Golar LNG Limited (NASDAQ:GLNG) Given Average Rating of “Buy” by Brokerages

Shares of Golar LNG Limited (NASDAQ:GLNG) have been given a consensus recommendation of “Buy” by the nine research firms that are presently covering the firm, MarketBeat Ratings reports. Three research analysts have rated the stock with a hold rating, three have issued a buy rating and three have given a strong buy rating to the company. The average 1-year target price among brokerages that have covered the stock in the last year is $49.90.

Several research firms have issued reports on GLNG. Weiss Ratings reiterated a “hold (c+)” rating on shares of Golar LNG in a research note on Monday, December 29th. Wall Street Zen lowered shares of Golar LNG from a “hold” rating to a “sell” rating in a report on Saturday, December 20th. BTIG Research reiterated a “buy” rating and set a $50.00 target price on shares of Golar LNG in a research report on Wednesday, November 5th. The Goldman Sachs Group set a $56.00 price target on shares of Golar LNG in a report on Monday, February 2nd. Finally, Zacks Research raised shares of Golar LNG from a “strong sell” rating to a “hold” rating in a research note on Monday, January 5th.

Institutional Investors Weigh In On Golar LNG

A number of hedge funds and other institutional investors have recently bought and sold shares of the business. Caitong International Asset Management Co. Ltd boosted its stake in Golar LNG by 278.2% in the third quarter. Caitong International Asset Management Co. Ltd now owns 658 shares of the shipping company’s stock worth $27,000 after purchasing an additional 484 shares in the last quarter. Smartleaf Asset Management LLC lifted its position in Golar LNG by 281.9% during the 3rd quarter. Smartleaf Asset Management LLC now owns 909 shares of the shipping company’s stock worth $37,000 after buying an additional 671 shares in the last quarter. Allworth Financial LP lifted its position in Golar LNG by 43.5% during the 2nd quarter. Allworth Financial LP now owns 990 shares of the shipping company’s stock worth $41,000 after buying an additional 300 shares in the last quarter. Crossingbridge Advisors LLC bought a new stake in Golar LNG during the 2nd quarter worth about $41,000. Finally, Penserra Capital Management LLC bought a new stake in Golar LNG during the 2nd quarter worth about $50,000. 92.21% of the stock is owned by institutional investors and hedge funds.

Golar LNG Trading Up 4.4%

Shares of GLNG opened at $42.27 on Friday. 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 stock has a market cap of $4.42 billion, a PE ratio of 74.16 and a beta of 0.20. Golar LNG has a 1 year low of $29.56 and a 1 year high of $45.98. The stock has a 50 day simple moving average of $38.72 and a 200-day simple moving average of $39.66.

Golar LNG Company Profile

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.