Golar LNG (NASDAQ:GLNG) Shares Up 4.7%

Golar LNG (NASDAQ:GLNG) shares rose 4.7% to $40.96, with a market cap of $4.28 billion. Analysts have upgraded the stock's rating, with a consensus of 'Buy' and a target price of $49.70. The company recently announced a quarterly dividend of $0.25, yielding 2.44%. Institutional investors have increased their stakes significantly, with 92.21% of shares held by hedge funds. Golar LNG operates in the liquefied natural gas sector, focusing on marine infrastructure and shipping.

Golar LNG Limited (NASDAQ:GLNG - Get Free Report)'s stock price was up 4.7% during trading on Wednesday . The stock traded as high as $40.84 and last traded at $40.96. Approximately 352,272 shares changed hands during mid-day trading, a decline of 76% from the average daily volume of 1,456,558 shares. The stock had previously closed at $39.11.

Analyst Ratings Changes

Are These Liquid Natural Gas Stocks Ready For An Upside Bounce?

Several analysts have commented on GLNG shares. Fearnley Fonds raised shares of Golar LNG from a "hold" rating to a "strong-buy" rating in a research note on Wednesday, March 19th. Dnb Nor Markets raised shares of Golar LNG from a "hold" rating to a "strong-buy" rating in a research note on Tuesday, April 22nd. DNB Markets upgraded shares of Golar LNG from a "hold" rating to a "buy" rating and set a $48.00 price objective on the stock in a research note on Tuesday, April 22nd. Finally, Wall Street Zen raised shares of Golar LNG to a "sell" rating in a report on Thursday, March 20th. One analyst has rated the stock with a sell rating, five have assigned a buy rating and two have assigned a strong buy rating to the company's stock. Based on data from MarketBeat, Golar LNG has a consensus rating of "Buy" and an average target price of $49.70.

Check Out Our Latest Stock Analysis on Golar LNG

Golar LNG Trading Up 4.7%

The stock has a market capitalization of $4.28 billion, a PE ratio of 292.46 and a beta of 0.62. The stock's fifty day simple moving average is $38.03 and its 200-day simple moving average is $39.07.

Golar LNG Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Tuesday, March 18th. Stockholders of record on Tuesday, March 11th were issued a $0.25 dividend. This represents a $1.00 annualized dividend and a dividend yield of 2.44%. The ex-dividend date was Tuesday, March 11th. Golar LNG's dividend payout ratio is 208.33%.

Institutional Inflows and Outflows

Large investors have recently made changes to their positions in the stock. Hexagon Capital Partners LLC grew its position in shares of Golar LNG by 358.9% during the 1st quarter. Hexagon Capital Partners LLC now owns 647 shares of the shipping company's stock worth $25,000 after buying an additional 506 shares in the last quarter. Quarry LP acquired a new stake in shares of Golar LNG in the first quarter valued at $26,000. SVB Wealth LLC purchased a new stake in Golar LNG during the 1st quarter worth about $31,000. Bank Julius Baer & Co. Ltd Zurich acquired a new position in Golar LNG during the 4th quarter worth approximately $107,000. Finally, Blue Trust Inc. grew its holdings in shares of Golar LNG by 116.8% in the 4th quarter. Blue Trust Inc. now owns 2,975 shares of the shipping company's stock worth $126,000 after acquiring an additional 1,603 shares during the period. 92.21% of the stock is owned by hedge funds and other institutional investors.

Golar LNG Company Profile

(Get Free Report)

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.

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Golar LNG (NASDAQ:GLNG) Shares Up 4.7% - What's Next?