Golar LNG (NASDAQ:GLNG) Stock Crosses Above 200-Day Moving Average of $22.41

Golar LNG Limited (NASDAQ:GLNGGet Free Report) passed above its 200-day moving average during trading on Tuesday . The stock has a 200-day moving average of $22.41 and traded as high as $24.28. Golar LNG shares last traded at $24.11, with a volume of 1,681,927 shares changing hands.

Analyst Upgrades and Downgrades

Separately, StockNews.com cut Golar LNG from a “hold” rating to a “sell” rating in a report on Friday, March 8th.

Check Out Our Latest Stock Report on GLNG

Golar LNG Stock Performance

The company has a market cap of $1.94 billion, a price-to-earnings ratio of -56.07 and a beta of 0.59. The business has a fifty day moving average price of $21.92 and a 200 day moving average price of $22.41.

Golar LNG Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, March 20th. Stockholders of record on Tuesday, March 12th will be issued a dividend of $0.25 per share. The ex-dividend date is Monday, March 11th. This represents a $1.00 dividend on an annualized basis and a dividend yield of 4.15%. Golar LNG’s dividend payout ratio (DPR) is currently -232.56%.

Hedge Funds Weigh In On Golar LNG

Several large investors have recently bought and sold shares of the company. Raymond James & Associates increased its stake in shares of Golar LNG by 38.3% in the first quarter. Raymond James & Associates now owns 14,041 shares of the shipping company’s stock valued at $348,000 after buying an additional 3,892 shares during the period. Cambridge Investment Research Advisors Inc. acquired a new position in shares of Golar LNG in the first quarter valued at approximately $1,029,000. Citigroup Inc. increased its stake in shares of Golar LNG by 102.0% in the first quarter. Citigroup Inc. now owns 12,232 shares of the shipping company’s stock valued at $303,000 after buying an additional 630,818 shares during the period. Vanguard Group Inc. increased its position in Golar LNG by 3.2% during the 1st quarter. Vanguard Group Inc. now owns 549,152 shares of the shipping company’s stock valued at $13,609,000 after purchasing an additional 17,040 shares during the period. Finally, Cohanzick Management LLC acquired a new stake in Golar LNG during the 1st quarter valued at approximately $37,000. 89.67% of the stock is currently owned by institutional investors.

About Golar LNG

(Get Free Report)

Golar LNG Limited designs, owns, and operates marine infrastructure for the liquefaction of natural gas. The company operates through three segments: FLNG, Corporate and Other, and Shipping. It also engages in the regasification, storage, and offloading of liquefied natural gas (LNG); operation of floating liquefaction natural gas (FLNG) vessels; operation of the transportation of LNG carriers; and vessel management.

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