Golar LNG (NASDAQ:GLNG) Upgraded at Wall Street Zen

by · The Markets Daily

Wall Street Zen upgraded shares of Golar LNG (NASDAQ:GLNG – Free Report) from a sell rating to a hold rating in a research report sent to investors on Friday morning.

Several other brokerages also recently commented on GLNG. Fearnley Fonds raised Golar LNG from a “hold” rating to a “strong-buy” rating in a report on Wednesday, March 19th. BTIG Research reaffirmed a “buy” rating on shares of Golar LNG in a report on Wednesday, May 28th. DNB Markets raised Golar LNG from a “hold” rating to a “buy” rating and set a $48.00 target price for the company in a report on Tuesday, April 22nd. Finally, Dnb Nor Markets raised Golar LNG from a “hold” rating to a “strong-buy” rating in a report on Tuesday, April 22nd. One analyst has rated the stock with a hold rating, five have issued a buy rating and two have assigned a strong buy rating to the company. According to data from MarketBeat, Golar LNG has an average rating of “Buy” and an average price target of $50.88.

View Our Latest Research Report on GLNG

Golar LNG Trading Down 0.6%

Shares of GLNG stock opened at $41.42 on Friday. The stock has a 50-day simple moving average of $40.51 and a 200 day simple moving average of $39.54. Golar LNG has a fifty-two week low of $29.29 and a fifty-two week high of $44.36. The stock has a market capitalization of $4.33 billion, a P/E ratio of 1,381.13 and a beta of 0.57. The company has a quick ratio of 0.85, a current ratio of 0.85 and a debt-to-equity ratio of 0.38.

Golar LNG (NASDAQ:GLNG – Get Free Report) last announced its earnings results on Tuesday, May 27th. The shipping company reported $0.38 earnings per share for the quarter, beating the consensus estimate of $0.29 by $0.09. Golar LNG had a return on equity of 6.82% and a net margin of 1.04%. The business had revenue of $63.00 million during the quarter, compared to analysts’ expectations of $64.90 million. On average, sell-side analysts expect that Golar LNG will post 1.39 earnings per share for the current fiscal year.

Golar LNG Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Tuesday, June 10th. Stockholders of record on Tuesday, June 3rd were paid a dividend of $0.25 per share. This represents a $1.00 dividend on an annualized basis and a dividend yield of 2.41%. The ex-dividend date was Tuesday, June 3rd. Golar LNG’s dividend payout ratio (DPR) is presently 3,333.33%.

Institutional Investors Weigh In On Golar LNG

A number of hedge funds and other institutional investors have recently made changes to their positions in the company. Naria Inc. purchased a new stake in shares of Golar LNG during the 4th quarter worth about $435,226,000. Millennium Management LLC raised its stake in shares of Golar LNG by 49.2% during the 4th quarter. Millennium Management LLC now owns 4,638,045 shares of the shipping company’s stock worth $196,282,000 after purchasing an additional 1,529,884 shares in the last quarter. Encompass Capital Advisors LLC increased its holdings in shares of Golar LNG by 73.8% during the 1st quarter. Encompass Capital Advisors LLC now owns 2,276,083 shares of the shipping company’s stock valued at $86,468,000 after acquiring an additional 966,692 shares during the last quarter. Appian Way Asset Management LP increased its holdings in shares of Golar LNG by 6.2% during the 1st quarter. Appian Way Asset Management LP now owns 1,524,621 shares of the shipping company’s stock valued at $57,920,000 after acquiring an additional 89,199 shares during the last quarter. Finally, UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC acquired a new position in shares of Golar LNG during the 1st quarter valued at about $44,682,000. 92.21% of the stock is owned by hedge funds and other institutional investors.

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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