Wall Street Zen Upgrades Golar LNG (NASDAQ:GLNG) to “Hold”

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

A number of other equities analysts also recently issued reports on the company. BTIG Research upped their price target on Golar LNG from $50.00 to $53.00 and gave the stock a “buy” rating in a research report on Wednesday, February 25th. Zacks Research raised 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 research note on Monday, December 29th. Finally, The Goldman Sachs Group set a $56.00 target price on Golar LNG in a research report on Monday, February 2nd. Two investment analysts have rated the stock with a Strong Buy rating, three have issued a Buy rating and three have assigned a Hold rating to the stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $50.50.

Get Our Latest Stock Report on GLNG

Golar LNG Stock Up 1.8%

NASDAQ:GLNG opened at $55.03 on Friday. The company’s 50-day simple moving average is $44.78 and its 200-day simple moving average is $40.78. The company has a debt-to-equity ratio of 1.19, a quick ratio of 1.32 and a current ratio of 2.55. Golar LNG has a fifty-two week low of $29.56 and a fifty-two week high of $55.80. The stock has a market capitalization of $5.75 billion, a P/E ratio of 85.99 and a beta of 0.18.

Golar LNG (NASDAQ:GLNGGet Free Report) last posted its quarterly earnings data on Wednesday, February 25th. The shipping company reported $0.30 EPS for the quarter, missing the consensus estimate of $0.38 by ($0.08). Golar LNG had a return on equity of 6.24% and a net margin of 16.69%.The firm had revenue of $132.81 million for the quarter, compared to the consensus estimate of $123.29 million. On average, equities analysts anticipate that Golar LNG will post 1.39 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Golar LNG

A number of institutional investors have recently bought and sold shares of GLNG. Caitong International Asset Management Co. Ltd boosted its holdings in shares of Golar LNG by 278.2% in the 3rd quarter. Caitong International Asset Management Co. Ltd now owns 658 shares of the shipping company’s stock valued at $27,000 after acquiring an additional 484 shares during the last quarter. 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 worth $37,000 after purchasing an additional 671 shares during the last quarter. Zions Bancorporation National Association UT purchased a new position in shares of Golar LNG during the fourth quarter worth $44,000. EverSource Wealth Advisors LLC lifted its position in Golar LNG by 94.0% during the second quarter. EverSource Wealth Advisors LLC now owns 1,356 shares of the shipping company’s stock valued at $56,000 after purchasing an additional 657 shares during the period. Finally, Brown Brothers Harriman & Co. purchased a new stake in Golar LNG in the fourth quarter valued at $65,000. 92.21% of the stock is owned by hedge funds and other institutional investors.

Key Stories Impacting Golar LNG

Here are the key news stories impacting Golar LNG this week:

Golar LNG Company Profile

(Get Free Report)

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.

Further Reading

Analyst Recommendations for Golar LNG (NASDAQ:GLNG)

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