Stifel Nicolaus Forecasts Strong Price Appreciation for Golar LNG (NASDAQ:GLNG) Stock

Golar LNG (NASDAQ:GLNG) had its price target increased by research analysts at Stifel Nicolaus from $53.00 to $55.00 in a note issued to investors on Tuesday,Benzinga reports. The firm presently has a “buy” rating on the shipping company’s stock. Stifel Nicolaus’ price objective suggests a potential upside of 29.69% from the stock’s current price.

A number of other equities analysts also recently issued reports on GLNG. Fearnley Fonds cut shares of Golar LNG from a “strong-buy” rating to a “hold” rating in a research note on Wednesday, November 13th. StockNews.com upgraded Golar LNG to a “sell” rating in a report on Monday, December 9th. One research analyst has rated the stock with a sell rating, one has assigned a hold rating and four have given a buy rating to the stock. Based on data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus price target of $50.13.

Golar LNG Stock Performance

Shares of Golar LNG stock traded up $0.57 on Tuesday, reaching $42.41. 299,348 shares of the stock were exchanged, compared to its average volume of 1,225,645. The company has a quick ratio of 1.28, a current ratio of 1.55 and a debt-to-equity ratio of 0.41. Golar LNG has a twelve month low of $19.94 and a twelve month high of $44.08. The business has a 50 day moving average price of $38.71 and a two-hundred day moving average price of $35.14. The firm has a market capitalization of $4.43 billion, a price-to-earnings ratio of 302.95 and a beta of 0.61.

Hedge Funds Weigh In On Golar LNG

Several hedge funds and other institutional investors have recently bought and sold shares of the company. Banque Cantonale Vaudoise raised its holdings in Golar LNG by 11.1% in the 2nd quarter. Banque Cantonale Vaudoise now owns 4,185 shares of the shipping company’s stock valued at $132,000 after acquiring an additional 417 shares during the last quarter. Beck Capital Management LLC boosted its position in shares of Golar LNG by 0.7% in the second quarter. Beck Capital Management LLC now owns 75,114 shares of the shipping company’s stock worth $2,355,000 after acquiring an additional 558 shares during the last quarter. Blue Trust Inc. grew its holdings in Golar LNG by 105.1% in the third quarter. Blue Trust Inc. now owns 1,372 shares of the shipping company’s stock valued at $50,000 after purchasing an additional 703 shares during the period. Public Employees Retirement System of Ohio purchased a new position in Golar LNG during the third quarter worth approximately $32,000. Finally, The Manufacturers Life Insurance Company boosted its holdings in shares of Golar LNG by 2.9% in the 2nd quarter. The Manufacturers Life Insurance Company now owns 35,580 shares of the shipping company’s stock valued at $1,115,000 after purchasing an additional 992 shares during the last quarter. 92.21% of the stock is owned by institutional investors and hedge funds.

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.