Golar LNG (NASDAQ:GLNG) was downgraded by Zacks Investment Research from a “hold” rating to a “sell” rating in a research note issued on Thursday.
According to Zacks, “GOLAR LNG LIMITED is engaged in the acquisition, ownership, operation and chartering of liquid natural gas carriers and floating storage re-gasification units through its subsidiaries. “
Several other brokerages have also issued reports on GLNG. BidaskClub lowered Golar LNG from a “buy” rating to a “hold” rating in a research report on Saturday, January 13th. Jefferies Group initiated coverage on Golar LNG in a research report on Monday, December 18th. They set a “buy” rating and a $39.00 price target for the company. ABN Amro raised Golar LNG from a “hold” rating to a “buy” rating in a research report on Monday, October 30th. Finally, Cowen upped their price target on Golar LNG from $41.00 to $44.00 and gave the stock an “outperform” rating in a research report on Tuesday, December 12th. Three research analysts have rated the stock with a sell rating and seven have given a buy rating to the company. The stock has an average rating of “Hold” and an average price target of $35.17.
Golar LNG (NASDAQ:GLNG) last issued its quarterly earnings data on Thursday, November 30th. The shipping company reported ($0.43) earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of ($0.36) by ($0.07). Golar LNG had a negative net margin of 180.90% and a negative return on equity of 9.15%. The business had revenue of $32.43 million during the quarter, compared to analyst estimates of $24.04 million. research analysts anticipate that Golar LNG will post -1.84 EPS for the current fiscal year.
A number of large investors have recently added to or reduced their stakes in GLNG. Pelham Capital Ltd. acquired a new position in Golar LNG during the 4th quarter worth approximately $47,112,000. Huber Capital Management LLC acquired a new position in Golar LNG during the 3rd quarter worth approximately $15,190,000. Alyeska Investment Group L.P. boosted its position in Golar LNG by 17.6% during the 3rd quarter. Alyeska Investment Group L.P. now owns 2,356,050 shares of the shipping company’s stock worth $53,270,000 after acquiring an additional 353,089 shares during the last quarter. Frontier Capital Management Co. LLC acquired a new position in Golar LNG during the 3rd quarter worth approximately $7,380,000. Finally, Gilder Gagnon Howe & Co. LLC boosted its position in Golar LNG by 138.8% during the 4th quarter. Gilder Gagnon Howe & Co. LLC now owns 533,999 shares of the shipping company’s stock worth $15,919,000 after acquiring an additional 310,393 shares during the last quarter. 84.36% of the stock is owned by hedge funds and other institutional investors.
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).
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