Golar LNG (NASDAQ:GLNG) Rating Lowered to “Sell” at Wall Street Zen

Golar LNG (NASDAQ:GLNG) was downgraded by research analysts at Wall Street Zen from a “hold” rating to a “sell” rating in a research note issued to investors on Saturday.

A number of other equities research analysts have also recently issued reports on the company. Weiss Ratings reiterated a “hold (c+)” rating on shares of Golar LNG in a research note on Monday, December 29th. The Goldman Sachs Group set a $56.00 price target on shares of Golar LNG in a research note on Monday, February 2nd. Zacks Research upgraded shares of Golar LNG from a “strong sell” rating to a “hold” rating in a research report on Monday, January 5th. Finally, BTIG Research upped their price target on shares of Golar LNG from $50.00 to $53.00 and gave the stock a “buy” rating in a report on Wednesday. Three investment analysts have rated the stock with a Strong Buy rating, three have given a Buy rating and three have issued a Hold rating to the company. Based on data from MarketBeat, the stock presently has a consensus rating of “Buy” and an average price target of $50.50.

Golar LNG Price Performance

Shares of NASDAQ GLNG opened at $44.46 on Friday. The company has a current ratio of 1.32, a quick ratio of 1.32 and a debt-to-equity ratio of 0.61. Golar LNG has a 52 week low of $29.56 and a 52 week high of $46.23. The stock has a market cap of $4.65 billion, a price-to-earnings ratio of 69.47 and a beta of 0.20. The company’s 50-day moving average price is $40.69 and its 200 day moving average price is $40.01.

Golar LNG (NASDAQ:GLNG) last issued its earnings results on Wednesday, February 25th. The shipping company reported $0.30 earnings per share for the quarter, missing analysts’ consensus estimates of $0.38 by ($0.08). Golar LNG had a net margin of 16.69% and a return on equity of 6.06%. The firm had revenue of $132.81 million during the quarter, compared to analyst estimates of $123.29 million. As a group, research analysts forecast that Golar LNG will post 1.39 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Golar LNG

Institutional investors have recently modified their holdings of the stock. State of Alaska Department of Revenue lifted its holdings in shares of 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 purchasing an additional 274 shares during the period. Allworth Financial LP grew its holdings in Golar LNG by 43.5% in the second quarter. Allworth Financial LP now owns 990 shares of the shipping company’s stock worth $41,000 after purchasing an additional 300 shares during the period. Franklin Resources Inc. grew its stake in Golar LNG by 2.2% in the fourth quarter. Franklin Resources Inc. now owns 16,707 shares of the shipping company’s stock valued at $622,000 after acquiring an additional 359 shares during the period. Metis Global Partners LLC raised its holdings in Golar LNG by 6.1% during the second quarter. Metis Global Partners LLC now owns 6,829 shares of the shipping company’s stock worth $281,000 after buying an additional 395 shares during the last quarter. Finally, State of Wyoming grew its stake in shares of Golar LNG by 12.7% in the 4th quarter. State of Wyoming now owns 3,878 shares of the shipping company’s stock worth $144,000 after acquiring an additional 436 shares in the last quarter. 92.21% of the stock is currently owned by institutional investors and hedge funds.

About Golar LNG

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.