ValuEngine upgraded shares of Golar LNG (NASDAQ:GLNG) from a sell rating to a hold rating in a research note issued to investors on Thursday morning, ValuEngine reports.
Other analysts have also recently issued reports about the stock. Zacks Investment Research upgraded shares of Golar LNG from a hold rating to a buy rating and set a $22.00 price target on the stock in a report on Monday, April 29th. BidaskClub cut shares of Golar LNG from a hold rating to a sell rating in a report on Wednesday, July 24th. Finally, Cowen restated an outperform rating and issued a $22.00 price target (down from $30.00) on shares of Golar LNG in a report on Tuesday, June 25th. One equities research analyst has rated the stock with a sell rating, one has issued a hold rating and eleven have assigned a buy rating to the company’s stock. The stock currently has an average rating of Buy and an average price target of $32.11.
Shares of NASDAQ:GLNG traded down $0.63 during trading on Thursday, reaching $15.69. The stock had a trading volume of 805,730 shares, compared to its average volume of 895,715. Golar LNG has a one year low of $15.63 and a one year high of $30.29. The firm has a market cap of $1.65 billion, a P/E ratio of -41.29 and a beta of 0.66. The company has a debt-to-equity ratio of 0.89, a current ratio of 0.51 and a quick ratio of 0.51. The stock has a 50-day moving average of $17.45.
Golar LNG (NASDAQ:GLNG) last released its quarterly earnings results on Tuesday, May 21st. The shipping company reported ($0.37) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.26) by ($0.11). Golar LNG had a negative net margin of 52.68% and a negative return on equity of 2.93%. The firm had revenue of $97.79 million during the quarter, compared to the consensus estimate of $88.87 million. As a group, analysts forecast that Golar LNG will post -0.64 earnings per share for the current year.
Hedge funds have recently added to or reduced their stakes in the stock. Gamco Investors INC. ET AL acquired a new position in shares of Golar LNG during the 2nd quarter valued at about $924,000. Mraz Amerine & Associates Inc. acquired a new position in shares of Golar LNG during the 2nd quarter valued at about $601,000. Fernwood Investment Management LLC boosted its position in shares of Golar LNG by 4.4% during the 2nd quarter. Fernwood Investment Management LLC now owns 105,404 shares of the shipping company’s stock valued at $1,948,000 after acquiring an additional 4,402 shares during the last quarter. Advisor Group Inc. boosted its position in shares of Golar LNG by 86.2% during the 2nd quarter. Advisor Group Inc. now owns 5,547 shares of the shipping company’s stock valued at $103,000 after acquiring an additional 2,568 shares during the last quarter. Finally, Aperio Group LLC acquired a new position in shares of Golar LNG during the 2nd quarter valued at about $92,000. Institutional investors own 72.05% of the company’s stock.
Golar LNG Company Profile
Golar LNG Limited, a midstream liquefied natural gas (LNG) company, engages in the transportation, regasification, and liquefaction of LNG. It operates through three segments: Vessel operations, Floating Liquefaction Natural Gas Vessel (FLNG), and Power. The company engages in the acquisition, ownership, operation, and chartering of LNG carriers and floating storage regasification units (FSRUs); and the development of LNG projects.
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