $56.00 and gave the stock a “buy” rating in a research note on Friday. StockNews.com downgraded shares of Golar LNG from a “hold” rating to a “sell” rating in a research report on Wednesday, July 24th. Stifel Nicolaus reduced their target price on shares of Golar LNG from $55.00 to $53.00 and set a “buy” rating for the company in a research note on Friday. BTIG Research boosted their price target on Golar LNG from $36.00 to $45.00 and gave the company a “buy” rating in a report on Tuesday, June 25th. Finally, B. Riley increased their price objective on Golar LNG from $35.50 to $44.50 and gave the stock a “buy” rating in a report on Friday, July 19th. One analyst has rated the stock with a sell rating, one has issued a hold rating and four have issued a buy rating to the company’s stock. According to data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average price target of $45.10.

Golar LNG Price Performance

The stock has a market cap of $3.43 billion, a price-to-earnings ratio of 31.28 and a beta of 0.64. The company has a debt-to-equity ratio of 0.34, a quick ratio of 1.49 and a current ratio of 1.49. The company has a 50-day simple moving average of $32.28 and a two-hundred day simple moving average of $26.88.

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

Golar LNG Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Tuesday, September 3rd. Investors of record on Monday, August 26th will be paid a $0.25 dividend. The ex-dividend date is Monday, August 26th. This represents a $1.00 annualized dividend and a yield of 3.05%. Golar LNG’s dividend payout ratio (DPR) is currently 95.24%.

Hedge Funds Weigh In On Golar LNG

Institutional investors have recently bought and sold shares of the business. Lowe Wealth Advisors LLC acquired a new position in shares of Golar LNG during the 2nd quarter worth approximately $45,000. EverSource Wealth Advisors LLC grew its stake in Golar LNG by 206.2% in the 2nd 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. Quarry LP grew its position in shares of Golar LNG by 1,559.3% in the second quarter. Quarry LP now owns 2,323 shares of the shipping company’s stock valued at $73,000 after purchasing an additional 2,183 shares during the last quarter. Headlands Technologies LLC acquired a new stake in Golar LNG during the 4th quarter worth approximately $117,000. Finally, Zurcher Kantonalbank Zurich Cantonalbank grew its holdings in Golar LNG by 26,805.3% in the 4th quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 5,112 shares of the shipping company’s stock valued at $118,000 after buying an additional 5,093 shares in the last quarter. Institutional investors and hedge funds 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.