Golar LNG (NASDAQ:GLNG) had its target price hoisted by research analysts at Morgan Stanley from $32.00 to $36.00 in a research report issued to clients and investors on Monday. The brokerage presently has an “equal weight” rating on the shipping company’s stock. Morgan Stanley’s price objective points to a potential upside of 41.40% from the stock’s current price.
Other equities analysts have also recently issued research reports about the company. ABN Amro upgraded Golar LNG from a “hold” rating to a “buy” rating in a report on Monday, October 30th. BidaskClub lowered Golar LNG from a “strong-buy” rating to a “buy” rating in a research note on Saturday, January 6th. Jefferies Group assumed coverage on Golar LNG in a research note on Monday, December 18th. They issued a “buy” rating and a $39.00 target price on the stock. Zacks Investment Research raised Golar LNG from a “sell” rating to a “hold” rating in a research note on Wednesday, January 31st. Finally, Cowen increased their target price on Golar LNG from $41.00 to $44.00 and gave the company an “outperform” rating in a research note on Tuesday, December 12th. Three investment analysts have rated the stock with a sell rating, one has given a hold rating and six have assigned a buy rating to the stock. The stock has a consensus rating of “Hold” and an average target price of $36.00.
Golar LNG (NASDAQ GLNG) traded down $0.54 during trading on Monday, reaching $25.46. The company had a trading volume of 2,865,700 shares, compared to its average volume of 1,300,735. The company has a market capitalization of $2,571.46, a PE ratio of -13.06, a price-to-earnings-growth ratio of 14.03 and a beta of 0.76. Golar LNG has a fifty-two week low of $19.32 and a fifty-two week 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.
Large investors have recently added to or reduced their stakes in the business. Virtu Financial LLC raised its position in shares of Golar LNG by 139.3% during the fourth quarter. Virtu Financial LLC now owns 22,122 shares of the shipping company’s stock worth $659,000 after purchasing an additional 12,878 shares during the period. BlackRock Inc. raised its position in shares of Golar LNG by 0.3% during the fourth quarter. BlackRock Inc. now owns 4,382,377 shares of the shipping company’s stock worth $130,638,000 after purchasing an additional 11,409 shares during the period. Bank of New York Mellon Corp raised its position in shares of Golar LNG by 1.1% during the fourth quarter. Bank of New York Mellon Corp now owns 516,818 shares of the shipping company’s stock worth $15,406,000 after purchasing an additional 5,505 shares during the period. Levin Capital Strategies L.P. raised its position in shares of Golar LNG by 6.4% during the fourth quarter. Levin Capital Strategies L.P. now owns 695,618 shares of the shipping company’s stock worth $20,737,000 after purchasing an additional 41,906 shares during the period. Finally, First Trust Advisors LP acquired a new stake in shares of Golar LNG during the fourth quarter worth about $201,000. 84.55% of the stock is currently owned by hedge funds and other institutional investors.
Golar LNG Company Profile
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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