Golar LNG (NASDAQ:GLNG) Upgraded at StockNews.com

Golar LNG (NASDAQ:GLNG) was upgraded by equities research analysts at StockNews.com to a “sell” rating in a research note issued to investors on Thursday.

Several other equities analysts have also issued reports on GLNG. B. Riley boosted their price target on Golar LNG from $35.50 to $44.50 and gave the company a “buy” rating in a research note on Friday, July 19th. Stifel Nicolaus lowered their target price on Golar LNG from $55.00 to $53.00 and set a “buy” rating on the stock in a research report on Friday, August 16th. BTIG Research upped their target price on Golar LNG from $36.00 to $45.00 and gave the stock a “buy” rating in a research report on Tuesday, June 25th. Finally, Deutsche Bank Aktiengesellschaft increased their price target on Golar LNG from $43.00 to $56.00 and gave the company a “buy” rating in a research report on Friday, August 16th. One investment analyst has rated the stock with a sell rating, one has assigned a hold rating and four have issued a buy rating to the company’s stock. Based on data from MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus price target of $45.10.

Golar LNG Stock Performance

Shares of GLNG stock opened at $34.11 on Thursday. The business’s 50 day simple moving average is $33.19 and its 200 day simple moving average is $28.82. Golar LNG has a one year low of $19.94 and a one year high of $36.52. The stock has a market capitalization of $3.57 billion, a PE ratio of 32.49 and a beta of 0.58. The company has a debt-to-equity ratio of 0.31, a current ratio of 1.24 and a quick ratio of 1.28.

Golar LNG (NASDAQ:GLNG) last issued its quarterly earnings results on Thursday, August 15th. The shipping company reported $0.42 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.44 by ($0.02). Golar LNG had a net margin of 50.89% and a return on equity of 9.20%. The business had revenue of $62.98 million during the quarter, compared to analyst estimates of $67.38 million. As a group, research analysts forecast that Golar LNG will post 1.56 earnings per share for the current year.

Hedge Funds Weigh In On Golar LNG

Several institutional investors and hedge funds have recently bought and sold shares of GLNG. Norges Bank bought a new position in Golar LNG during the 4th quarter worth approximately $23,773,000. Donald Smith & CO. Inc. grew its position in Golar LNG by 32.0% during the 1st quarter. Donald Smith & CO. Inc. now owns 3,586,994 shares of the shipping company’s stock worth $86,303,000 after acquiring an additional 870,233 shares during the last quarter. American Century Companies Inc. grew its position in shares of Golar LNG by 53.7% in the 2nd quarter. American Century Companies Inc. now owns 1,732,655 shares of the shipping company’s stock worth $54,319,000 after buying an additional 605,499 shares during the last quarter. Vanguard Group Inc. grew its position in shares of Golar LNG by 74.4% in the 1st quarter. Vanguard Group Inc. now owns 1,015,644 shares of the shipping company’s stock worth $24,436,000 after buying an additional 433,299 shares during the last quarter. Finally, Driehaus Capital Management LLC bought a new stake in shares of Golar LNG in the 2nd quarter worth approximately $10,554,000. 92.21% of the stock is currently owned by institutional investors.

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.