GasLog LP (GLOG) Rating Lowered to Sell at Zacks Investment Research
GasLog LP (NYSE:GLOG) was downgraded by Zacks Investment Research from a “hold” rating to a “sell” rating in a report issued on Tuesday.
According to Zacks, “GasLog Ltd. is an owner, operator and manager of liquefied natural gas carriers. The Company operates in two segments: vessel ownership and vessel management. The vessel ownership segment consists of chartering out company-owned LNG carriers and the vessel management segment consists of providing LNG carrier technical management services, LNG carrier construction supervision services and other vessel management services. GasLog Ltd. is based in Monaco. “
A number of other analysts also recently commented on the company. Jefferies Group restated a “buy” rating on shares of GasLog in a report on Monday, August 22nd. Citigroup Inc. upped their price objective on GasLog from $13.00 to $15.00 and gave the stock a “neutral” rating in a report on Friday, August 5th. Two equities research analysts have rated the stock with a sell rating, four have given a hold rating and three have issued a buy rating to the company. The company presently has a consensus rating of “Hold” and a consensus price target of $14.50.
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Shares of GasLog (NYSE:GLOG) traded up 2.58% during trading on Tuesday, reaching $16.31. The company’s stock had a trading volume of 1,028,749 shares. The firm’s market capitalization is $1.31 billion. GasLog has a 52 week low of $5.24 and a 52 week high of $16.42. The company has a 50 day moving average price of $13.85 and a 200 day moving average price of $12.86.
GasLog (NYSE:GLOG) last released its quarterly earnings data on Thursday, August 4th. The company reported ($0.01) EPS for the quarter, topping analysts’ consensus estimates of ($0.06) by $0.05. The business earned $114.50 million during the quarter, compared to the consensus estimate of $111.04 million. GasLog had a negative return on equity of 0.70% and a negative net margin of 5.90%. The firm’s revenue was up 9.7% on a year-over-year basis. On average, equities research analysts expect that GasLog will post $0.01 EPS for the current fiscal year.
A number of institutional investors have recently bought and sold shares of GLOG. BlackRock Advisors LLC boosted its position in GasLog by 1.7% in the second quarter. BlackRock Advisors LLC now owns 13,672 shares of the company’s stock worth $177,000 after buying an additional 231 shares during the last quarter. Bank of New York Mellon Corp boosted its position in GasLog by 0.6% in the second quarter. Bank of New York Mellon Corp now owns 96,654 shares of the company’s stock worth $1,255,000 after buying an additional 574 shares during the last quarter. State Board of Administration of Florida Retirement System boosted its position in GasLog by 4.1% in the second quarter. State Board of Administration of Florida Retirement System now owns 20,637 shares of the company’s stock worth $268,000 after buying an additional 808 shares during the last quarter. Advisory Services Network LLC boosted its position in GasLog by 19.9% in the second quarter. Advisory Services Network LLC now owns 10,721 shares of the company’s stock worth $139,000 after buying an additional 1,778 shares during the last quarter. Finally, Cohen & Steers Inc. boosted its position in GasLog by 4.4% in the second quarter. Cohen & Steers Inc. now owns 48,296 shares of the company’s stock worth $627,000 after buying an additional 2,038 shares during the last quarter. 47.66% of the stock is owned by institutional investors.
GasLog Ltd. (GasLog) is a holding company. The Company and its subsidiaries are primarily engaged in the ownership, operation and management of vessels in the liquefied natural gas (LNG) market. The Company is provides maritime services for the transportation of LNG on worldwide basis and LNG vessel management services.
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