GasLog LP. (GLOG) Cut 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 released on Wednesday.
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. “
Other research analysts have also recently issued reports about the stock. Jefferies Group LLC restated a “buy” rating and issued a $20.00 price target on shares of GasLog LP. in a report on Thursday, August 3rd. BidaskClub cut shares of GasLog LP. from a “strong-buy” rating to a “buy” rating in a report on Monday, July 24th. DNB Markets cut shares of GasLog LP. from a “buy” rating to a “hold” rating and set a $17.80 price target on the stock. in a report on Wednesday, September 13th. Finally, Morgan Stanley upgraded shares of GasLog LP. from an “equal weight” rating to an “overweight” rating and set a $17.00 price target on the stock in a report on Tuesday, June 13th. One research analyst has rated the stock with a sell rating, four have issued a hold rating and six have issued a buy rating to the stock. The stock presently has an average rating of “Hold” and an average price target of $18.98.
GasLog LP. (GLOG) traded down 1.69% during midday trading on Wednesday, hitting $17.45. 444,367 shares of the stock traded hands. The firm’s 50-day moving average is $16.76 and its 200-day moving average is $15.44. GasLog LP. has a 52-week low of $12.75 and a 52-week high of $18.35. The company’s market cap is $1.40 billion.
GasLog LP. (NYSE:GLOG) last posted its quarterly earnings results on Thursday, August 3rd. The shipping company reported ($0.03) EPS for the quarter, missing the Zacks’ consensus estimate of ($0.02) by ($0.01). The company had revenue of $129.90 million during the quarter, compared to the consensus estimate of $128.14 million. GasLog LP. had a return on equity of 0.50% and a net margin of 0.70%. The company’s revenue for the quarter was up 13.4% on a year-over-year basis. During the same quarter in the previous year, the company posted ($0.01) earnings per share. Analysts predict that GasLog LP. will post $0.07 EPS for the current year.
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A number of large investors have recently added to or reduced their stakes in GLOG. Eagle Global Advisors LLC lifted its stake in GasLog LP. by 30.6% in the second quarter. Eagle Global Advisors LLC now owns 4,463,509 shares of the shipping company’s stock worth $68,069,000 after acquiring an additional 1,046,574 shares during the period. GCA Investment Management LLC lifted its stake in GasLog LP. by 217.8% in the second quarter. GCA Investment Management LLC now owns 572,096 shares of the shipping company’s stock worth $8,724,000 after acquiring an additional 392,096 shares during the period. Fairview Capital Investment Management LLC lifted its stake in GasLog LP. by 6.1% in the second quarter. Fairview Capital Investment Management LLC now owns 4,957,606 shares of the shipping company’s stock worth $75,603,000 after acquiring an additional 287,164 shares during the period. Point72 Europe London LLP purchased a new stake in GasLog LP. in the first quarter worth about $3,875,000. Finally, Gilder Gagnon Howe & Co. LLC purchased a new stake in GasLog LP. in the second quarter worth about $3,370,000. 48.51% of the stock is owned by institutional investors.
GasLog LP. Company Profile
GasLog Ltd. is an international owner, operator and manager of liquefied natural gas (LNG) carriers. The Company provides support to international energy companies as part of their LNG logistics chain. The Company’s owned consolidated fleet consists of 27 LNG carriers, including 22 ships in operation and five LNG carriers on order.
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