Golar LNG (NASDAQ:GLNG) had its target price lifted by Morgan Stanley from $32.00 to $35.00 in a research note published on Tuesday morning. Morgan Stanley currently has a buy rating on the shipping company’s stock.
GLNG has been the topic of a number of other research reports. BidaskClub raised Golar LNG from a hold rating to a buy rating in a research note on Saturday, September 22nd. Jefferies Financial Group set a $40.00 price target on Golar LNG and gave the company a buy rating in a research note on Wednesday, August 22nd. B. Riley assumed coverage on Golar LNG in a research note on Thursday, October 4th. They issued a buy rating and a $34.00 price target on the stock. Berenberg Bank assumed coverage on Golar LNG in a research note on Thursday, September 6th. They issued a buy rating and a $32.00 price target on the stock. Finally, Zacks Investment Research raised Golar LNG from a sell rating to a hold rating in a research note on Tuesday, August 28th. One analyst has rated the stock with a hold rating, eleven have given a buy rating and one has assigned a strong buy rating to the company. The stock has an average rating of Buy and an average price target of $36.70.
Shares of GLNG stock traded down $0.78 during trading hours on Tuesday, reaching $28.36. The company had a trading volume of 1,381,711 shares, compared to its average volume of 1,831,378. The company has a quick ratio of 0.62, a current ratio of 0.62 and a debt-to-equity ratio of 0.83. The company has a market cap of $2.99 billion, a P/E ratio of -19.29 and a beta of 0.60. Golar LNG has a 1-year low of $22.45 and a 1-year high of $35.54.
Golar LNG (NASDAQ:GLNG) last posted its quarterly earnings results on Monday, November 5th. The shipping company reported ($0.45) earnings per share for the quarter, missing the Zacks’ consensus estimate of ($0.11) by ($0.34). Golar LNG had a net margin of 27.87% and a return on equity of 1.40%. Research analysts anticipate that Golar LNG will post -1.04 earnings per share for the current fiscal year.
The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, January 3rd. Investors of record on Friday, December 14th will be paid a dividend of $0.15 per share. This represents a $0.60 annualized dividend and a yield of 2.12%. The ex-dividend date of this dividend is Thursday, December 13th. This is an increase from Golar LNG’s previous quarterly dividend of $0.13. Golar LNG’s dividend payout ratio (DPR) is presently -34.01%.
A number of institutional investors have recently modified their holdings of GLNG. Russell Investments Group Ltd. acquired a new stake in Golar LNG during the 1st quarter worth $172,000. LPL Financial LLC raised its stake in Golar LNG by 24.7% during the 1st quarter. LPL Financial LLC now owns 8,943 shares of the shipping company’s stock worth $245,000 after buying an additional 1,769 shares during the period. Bank of Montreal Can raised its stake in Golar LNG by 6,638.0% during the 2nd quarter. Bank of Montreal Can now owns 76,813 shares of the shipping company’s stock worth $2,263,000 after buying an additional 75,673 shares during the period. FNY Investment Advisers LLC acquired a new stake in Golar LNG during the 2nd quarter worth $411,000. Finally, Nisa Investment Advisors LLC raised its stake in Golar LNG by 884.2% during the 2nd quarter. Nisa Investment Advisors LLC now owns 4,675 shares of the shipping company’s stock worth $138,000 after buying an additional 4,200 shares during the period. 82.31% of the stock is currently owned by institutional investors and hedge funds.
Golar LNG Company Profile
Golar LNG Limited, a midstream liquefied natural gas (LNG) company, engages in the transportation, regasification, and liquefaction of LNG. It operates through three segments: Vessel operations, Floating Liquefaction Natural Gas Vessel (FLNG), and Power. The company engages in the acquisition, ownership, operation, and chartering of LNG carriers and floating storage regasification units (FSRUs); and the development of LNG projects.
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