Golar LNG Limited (NASDAQ:GLNG) Given Consensus Recommendation of “Buy” by Analysts

Golar LNG Limited (NASDAQ:GLNG) has received a consensus rating of “Buy” from the nine brokerages that are currently covering the company, Marketbeat.com reports. Three investment analysts have rated the stock with a hold rating, three have assigned a buy rating and three have assigned a strong buy rating to the company. The average 12-month target price among brokerages that have issued ratings on the stock in the last year is $49.90.

A number of analysts have weighed in on the stock. Zacks Research raised shares of Golar LNG from a “strong sell” rating to a “hold” rating in a report on Monday, January 5th. BTIG Research reaffirmed a “buy” rating and set a $50.00 price objective on shares of Golar LNG in a research report on Wednesday, November 5th. The Goldman Sachs Group set a $56.00 target price on Golar LNG in a research report on Monday, February 2nd. Weiss Ratings restated a “hold (c+)” rating on shares of Golar LNG in a research note on Monday, December 29th. Finally, Wall Street Zen downgraded Golar LNG from a “hold” rating to a “sell” rating in a research report on Saturday, December 20th.

Golar LNG Stock Performance

GLNG opened at $42.27 on Friday. The company has a quick ratio of 1.32, a current ratio of 1.32 and a debt-to-equity ratio of 0.61. The stock’s 50 day moving average price is $38.72 and its two-hundred day moving average price is $39.66. The firm has a market capitalization of $4.42 billion, a P/E ratio of 74.16 and a beta of 0.20. Golar LNG has a 12-month low of $29.56 and a 12-month high of $45.98.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently bought and sold shares of GLNG. GSA Capital Partners LLP increased its holdings in Golar LNG by 10.8% in the 4th quarter. GSA Capital Partners LLP now owns 81,431 shares of the shipping company’s stock valued at $3,030,000 after buying an additional 7,905 shares during the period. ProShare Advisors LLC boosted its position in shares of Golar LNG by 4.5% during the 4th quarter. ProShare Advisors LLC now owns 17,868 shares of the shipping company’s stock valued at $665,000 after acquiring an additional 771 shares in the last quarter. HighTower Advisors LLC boosted its position in shares of Golar LNG by 6.8% during the 4th quarter. HighTower Advisors LLC now owns 122,558 shares of the shipping company’s stock valued at $4,560,000 after acquiring an additional 7,772 shares in the last quarter. ARS Investment Partners LLC increased its stake in Golar LNG by 7.1% in the fourth quarter. ARS Investment Partners LLC now owns 317,021 shares of the shipping company’s stock valued at $11,796,000 after acquiring an additional 20,962 shares during the period. Finally, Tejara Capital Ltd raised its position in Golar LNG by 87.8% in the fourth quarter. Tejara Capital Ltd now owns 369,026 shares of the shipping company’s stock worth $13,731,000 after purchasing an additional 172,500 shares in the last quarter. 92.21% of the stock is owned by institutional investors.

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.