Golar LNG (NASDAQ:GLNG) Stock Rating Lowered by BidaskClub

Golar LNG (NASDAQ:GLNG) was downgraded by equities researchers at BidaskClub from a “sell” rating to a “strong sell” rating in a research report issued to clients and investors on Saturday, BidAskClub reports.

Several other equities analysts have also recently weighed in on the stock. Scotiabank set a $23.00 price target on shares of Golar LNG and gave the stock a “buy” rating in a research note on Monday, September 30th. Stifel Nicolaus decreased their price target on shares of Golar LNG from $30.00 to $27.00 and set a “buy” rating for the company in a research note on Wednesday, August 21st. B. Riley set a $21.00 price target on shares of Golar LNG and gave the stock a “buy” rating in a research note on Friday, October 11th. ValuEngine raised shares of Golar LNG from a “sell” rating to a “hold” rating in a research note on Thursday, August 1st. Finally, Citigroup cut shares of Golar LNG from a “buy” rating to a “neutral” rating in a research note on Tuesday, October 29th. One analyst has rated the stock with a sell rating, two have assigned a hold rating and eight have issued a buy rating to the stock. The stock presently has an average rating of “Buy” and an average price target of $20.75.

NASDAQ GLNG traded down $0.38 during trading hours on Friday, reaching $12.41. 48,193 shares of the company’s stock were exchanged, compared to its average volume of 1,025,415. The company’s 50-day moving average is $13.91 and its two-hundred day moving average is $15.61. Golar LNG has a one year low of $11.07 and a one year high of $28.08. The company has a debt-to-equity ratio of 0.95, a quick ratio of 0.43 and a current ratio of 0.43. The company has a market capitalization of $1.30 billion, a price-to-earnings ratio of -33.05 and a beta of 0.85.

Golar LNG (NASDAQ:GLNG) last issued its quarterly earnings results on Thursday, August 29th. The shipping company reported ($0.62) earnings per share for the quarter, missing the consensus estimate of ($0.34) by ($0.28). The business had revenue of $82.32 million for the quarter, compared to the consensus estimate of $85.10 million. Golar LNG had a negative return on equity of 4.26% and a negative net margin of 77.74%. Research analysts predict that Golar LNG will post -1.18 earnings per share for the current fiscal year.

Several large investors have recently added to or reduced their stakes in GLNG. Nuveen Asset Management LLC grew its stake in shares of Golar LNG by 150.6% in the second quarter. Nuveen Asset Management LLC now owns 1,176,892 shares of the shipping company’s stock valued at $21,750,000 after buying an additional 707,256 shares in the last quarter. Marshall Wace LLP grew its stake in shares of Golar LNG by 133.4% in the second quarter. Marshall Wace LLP now owns 713,148 shares of the shipping company’s stock valued at $13,179,000 after buying an additional 407,606 shares in the last quarter. Carlson Capital L P grew its stake in shares of Golar LNG by 61.9% in the second quarter. Carlson Capital L P now owns 1,025,000 shares of the shipping company’s stock valued at $18,942,000 after buying an additional 392,068 shares in the last quarter. SG Americas Securities LLC grew its stake in shares of Golar LNG by 2,416.7% in the second quarter. SG Americas Securities LLC now owns 243,839 shares of the shipping company’s stock valued at $4,506,000 after buying an additional 234,150 shares in the last quarter. Finally, Duff & Phelps Investment Management Co. grew its stake in shares of Golar LNG by 17.4% in the third quarter. Duff & Phelps Investment Management Co. now owns 1,369,146 shares of the shipping company’s stock valued at $17,785,000 after buying an additional 203,357 shares in the last quarter. 68.76% of the stock is owned by institutional investors and hedge funds.

About Golar LNG

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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Analyst Recommendations for Golar LNG (NASDAQ:GLNG)

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