Golar LNG Target of Unusually Large Options Trading (NASDAQ:GLNG)

Golar LNG Limited (NASDAQ:GLNG) was the recipient of some unusual options trading on Wednesday. Stock traders purchased 5,445 call options on the company. This is an increase of approximately 88% compared to the average volume of 2,903 call options.

Wall Street Analysts Forecast Growth

GLNG has been the topic of a number of research reports. Stifel Nicolaus boosted their target price on shares of Golar LNG from $53.00 to $55.00 and gave the stock a “buy” rating in a research report on Tuesday, December 24th. StockNews.com upgraded Golar LNG to a “sell” rating in a research report on Monday, December 9th. Finally, DNB Markets lowered shares of Golar LNG from a “buy” rating to a “hold” rating in a research report on Wednesday, February 19th. One investment analyst has rated the stock with a sell rating, two have assigned a hold rating and four have issued a buy rating to the stock. Based on data from MarketBeat.com, the company has a consensus rating of “Hold” and a consensus price target of $50.13.

Institutional Inflows and Outflows

A number of institutional investors have recently bought and sold shares of GLNG. Barclays PLC raised its holdings in Golar LNG by 431.3% during the 3rd quarter. Barclays PLC now owns 185,018 shares of the shipping company’s stock worth $6,802,000 after buying an additional 150,195 shares during the period. De Lisle Partners LLP raised its holdings in shares of Golar LNG by 9.1% during the third quarter. De Lisle Partners LLP now owns 249,390 shares of the shipping company’s stock worth $9,169,000 after acquiring an additional 20,890 shares during the period. Healthcare of Ontario Pension Plan Trust Fund lifted its position in Golar LNG by 467.9% in the 3rd quarter. Healthcare of Ontario Pension Plan Trust Fund now owns 2,237,000 shares of the shipping company’s stock valued at $82,232,000 after acquiring an additional 1,843,100 shares in the last quarter. JPMorgan Chase & Co. boosted its stake in Golar LNG by 37.0% in the 3rd quarter. JPMorgan Chase & Co. now owns 218,971 shares of the shipping company’s stock worth $8,049,000 after purchasing an additional 59,188 shares during the period. Finally, Royce & Associates LP increased its holdings in Golar LNG by 102.5% during the 3rd 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 in the last quarter. Institutional investors and hedge funds own 92.21% of the company’s stock.

Golar LNG Trading Up 5.5 %

Shares of NASDAQ:GLNG traded up $1.94 during midday trading on Wednesday, hitting $36.98. The company had a trading volume of 590,898 shares, compared to its average volume of 1,201,294. Golar LNG has a 12 month low of $23.45 and a 12 month high of $44.36. The firm has a fifty day simple moving average of $39.08 and a 200 day simple moving average of $38.34. The stock has a market cap of $3.86 billion, a price-to-earnings ratio of 264.14 and a beta of 0.78.

Golar LNG Announces Dividend

The business also recently announced 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 was Tuesday, March 11th. This represents a $1.00 annualized dividend and a dividend yield of 2.70%. Golar LNG’s payout ratio is currently 208.33%.

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.