Golar LNG (NASDAQ:GLNG) Reaches New 52-Week High – Here’s Why

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. The stock had previously closed at $36.92.

Wall Street Analyst Weigh In

Several research firms recently issued reports on GLNG. Fearnley Fonds lowered 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 company a “buy” rating in a research note on Friday, August 16th. StockNews.com raised shares of Golar LNG to a “sell” rating in a research report on Wednesday, November 13th. Finally, Stifel Nicolaus lowered their price objective on shares of Golar LNG from $55.00 to $53.00 and set a “buy” rating on the stock in a research note on Friday, August 16th. One analyst has rated the stock with a sell rating, one has assigned a hold rating and four have given a buy rating to the company. According to MarketBeat.com, Golar LNG currently has an average rating of “Moderate Buy” and an average target price of $49.63.

Golar LNG Stock Down 4.2 %

The firm’s fifty day moving average is $36.99 and its 200 day moving average is $33.13. The company has a debt-to-equity ratio of 0.31, a quick ratio of 1.28 and a current ratio of 1.24. The firm has a market cap of $4.12 billion, a P/E ratio of 282.23 and a beta of 0.58.

Golar LNG Dividend Announcement

The company 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 dividend of $0.25 per share. 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 2.53%. Golar LNG’s dividend payout ratio (DPR) is currently 714.34%.

Institutional Trading of Golar LNG

Several institutional investors have recently added to or reduced their stakes in the company. Vanguard Group Inc. lifted its holdings in shares of Golar LNG by 74.4% during the first quarter. Vanguard Group Inc. now owns 1,015,644 shares of the shipping company’s stock worth $24,436,000 after buying an additional 433,299 shares in the last quarter. SG Americas Securities LLC lifted its position in shares of Golar LNG by 532.0% during the 2nd quarter. SG Americas Securities LLC now owns 133,444 shares of the shipping company’s stock valued at $4,183,000 after acquiring an additional 112,331 shares during the period. Murchinson Ltd. acquired a new stake in shares of Golar LNG during the 2nd quarter worth $1,301,000. Royce & Associates LP increased its position in shares of Golar LNG by 102.5% in the third quarter. Royce & Associates LP now owns 81,000 shares of the shipping company’s stock worth $2,978,000 after purchasing an additional 41,000 shares during the period. Finally, Pinnacle Associates Ltd. raised its stake in Golar LNG by 4.4% in the second quarter. Pinnacle Associates Ltd. now owns 1,500,628 shares of the shipping company’s stock valued at $47,045,000 after purchasing an additional 63,180 shares in the last quarter. 92.21% of the stock is currently owned by institutional investors.

About Golar LNG

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.