Golar LNG (NASDAQ:GLNG) was downgraded by equities research analysts at BidaskClub from a “buy” rating to a “hold” rating in a note issued to investors on Saturday.

Several other brokerages have also recently weighed in on GLNG. Jefferies Group began coverage on Golar LNG in a research note on Monday, December 18th. They issued a “buy” rating and a $39.00 price target on the stock. Cowen upped their price target on Golar LNG from $41.00 to $44.00 and gave the stock an “outperform” rating in a research note on Tuesday, December 12th. Zacks Investment Research raised Golar LNG from a “sell” rating to a “hold” rating in a research note on Wednesday, November 29th. Finally, ABN Amro raised Golar LNG from a “hold” rating to a “buy” rating in a research note on Monday, October 30th. One analyst has rated the stock with a sell rating, three have given a hold rating and seven have assigned a buy rating to the company. The company presently has a consensus rating of “Buy” and an average price target of $35.17.

Shares of Golar LNG (GLNG) traded up $0.36 during mid-day trading on Friday, reaching $29.73. The company had a trading volume of 682,792 shares, compared to its average volume of 1,570,000. The stock has a market capitalization of $3,010.00, a PE ratio of -15.98, a price-to-earnings-growth ratio of 15.46 and a beta of 0.96. Golar LNG has a 12 month low of $19.32 and a 12 month high of $31.64. The company has a debt-to-equity ratio of 0.77, a quick ratio of 0.41 and a current ratio of 0.41.

Hedge funds have recently modified their holdings of the stock. Quantbot Technologies LP grew its stake in shares of Golar LNG by 71.0% in the second quarter. Quantbot Technologies LP now owns 6,233 shares of the shipping company’s stock worth $138,000 after acquiring an additional 2,589 shares during the last quarter. PNC Financial Services Group Inc. grew its stake in shares of Golar LNG by 104.0% in the second quarter. PNC Financial Services Group Inc. now owns 7,552 shares of the shipping company’s stock worth $168,000 after acquiring an additional 3,850 shares during the last quarter. Seven Eight Capital LP grew its stake in shares of Golar LNG by 745.6% in the second quarter. Seven Eight Capital LP now owns 8,870 shares of the shipping company’s stock worth $197,000 after acquiring an additional 7,821 shares during the last quarter. Fort Washington Investment Advisors Inc. OH grew its stake in shares of Golar LNG by 10.3% in the second quarter. Fort Washington Investment Advisors Inc. OH now owns 9,600 shares of the shipping company’s stock worth $214,000 after acquiring an additional 900 shares during the last quarter. Finally, Principal Financial Group Inc. grew its stake in shares of Golar LNG by 2.5% in the second quarter. Principal Financial Group Inc. now owns 11,939 shares of the shipping company’s stock worth $266,000 after acquiring an additional 292 shares during the last quarter. 82.83% of the stock is currently owned by institutional investors.

COPYRIGHT VIOLATION WARNING: “Golar LNG (GLNG) Rating Lowered to Hold at BidaskClub” was originally published by American Banking News and is the property of of American Banking News. If you are viewing this piece on another publication, it was stolen and republished in violation of international copyright and trademark law. The original version of this piece can be viewed at https://www.americanbankingnews.com/2018/01/13/golar-lng-glng-rating-lowered-to-hold-at-bidaskclub.html.

About Golar LNG

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).

Analyst Recommendations for Golar LNG (NASDAQ:GLNG)

Receive News & Ratings for Golar LNG Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Golar LNG and related companies with MarketBeat.com's FREE daily email newsletter.