Golar LNG (GLNG) Now Covered by Analysts at Scotiabank

Scotiabank started coverage on shares of Golar LNG (NASDAQ:GLNG) in a research note issued to investors on Friday morning, The Fly reports. The firm issued an outperform rating on the shipping company’s stock.

Other analysts have also recently issued research reports about the stock. BidaskClub cut shares of Golar LNG from a strong-buy rating to a buy rating in a report on Tuesday, November 13th. Zacks Investment Research restated a buy rating and set a $30.00 target price on shares of Golar LNG in a report on Tuesday, November 13th. Morgan Stanley boosted their target price on shares of Golar LNG from $32.00 to $35.00 and gave the company a buy rating in a report on Tuesday, November 6th. Jefferies Financial Group set a $40.00 target price on shares of Golar LNG and gave the company a buy rating in a report on Friday, November 2nd. Finally, Bank of America upgraded shares of Golar LNG from a neutral rating to a buy rating and set a $32.00 target price on the stock in a report on Thursday, October 18th. Two research analysts have rated the stock with a sell rating, one has assigned a hold rating and twelve have issued a buy rating to the stock. The company presently has a consensus rating of Buy and a consensus target price of $34.55.

Shares of GLNG stock opened at $21.59 on Friday. Golar LNG has a 12 month low of $20.49 and a 12 month high of $35.54. The firm has a market cap of $2.18 billion, a PE ratio of -14.69 and a beta of 0.78. The company has a current ratio of 0.62, a quick ratio of 0.62 and a debt-to-equity ratio of 0.83.

A number of institutional investors have recently made changes to their positions in GLNG. Capital World Investors bought a new position in Golar LNG during the 3rd quarter valued at about $85,780,000. BlueMountain Capital Management LLC lifted its stake in Golar LNG by 33.0% during the 3rd quarter. BlueMountain Capital Management LLC now owns 2,079,580 shares of the shipping company’s stock valued at $57,812,000 after acquiring an additional 515,701 shares during the period. Point72 Asset Management L.P. lifted its stake in Golar LNG by 152.5% during the 3rd quarter. Point72 Asset Management L.P. now owns 654,594 shares of the shipping company’s stock valued at $18,198,000 after acquiring an additional 395,298 shares during the period. Renaissance Technologies LLC bought a new position in Golar LNG during the 3rd quarter valued at about $10,608,000. Finally, HITE Hedge Asset Management LLC lifted its stake in Golar LNG by 54.2% during the 4th quarter. HITE Hedge Asset Management LLC now owns 575,335 shares of the shipping company’s stock valued at $12,519,000 after acquiring an additional 202,192 shares during the period. Institutional investors own 77.54% of the company’s stock.

About Golar LNG

Golar LNG Limited, a midstream liquefied natural gas (LNG) company, engages in the transportation, regasification, and liquefaction of LNG. It operates through three segments: Vessel operations, Floating Liquefaction Natural Gas Vessel (FLNG), and Power. The company engages 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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The Fly

Analyst Recommendations for Golar LNG (NASDAQ:GLNG)

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