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

Golar LNG (NASDAQ:GLNG) was downgraded by equities research analysts at StockNews.com from a “hold” rating to a “sell” rating in a report released on Thursday.

Golar LNG Stock Down 0.6 %

Shares of Golar LNG stock traded down $0.16 on Thursday, reaching $25.02. The company’s stock had a trading volume of 961,155 shares, compared to its average volume of 1,130,252. The company has a market capitalization of $2.62 billion, a price-to-earnings ratio of -58.18 and a beta of 0.61. The company has a quick ratio of 1.49, a current ratio of 1.49 and a debt-to-equity ratio of 0.34. Golar LNG has a 52 week low of $19.62 and a 52 week high of $25.90. The firm’s fifty day simple moving average is $23.39 and its two-hundred day simple moving average is $22.71.

Golar LNG (NASDAQ:GLNG) last released its quarterly earnings data on Thursday, February 29th. The shipping company reported $0.90 EPS for the quarter, topping the consensus estimate of $0.50 by $0.40. The company had revenue of $78.65 million during the quarter, compared to the consensus estimate of $76.85 million. Golar LNG had a positive return on equity of 11.67% and a negative net margin of 15.68%. Equities analysts anticipate that Golar LNG will post 1.66 earnings per share for the current year.

Hedge Funds Weigh In On Golar LNG

Institutional investors have recently bought and sold shares of the stock. Denali Advisors LLC bought a new position in shares of Golar LNG in the first quarter worth about $1,049,000. Perpetual Ltd lifted its holdings in Golar LNG by 6.3% during the first quarter. Perpetual Ltd now owns 394,516 shares of the shipping company’s stock valued at $9,386,000 after purchasing an additional 23,289 shares in the last quarter. Goldman Sachs Group Inc. boosted its position in shares of Golar LNG by 6.2% in the fourth quarter. Goldman Sachs Group Inc. now owns 1,238,512 shares of the shipping company’s stock worth $28,473,000 after purchasing an additional 72,672 shares during the period. Penn Capital Management Company LLC increased its stake in shares of Golar LNG by 21.3% in the fourth quarter. Penn Capital Management Company LLC now owns 323,194 shares of the shipping company’s stock worth $7,455,000 after purchasing an additional 56,813 shares in the last quarter. Finally, Nebula Research & Development LLC raised its position in shares of Golar LNG by 89.5% during the 4th quarter. Nebula Research & Development LLC now owns 54,824 shares of the shipping company’s stock valued at $1,260,000 after purchasing an additional 25,899 shares during the period. 92.21% of the stock is owned by institutional investors.

About Golar LNG

Golar LNG Limited designs, owns, and operates marine infrastructure for the liquefaction of natural gas. The company operates through three segments: FLNG, Corporate and Other, and Shipping. It also engages in the regasification, storage, and offloading of liquefied natural gas (LNG); operation of floating liquefaction natural gas (FLNG) vessels; operation of the transportation of LNG carriers; and vessel management.