Golar LNG (NASDAQ:GLNG) Stock Rating Lowered by Wall Street Zen

Golar LNG (NASDAQ:GLNG) was downgraded by investment analysts at Wall Street Zen from a “hold” rating to a “sell” rating in a report released on Saturday.

GLNG has been the topic of several other reports. Weiss Ratings reaffirmed a “hold (c-)” rating on shares of Golar LNG in a research report on Wednesday, October 8th. B. Riley restated a “neutral” rating and set a $44.50 price objective on shares of Golar LNG in a report on Monday, August 25th. Zacks Research raised shares of Golar LNG from a “strong sell” rating to a “hold” rating in a research report on Friday, September 12th. BTIG Research reiterated a “buy” rating and issued a $50.00 target price on shares of Golar LNG in a research note on Wednesday. Finally, The Goldman Sachs Group assumed coverage on shares of Golar LNG in a report on Monday, September 29th. They issued a “buy” rating and a $54.00 price target for the company. Three investment analysts have rated the stock with a Strong Buy rating, four have given a Buy rating and three have issued a Hold rating to the company’s stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Buy” and a consensus target price of $50.42.

Golar LNG Stock Up 1.5%

Shares of GLNG traded up $0.56 during midday trading on Friday, reaching $38.98. 173,931 shares of the stock were exchanged, compared to its average volume of 1,480,575. The company has a market capitalization of $4.07 billion, a P/E ratio of -556.78 and a beta of 0.29. The company has a current ratio of 1.47, a quick ratio of 0.85 and a debt-to-equity ratio of 0.63. Golar LNG has a 52 week low of $29.56 and a 52 week high of $45.98. The company’s 50 day moving average is $40.15 and its two-hundred day moving average is $40.72.

Golar LNG (NASDAQ:GLNG) last posted its quarterly earnings results on Thursday, August 14th. The shipping company reported $0.26 EPS for the quarter, missing the consensus estimate of $0.29 by ($0.03). Golar LNG had a negative net margin of 2.83% and a positive return on equity of 6.36%. The business had revenue of $75.67 million during the quarter, compared to the consensus estimate of $79.37 million. On average, sell-side analysts anticipate that Golar LNG will post 1.39 earnings per share for the current year.

Hedge Funds Weigh In On Golar LNG

Several hedge funds and other institutional investors have recently made changes to their positions in GLNG. Quarry LP purchased a new stake in shares of Golar LNG during the first quarter worth approximately $26,000. SVB Wealth LLC purchased a new stake in shares of Golar LNG in the 1st quarter valued at approximately $31,000. Signaturefd LLC raised its position in Golar LNG by 64.6% in the second quarter. Signaturefd LLC now owns 856 shares of the shipping company’s stock valued at $35,000 after purchasing an additional 336 shares during the period. Smartleaf Asset Management LLC raised its position in Golar LNG by 281.9% in the third quarter. Smartleaf Asset Management LLC now owns 909 shares of the shipping company’s stock valued at $37,000 after purchasing an additional 671 shares during the period. Finally, Allworth Financial LP lifted its stake in shares of Golar LNG by 43.5% in the 2nd quarter. Allworth Financial LP now owns 990 shares of the shipping company’s stock valued at $41,000 after purchasing an additional 300 shares during the last quarter. Hedge funds and other institutional investors own 92.21% of the company’s stock.

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.