Golar LNG (NASDAQ:GLNG) Sees Strong Trading Volume – Time to Buy?

Shares of Golar LNG Limited (NASDAQ:GLNG) saw unusually-strong trading volume on Monday . Approximately 2,265,243 shares changed hands during mid-day trading, an increase of 86% from the previous session’s volume of 1,219,820 shares.The stock last traded at $40.02 and had previously closed at $37.76.

Analyst Upgrades and Downgrades

GLNG has been the topic of several research analyst reports. StockNews.com upgraded Golar LNG to a “sell” rating in a report on Thursday, March 20th. DNB Markets cut shares of Golar LNG from a “buy” rating to a “hold” rating in a research report on Wednesday, February 19th. Stifel Nicolaus upped 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. Finally, Fearnley Fonds upgraded Golar LNG from a “hold” rating to a “strong-buy” rating in a research report on Wednesday, March 19th. One analyst has rated the stock with a sell rating, one has issued a hold rating, four have issued a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus price target of $50.13.

Golar LNG Stock Down 1.0 %

The firm has a market capitalization of $4.17 billion, a price-to-earnings ratio of 284.79 and a beta of 0.78. The business’s fifty day moving average is $38.80 and its 200 day moving average is $38.58.

Golar LNG Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Tuesday, March 18th. Stockholders of record on Tuesday, March 11th were issued a $0.25 dividend. The ex-dividend date was Tuesday, March 11th. This represents a $1.00 dividend on an annualized basis and a dividend yield of 2.50%. Golar LNG’s dividend payout ratio (DPR) is 208.33%.

Institutional Investors Weigh In On Golar LNG

Hedge funds and other institutional investors have recently bought and sold shares of the company. 111 Capital acquired a new stake in shares of Golar LNG in the fourth quarter valued at approximately $248,000. Teza Capital Management LLC bought a new stake in Golar LNG during the 4th quarter worth about $2,652,000. Toronto Dominion Bank acquired a new position in shares of Golar LNG during the 4th quarter worth about $1,185,000. Sagefield Capital LP bought a new position in shares of Golar LNG in the 4th quarter valued at about $8,725,000. Finally, ProShare Advisors LLC increased its position in shares of Golar LNG by 49.0% in the fourth quarter. ProShare Advisors LLC now owns 27,871 shares of the shipping company’s stock valued at $1,180,000 after acquiring an additional 9,169 shares during 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.