Golar LNG Limited (NASDAQ:GLNG) Given Average Rating of “Moderate Buy” by Analysts

Golar LNG Limited (NASDAQ:GLNG) has earned an average rating of “Moderate Buy” from the six ratings firms that are currently covering the company, MarketBeat reports. Two analysts have rated the stock with a hold rating and four have given a buy rating to the company. The average twelve-month price objective among brokerages that have updated their coverage on the stock in the last year is $50.13.

GLNG has been the topic of a number of analyst reports. DNB Markets cut Golar LNG from a “buy” rating to a “hold” rating in a research report on Wednesday. StockNews.com upgraded Golar LNG to a “sell” rating in a research report on Monday, December 9th. Stifel Nicolaus upped their price target on Golar LNG from $53.00 to $55.00 and gave the company a “buy” rating in a research report on Tuesday, December 24th. Finally, Fearnley Fonds cut Golar LNG from a “strong-buy” rating to a “hold” rating in a research report on Wednesday, November 13th.

Hedge Funds Weigh In On Golar LNG

A number of institutional investors and hedge funds have recently bought and sold shares of GLNG. Naria Inc. acquired a new position in Golar LNG in the fourth quarter worth $435,226,000. Healthcare of Ontario Pension Plan Trust Fund boosted its stake in Golar LNG by 467.9% in the third 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 purchasing an additional 1,843,100 shares in the last quarter. Millennium Management LLC lifted its stake in shares of Golar LNG by 49.2% during the fourth quarter. Millennium Management LLC now owns 4,638,045 shares of the shipping company’s stock valued at $196,282,000 after acquiring an additional 1,529,884 shares during the period. Encompass Capital Advisors LLC acquired a new position in shares of Golar LNG during the fourth quarter valued at $55,413,000. Finally, Clearline Capital LP acquired a new position in shares of Golar LNG during the third quarter valued at $36,865,000. Institutional investors and hedge funds own 92.21% of the company’s stock.

Golar LNG Price Performance

Shares of NASDAQ:GLNG opened at $38.95 on Friday. The business’s fifty day moving average price is $41.44 and its two-hundred day moving average price is $38.01. Golar LNG has a fifty-two week low of $19.94 and a fifty-two week high of $44.36. The stock has a market capitalization of $4.07 billion, a price-to-earnings ratio of 278.23 and a beta of 0.55.

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.