Golar LNG (NASDAQ:GLNG) Downgraded to “Sell” Rating by Wall Street Zen

Golar LNG (NASDAQ:GLNG) was downgraded by analysts at Wall Street Zen from a “hold” rating to a “sell” rating in a note issued to investors on Saturday.

Several other analysts have also commented on the company. The Goldman Sachs Group initiated coverage on Golar LNG in a report on Monday, September 29th. They issued a “buy” rating and a $54.00 price objective for the company. Zacks Research lowered Golar LNG from a “hold” rating to a “strong sell” rating in a research note on Friday, November 7th. Weiss Ratings reaffirmed a “hold (c+)” rating on shares of Golar LNG in a report on Monday. BTIG Research reissued a “buy” rating and set a $50.00 price target on shares of Golar LNG in a report on Wednesday, November 5th. Finally, B. Riley reaffirmed a “neutral” rating and issued a $44.50 price objective on shares of Golar LNG in a research note on Monday, August 25th. Three equities research analysts have rated the stock with a Strong Buy rating, four have issued a Buy rating, two have given a Hold rating and one has given a Sell rating to the company’s stock. Based on data from MarketBeat, Golar LNG currently has a consensus rating of “Moderate Buy” and an average target price of $50.42.

Golar LNG Trading Up 2.8%

Golar LNG stock opened at $38.09 on Friday. Golar LNG has a 12 month low of $29.56 and a 12 month high of $45.98. The company has a current ratio of 1.32, a quick ratio of 1.32 and a debt-to-equity ratio of 0.61. The business’s fifty day simple moving average is $38.20 and its two-hundred day simple moving average is $40.20. The company has a market capitalization of $3.98 billion, a price-to-earnings ratio of 66.83 and a beta of 0.18.

Hedge Funds Weigh In On Golar LNG

Several institutional investors have recently bought and sold shares of the business. FNY Investment Advisers LLC raised its position in shares of Golar LNG by 383.8% during the 3rd quarter. FNY Investment Advisers LLC now owns 13,546 shares of the shipping company’s stock valued at $547,000 after buying an additional 10,746 shares in the last quarter. CIBC Bancorp USA Inc. purchased a new stake in Golar LNG during the third quarter valued at approximately $431,000. Danske Bank A S bought a new stake in shares of Golar LNG in the 3rd quarter valued at approximately $56,574,000. Caitong International Asset Management Co. Ltd lifted its stake in shares of Golar LNG by 278.2% in the 3rd quarter. Caitong International Asset Management Co. Ltd now owns 658 shares of the shipping company’s stock valued at $27,000 after purchasing an additional 484 shares during the last quarter. Finally, XTX Topco Ltd purchased a new position in shares of Golar LNG in the 3rd quarter worth approximately $934,000. Institutional investors own 92.21% of the company’s stock.

About Golar LNG

Golar LNG Ltd. is a leading owner and operator of liquefied natural gas (LNG) carriers and floating infrastructure. The company specializes in the transportation of LNG on long-term and spot charters for major energy firms around the world. In addition to shipping, Golar LNG has broadened its services to include project development and the conversion of existing carriers into Floating Liquefied Natural Gas (FLNG) and Floating Storage and Regasification Unit (FSRU) vessels.

Since pioneering the first purpose-built FLNG conversion project, Golar LNG has been at the forefront of offshore gas monetization.