ValuEngine lowered shares of Golar LNG (NASDAQ:GLNG) from a buy rating to a hold rating in a research note issued to investors on Monday.
A number of other equities research analysts have also recently commented on the stock. Zacks Investment Research cut shares of Golar LNG from a hold rating to a sell rating in a research report on Wednesday, May 9th. BidaskClub raised shares of Golar LNG from a hold rating to a buy rating in a research report on Friday, May 4th. Stifel Nicolaus reissued a buy rating and set a $42.00 target price (up previously from $36.00) on shares of Golar LNG in a research report on Thursday, April 19th. Cowen increased their target price on shares of Golar LNG to $49.00 and gave the company an outperform rating in a research report on Wednesday, February 28th. Finally, Morgan Stanley increased their target price on shares of Golar LNG from $32.00 to $36.00 and gave the company an equal weight rating in a research report on Monday, February 12th. One equities research analyst has rated the stock with a sell rating, two have given a hold rating and six have issued a buy rating to the company. Golar LNG presently has an average rating of Buy and a consensus target price of $38.40.
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NASDAQ:GLNG traded up $0.08 during midday trading on Monday, reaching $34.06. 6,677 shares of the stock traded hands, compared to its average volume of 1,089,996. Golar LNG has a 12-month low of $33.34 and a 12-month high of $33.80. The company has a quick ratio of 0.29, a current ratio of 0.29 and a debt-to-equity ratio of 0.57. The stock has a market capitalization of $3.40 billion, a price-to-earnings ratio of -23.07 and a beta of 0.74.
Golar LNG (NASDAQ:GLNG) last posted its earnings results on Wednesday, February 28th. The shipping company reported ($0.11) EPS for the quarter, beating the Zacks’ consensus estimate of ($0.28) by $0.17. Golar LNG had a negative net margin of 125.20% and a negative return on equity of 8.11%. The company had revenue of $57.59 million during the quarter, compared to analysts’ expectations of $43.87 million. analysts expect that Golar LNG will post 0.06 EPS for the current year.
Hedge funds and other institutional investors have recently bought and sold shares of the business. Hudson Bay Capital Management LP purchased a new position in shares of Golar LNG in the fourth quarter worth $2,910,000. Brown Advisory Inc. raised its holdings in shares of Golar LNG by 33.0% in the fourth quarter. Brown Advisory Inc. now owns 62,745 shares of the shipping company’s stock worth $1,870,000 after buying an additional 15,575 shares during the last quarter. Huber Capital Management LLC raised its holdings in shares of Golar LNG by 23.5% in the fourth quarter. Huber Capital Management LLC now owns 829,940 shares of the shipping company’s stock worth $24,741,000 after buying an additional 158,134 shares during the last quarter. Granite Point Capital Management L.P. raised its holdings in shares of Golar LNG by 3.4% in the fourth quarter. Granite Point Capital Management L.P. now owns 150,000 shares of the shipping company’s stock worth $4,472,000 after buying an additional 5,000 shares during the last quarter. Finally, Ascend Capital LLC raised its holdings in shares of Golar LNG by 67.5% in the fourth quarter. Ascend Capital LLC now owns 1,737,895 shares of the shipping company’s stock worth $51,807,000 after buying an additional 700,436 shares during the last quarter. 81.88% of the stock is owned by institutional investors and hedge funds.
About Golar LNG
Golar LNG Limited, a midstream liquefied natural gas (LNG) company, engages in the transportation, regasification, liquefaction, and trading of LNG. The company operates through Vessel Operations, LNG Trading, FLNG, and Power segments. It is involved in the acquisition, ownership, operation, and chartering of LNG carriers and floating storage regasification units (FSRUs); and the development of LNG projects.
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