GasLog LP. (GLOG) Rating Increased to Hold at Zacks Investment Research
GasLog LP. (NYSE:GLOG) was upgraded by Zacks Investment Research from a “sell” rating to a “hold” rating in a research report issued on Thursday.
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. “
Several other equities research analysts have also issued reports on the stock. Jefferies Group LLC reaffirmed a “buy” rating and set a $20.00 price target on shares of GasLog LP. in a report on Wednesday, October 11th. DNB Markets lowered 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, BidaskClub lowered shares of GasLog LP. from a “buy” rating to a “hold” rating in a report on Tuesday, September 12th. Five investment analysts have rated the stock with a hold rating and six have given a buy rating to the company’s stock. The company currently has an average rating of “Buy” and a consensus target price of $18.98.
Shares of GasLog LP. (NYSE:GLOG) traded up 0.91% during trading on Thursday, hitting $16.55. 548,380 shares of the stock were exchanged. The firm has a 50 day moving average price of $17.05 and a 200 day moving average price of $15.69. The firm’s market capitalization is $1.33 billion. GasLog LP. has a 52 week low of $12.75 and a 52 week high of $18.35.
GasLog LP. (NYSE:GLOG) last announced its quarterly earnings results on Thursday, August 3rd. The shipping company reported ($0.03) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.02) by ($0.01). The company had revenue of $129.90 million for the quarter, compared to the consensus estimate of $128.14 million. GasLog LP. had a net margin of 0.70% and a return on equity of 0.50%. The company’s revenue for the quarter was up 13.4% compared to the same quarter last year. During the same period last year, the firm posted ($0.01) earnings per share. Analysts forecast that GasLog LP. will post $0.08 EPS for the current fiscal year.
A number of institutional investors and hedge funds have recently bought and sold shares of GLOG. Eagle Global Advisors LLC grew its holdings in GasLog LP. by 30.6% during the 2nd 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 last quarter. GCA Investment Management LLC lifted its position in shares of GasLog LP. by 217.8% in the 2nd quarter. GCA Investment Management LLC now owns 572,096 shares of the shipping company’s stock worth $8,724,000 after purchasing an additional 392,096 shares during the period. Fairview Capital Investment Management LLC lifted its position in shares of GasLog LP. by 6.1% in the 2nd quarter. Fairview Capital Investment Management LLC now owns 4,957,606 shares of the shipping company’s stock worth $75,603,000 after purchasing an additional 287,164 shares during the period. Gilder Gagnon Howe & Co. LLC acquired a new position in shares of GasLog LP. in the 2nd quarter worth approximately $3,370,000. Finally, Frontier Capital Management Co. LLC lifted its position in shares of GasLog LP. by 24.3% in the 2nd quarter. Frontier Capital Management Co. LLC now owns 1,089,150 shares of the shipping company’s stock worth $16,610,000 after purchasing an additional 213,252 shares during the period. 48.54% of the stock is currently owned by hedge funds and other 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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