Golar LNG (NASDAQ:GLNG) Shares Gap Up – Still a Buy?

Golar LNG Limited (NASDAQ:GLNG)’s stock price gapped up prior to trading on Wednesday . The stock had previously closed at $35.04, but opened at $36.21. Golar LNG shares last traded at $36.83, with a volume of 90,093 shares changing hands.

Wall Street Analyst Weigh In

A number of research analysts have issued reports on GLNG shares. StockNews.com raised Golar LNG to a “sell” rating in a research note on Thursday. Stifel Nicolaus boosted their target price on Golar LNG from $53.00 to $55.00 and gave the company a “buy” rating in a research note on Tuesday, December 24th. Finally, DNB Markets cut Golar LNG from a “buy” rating to a “hold” rating in a research note on Wednesday, February 19th. One analyst has rated the stock with a sell rating, two have assigned a hold rating and four have given a buy rating to the company. Based on data from MarketBeat.com, Golar LNG has an average rating of “Hold” and a consensus target price of $50.13.

Golar LNG Price Performance

The company has a market capitalization of $4.00 billion, a price-to-earnings ratio of 273.59 and a beta of 0.78. The firm has a 50-day moving average price of $38.92 and a two-hundred day moving average price of $38.33.

Golar LNG Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, March 18th. Stockholders of record on Tuesday, March 11th were given a dividend of $0.25 per share. The ex-dividend date of this dividend was Tuesday, March 11th. This represents a $1.00 annualized dividend and a dividend yield of 2.61%. Golar LNG’s dividend payout ratio is currently 208.33%.

Institutional Inflows and Outflows

Several large investors have recently bought and sold shares of the stock. 111 Capital acquired a new position in Golar LNG during the fourth quarter valued at approximately $248,000. Teza Capital Management LLC acquired a new position in Golar LNG during the fourth quarter valued at approximately $2,652,000. Toronto Dominion Bank acquired a new position in Golar LNG during the fourth quarter valued at approximately $1,185,000. Sagefield Capital LP acquired a new position in Golar LNG during the fourth quarter valued at approximately $8,725,000. Finally, ProShare Advisors LLC boosted its position in Golar LNG by 49.0% during the fourth quarter. ProShare Advisors LLC now owns 27,871 shares of the shipping company’s stock valued at $1,180,000 after purchasing an additional 9,169 shares during the last quarter. 92.21% of the stock is owned by institutional investors and hedge funds.

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.