Golar LNG Limited (NASDAQ:GLNG) has earned an average rating of “Hold” from the ten brokerages that are currently covering the stock, MarketBeat Ratings reports. One equities research analyst has rated the stock with a sell recommendation, four have issued a hold recommendation and five have assigned a buy recommendation to the company. The average 1-year target price among analysts that have issued a report on the stock in the last year is $14.25.
GLNG has been the topic of several recent analyst reports. Cowen lowered their target price on shares of Golar LNG from $15.00 to $11.00 and set an “outperform” rating on the stock in a research report on Friday, May 29th. BidaskClub upgraded Golar LNG from a “strong sell” rating to a “sell” rating in a report on Wednesday, August 12th. Zacks Investment Research cut Golar LNG from a “buy” rating to a “hold” rating and set a $9.00 price objective for the company. in a report on Wednesday, June 3rd. ValuEngine downgraded Golar LNG from a “buy” rating to a “hold” rating in a research report on Tuesday, September 1st. Finally, DNB Markets upgraded Golar LNG from a “hold” rating to a “buy” rating in a research report on Tuesday, September 1st.
A number of institutional investors have recently added to or reduced their stakes in GLNG. Principal Financial Group Inc. acquired a new position in Golar LNG in the 2nd quarter valued at about $75,000. Nuveen Asset Management LLC boosted its stake in shares of Golar LNG by 4.9% during the 2nd quarter. Nuveen Asset Management LLC now owns 425,432 shares of the shipping company’s stock worth $3,140,000 after purchasing an additional 19,925 shares during the last quarter. Engineers Gate Manager LP purchased a new stake in shares of Golar LNG during the second quarter worth about $132,000. Electron Capital Partners LLC acquired a new position in shares of Golar LNG in the second quarter valued at approximately $20,650,000. Finally, Man Group plc lifted its stake in shares of Golar LNG by 6.9% during the second quarter. Man Group plc now owns 49,031 shares of the shipping company’s stock valued at $355,000 after buying an additional 3,153 shares during the period. 58.61% of the stock is owned by institutional investors.
Golar LNG stock traded up $0.08 during midday trading on Friday, reaching $10.20. The stock had a trading volume of 752,410 shares, compared to its average volume of 982,891. The company has a fifty day moving average of $8.83 and a 200 day moving average of $8.01. The company has a debt-to-equity ratio of 0.91, a quick ratio of 0.17 and a current ratio of 0.17. Golar LNG has a 52-week low of $4.54 and a 52-week high of $15.86.
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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