Golar LNG (NASDAQ:GLNG) Raised to Hold at Wall Street Zen

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

A number of other equities analysts also recently issued reports on GLNG. The Goldman Sachs Group set a $56.00 price objective on Golar LNG in a research report on Monday, February 2nd. Zacks Research raised shares of Golar LNG from a “strong sell” rating to a “hold” rating in a research report on Monday, January 5th. Weiss Ratings restated a “hold (c+)” rating on shares of Golar LNG in a report on Monday, December 29th. Finally, BTIG Research reaffirmed a “buy” rating and issued a $50.00 price objective on shares of Golar LNG in a research note on Wednesday, November 5th. Three investment analysts have rated the stock with a Strong Buy rating, three have assigned a Buy rating and three have given a Hold rating to the stock. Based on data from MarketBeat, Golar LNG presently has a consensus rating of “Buy” and a consensus target price of $49.90.

Golar LNG Stock Performance

NASDAQ GLNG opened at $43.44 on Friday. The company has a market capitalization of $4.54 billion, a price-to-earnings ratio of 76.21 and a beta of 0.20. The company has a quick ratio of 1.32, a current ratio of 1.32 and a debt-to-equity ratio of 0.61. Golar LNG has a twelve month low of $29.56 and a twelve month high of $45.98. The stock has a fifty day simple moving average of $39.29 and a 200 day simple moving average of $39.77.

Institutional Trading of Golar LNG

Several large investors have recently modified their holdings of the stock. Caitong International Asset Management Co. Ltd grew its holdings in Golar LNG by 278.2% in the third quarter. Caitong International Asset Management Co. Ltd now owns 658 shares of the shipping company’s stock worth $27,000 after purchasing an additional 484 shares during the period. Smartleaf Asset Management LLC raised its holdings in shares of Golar LNG by 281.9% during 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. Crossingbridge Advisors LLC bought a new position in shares of Golar LNG during the 2nd quarter worth about $41,000. Allworth Financial LP grew 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 buying an additional 300 shares during the period. Finally, Zions Bancorporation National Association UT acquired a new stake in shares of Golar LNG in the 4th quarter valued at about $44,000. Institutional investors and hedge funds 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.