Golar LNG Limited (GLNG) Price Target Lowered to $26.00 at Citigroup Inc.
Golar LNG Limited (NASDAQ:GLNG) had its target price dropped by analysts at Citigroup Inc. from $28.00 to $26.00 in a report released on Thursday. The brokerage presently has a “buy” rating on the shipping company’s stock. Citigroup Inc.’s target price would suggest a potential upside of 26.15% from the company’s previous close.
Several other equities research analysts also recently commented on the company. Stifel Nicolaus reiterated a “buy” rating and issued a $36.00 price objective on shares of Golar LNG Limited in a report on Wednesday, July 5th. Zacks Investment Research upgraded Golar LNG Limited from a “sell” rating to a “hold” rating in a report on Friday, June 2nd. Cowen and Company reiterated an “outperform” rating and issued a $45.00 price objective on shares of Golar LNG Limited in a report on Friday, June 23rd. Morgan Stanley reiterated an “overweight” rating and issued a $32.00 price objective (down from $36.00) on shares of Golar LNG Limited in a report on Tuesday, June 13th. Finally, BidaskClub downgraded Golar LNG Limited from a “sell” rating to a “strong sell” rating in a report on Saturday, June 10th. One analyst has rated the stock with a sell rating, three have assigned a hold rating and nine have issued a buy rating to the company. The company currently has a consensus rating of “Buy” and a consensus price target of $34.14.
Golar LNG Limited (NASDAQ:GLNG) traded up 0.78% during mid-day trading on Thursday, hitting $20.61. 1,060,486 shares of the stock traded hands. The firm’s 50-day moving average is $22.57 and its 200 day moving average is $25.18. Golar LNG Limited has a 52-week low of $18.63 and a 52-week high of $29.18. The firm’s market cap is $2.02 billion.
Golar LNG Limited (NASDAQ:GLNG) last posted its quarterly earnings results on Wednesday, May 31st. The shipping company reported ($0.41) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.38) by $0.03. The company had revenue of $25.11 million during the quarter, compared to analysts’ expectations of $17.62 million. Golar LNG Limited had a negative return on equity of 7.51% and a negative net margin of 228.55%. Equities analysts predict that Golar LNG Limited will post ($1.45) EPS for the current fiscal year.
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Hedge funds and other institutional investors have recently made changes to their positions in the stock. HL Financial Services LLC boosted its position in Golar LNG Limited by 9.3% in the first quarter. HL Financial Services LLC now owns 25,701 shares of the shipping company’s stock worth $718,000 after buying an additional 2,182 shares in the last quarter. Parametric Portfolio Associates LLC boosted its position in Golar LNG Limited by 2.2% in the first quarter. Parametric Portfolio Associates LLC now owns 87,536 shares of the shipping company’s stock worth $2,445,000 after buying an additional 1,852 shares in the last quarter. Sei Investments Co. boosted its position in Golar LNG Limited by 84.1% in the first quarter. Sei Investments Co. now owns 5,457 shares of the shipping company’s stock worth $152,000 after buying an additional 2,493 shares in the last quarter. Karp Capital Management Corp acquired a new position in Golar LNG Limited during the first quarter worth approximately $272,000. Finally, Comerica Bank boosted its position in Golar LNG Limited by 1.1% in the first quarter. Comerica Bank now owns 9,250 shares of the shipping company’s stock worth $239,000 after buying an additional 105 shares in the last quarter. Institutional investors own 89.44% of the company’s stock.
About Golar LNG Limited
Golar LNG Limited is a midstream liquefied natural gas (LNG) company engaged primarily in the transportation, regasification, liquefaction and trading of LNG. The Company is engaged in the acquisition, ownership, operation and chartering of LNG carriers and Floating Storage Regasification Unit (FSRUs) through its subsidiaries and affiliates, and the development of LNG projects, such as floating LNGs (FLNGs).
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