Golar LNG (NASDAQ:GLNG) Upgraded at StockNews.com

by · The Markets Daily

StockNews.com upgraded shares of Golar LNG (NASDAQ:GLNG – Free Report) to a sell rating in a research report released on Wednesday.

A number of other equities analysts also recently weighed in on GLNG. Deutsche Bank Aktiengesellschaft boosted their target price on shares of Golar LNG from $43.00 to $56.00 and gave the stock a “buy” rating in a research note on Friday, August 16th. B. Riley boosted their target price 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. Finally, Stifel Nicolaus dropped their target price on shares of Golar LNG from $55.00 to $53.00 and set a “buy” rating for the company in a research note on Friday, August 16th. One investment analyst has rated the stock with a sell rating, one has assigned a hold rating and four have given a buy rating to the company’s stock. According to data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average target price of $49.63.

View Our Latest Stock Report on GLNG

Golar LNG Trading Down 2.8 %

Shares of GLNG stock opened at $34.00 on Wednesday. Golar LNG has a 12-month low of $19.94 and a 12-month high of $39.40. The company has a market capitalization of $3.55 billion, a P/E ratio of 25.37 and a beta of 0.58. The firm has a 50-day moving average price of $36.19 and a 200 day moving average price of $32.38. The company has a quick ratio of 1.28, a current ratio of 1.24 and a debt-to-equity ratio of 0.31.

Golar LNG (NASDAQ:GLNG – Get Free Report) last announced its quarterly earnings results on Thursday, August 15th. The shipping company reported $0.42 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.44 by ($0.02). Golar LNG had a net margin of 50.89% and a return on equity of 9.20%. The firm had revenue of $62.98 million for the quarter, compared to the consensus estimate of $67.38 million. Research analysts forecast that Golar LNG will post 1.53 earnings per share for the current fiscal year.

Golar LNG Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Monday, December 2nd. Stockholders of record on Monday, November 25th will be given a dividend of $0.25 per share. This represents a $1.00 annualized dividend and a dividend yield of 2.94%. The ex-dividend date of this dividend is Monday, November 25th. Golar LNG’s dividend payout ratio is 74.63%.

Institutional Investors Weigh In On Golar LNG

Several institutional investors have recently modified their holdings of the business. Donald Smith & CO. Inc. grew its holdings in 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 valued at $86,303,000 after purchasing an additional 870,233 shares during the period. Healthcare of Ontario Pension Plan Trust Fund lifted its position in shares of 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. State Street Corp lifted its position in shares of Golar LNG by 5.2% in the third quarter. State Street Corp now owns 1,920,590 shares of the shipping company’s stock worth $70,601,000 after purchasing an additional 94,336 shares in the last quarter. American Century Companies Inc. lifted its position in shares of Golar LNG by 53.7% in the second quarter. American Century Companies Inc. now owns 1,732,655 shares of the shipping company’s stock worth $54,319,000 after purchasing an additional 605,499 shares in the last quarter. Finally, Pinnacle Associates Ltd. lifted its position in shares of Golar LNG by 4.4% in the second quarter. Pinnacle Associates Ltd. now owns 1,500,628 shares of the shipping company’s stock worth $47,045,000 after purchasing an additional 63,180 shares in the last quarter. Institutional investors and hedge funds own 92.21% of the company’s stock.

Golar LNG Company Profile

(Get Free Report)

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.

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