Golar LNG (NASDAQ:GLNG) Stock Rating Upgraded by StockNews.com

Golar LNG (NASDAQ:GLNG) was upgraded by StockNews.com to a “sell” rating in a research report issued to clients and investors on Wednesday.

GLNG has been the subject of a number of other reports. B. Riley lifted their price objective on shares of Golar LNG from $35.50 to $44.50 and gave the stock a “buy” rating in a research note on Friday, July 19th. Stifel Nicolaus dropped their price target on Golar LNG from $55.00 to $53.00 and set a “buy” rating for the company in a research report on Friday, August 16th. Finally, Deutsche Bank Aktiengesellschaft boosted their price objective on Golar LNG from $43.00 to $56.00 and gave the stock a “buy” rating in a research note on Friday, August 16th. One research analyst has rated the stock with a sell rating and four have issued a buy rating to the stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $49.63.

Golar LNG Stock Performance

NASDAQ GLNG opened at $34.99 on Wednesday. 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 has a 1-year low of $19.94 and a 1-year high of $39.40. The business has a 50 day simple moving average of $36.13 and a two-hundred day simple moving average of $32.37. The stock has a market capitalization of $3.66 billion, a PE ratio of 26.23 and a beta of 0.58.

Golar LNG (NASDAQ:GLNG) last posted its earnings results on Thursday, August 15th. The shipping company reported $0.42 earnings per share for the quarter, missing analysts’ consensus estimates of $0.44 by ($0.02). The business had revenue of $62.98 million during the quarter, compared to analysts’ expectations of $67.38 million. Golar LNG had a net margin of 50.89% and a return on equity of 9.20%. On average, research analysts predict that Golar LNG will post 1.53 EPS for the current fiscal year.

Institutional Inflows and Outflows

Several large investors have recently modified their holdings of GLNG. Healthcare of Ontario Pension Plan Trust Fund lifted its stake in shares of Golar LNG by 467.9% during the 3rd quarter. Healthcare of Ontario Pension Plan Trust Fund now owns 2,237,000 shares of the shipping company’s stock worth $82,232,000 after acquiring an additional 1,843,100 shares during the last quarter. Donald Smith & CO. Inc. lifted its position in shares of Golar LNG by 32.0% during the first quarter. Donald Smith & CO. Inc. now owns 3,586,994 shares of the shipping company’s stock worth $86,303,000 after purchasing an additional 870,233 shares during the last quarter. American Century Companies Inc. boosted its stake in shares of Golar LNG by 53.7% during the second quarter. American Century Companies Inc. now owns 1,732,655 shares of the shipping company’s stock valued at $54,319,000 after purchasing an additional 605,499 shares during the period. Vanguard Group Inc. grew its holdings in shares of Golar LNG by 74.4% in the first quarter. Vanguard Group Inc. now owns 1,015,644 shares of the shipping company’s stock worth $24,436,000 after purchasing an additional 433,299 shares during the last quarter. Finally, Appian Way Asset Management LP bought a new position in shares of Golar LNG in the third quarter worth about $15,351,000. Hedge funds and other institutional investors own 92.21% of the company’s stock.

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.