Golar LNG (NASDAQ:GLNG) Rating Lowered to “Sell” at Wall Street Zen
by Amy Steele · The Cerbat GemGolar LNG (NASDAQ:GLNG – Get Free Report) was downgraded by stock analysts at Wall Street Zen from a “hold” rating to a “sell” rating in a research note issued to investors on Saturday.
GLNG has been the subject of several other research reports. Weiss Ratings reiterated a “hold (c+)” rating on shares of Golar LNG in a report on Monday, December 29th. Zacks Research upgraded shares of Golar LNG from a “strong sell” rating to a “hold” rating in a report on Monday, January 5th. BTIG Research increased their target price on shares of Golar LNG from $50.00 to $53.00 and gave the company a “buy” rating in a report on Wednesday, February 25th. Finally, The Goldman Sachs Group set a $56.00 target price on shares of Golar LNG in a report on Monday, February 2nd. One analyst has rated the stock with a Strong Buy rating, two have given a Buy rating and three have given a Hold rating to the company. According to MarketBeat, Golar LNG presently has an average rating of “Moderate Buy” and an average target price of $51.13.
Read Our Latest Analysis on Golar LNG
Golar LNG Stock Performance
GLNG opened at $52.63 on Friday. The company has a current ratio of 2.55, a quick ratio of 2.55 and a debt-to-equity ratio of 1.19. The company’s fifty day moving average price is $49.71 and its two-hundred day moving average price is $42.70. Golar LNG has a 1-year low of $35.02 and a 1-year high of $56.81. The company has a market cap of $5.33 billion, a price-to-earnings ratio of 82.24 and a beta of 0.11.
Golar LNG (NASDAQ:GLNG – Get Free Report) last announced its earnings results on Saturday, February 14th. The shipping company reported $0.09 EPS for the quarter. The company had revenue of $132.81 million during the quarter. Golar LNG had a net margin of 16.69% and a return on equity of 6.24%. On average, analysts expect that Golar LNG will post 0.58 EPS for the current fiscal year.
Institutional Trading of Golar LNG
A number of large investors have recently added to or reduced their stakes in the stock. AdvisorNet Financial Inc increased its holdings in Golar LNG by 108.5% during the first quarter. AdvisorNet Financial Inc now owns 515 shares of the shipping company’s stock worth $28,000 after buying an additional 268 shares during the last quarter. State of Alaska Department of Revenue increased its holdings in Golar LNG by 6.4% during the fourth quarter. State of Alaska Department of Revenue now owns 4,540 shares of the shipping company’s stock worth $168,000 after buying an additional 274 shares during the last quarter. Franklin Resources Inc. increased its holdings in Golar LNG by 2.2% during the fourth quarter. Franklin Resources Inc. now owns 16,707 shares of the shipping company’s stock worth $622,000 after buying an additional 359 shares during the last quarter. State of Wyoming increased its holdings in Golar LNG by 12.7% during the fourth quarter. State of Wyoming now owns 3,878 shares of the shipping company’s stock worth $144,000 after buying an additional 436 shares during the last quarter. Finally, Legal & General Group Plc increased its holdings in Golar LNG by 2.8% during the second quarter. Legal & General Group Plc now owns 17,100 shares of the shipping company’s stock worth $704,000 after buying an additional 459 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 Ltd. is a leading owner and operator of liquefied natural gas (LNG) carriers and floating infrastructure. The company specializes in the transportation of LNG on long-term and spot charters for major energy firms around the world. In addition to shipping, Golar LNG has broadened its services to include project development and the conversion of existing carriers into Floating Liquefied Natural Gas (FLNG) and Floating Storage and Regasification Unit (FSRU) vessels.
Since pioneering the first purpose-built FLNG conversion project, Golar LNG has been at the forefront of offshore gas monetization.