Golar LNG (GLNG) Now Covered by Jefferies Group

Equities research analysts at Jefferies Group started coverage on shares of Golar LNG (NASDAQ:GLNG) in a research report issued to clients and investors on Monday. The brokerage set a “buy” rating and a $39.00 price target on the shipping company’s stock. Jefferies Group’s target price would suggest a potential upside of 35.28% from the stock’s previous close.

Several other equities research analysts also recently weighed in on the company. BidaskClub raised Golar LNG from a “buy” rating to a “strong-buy” rating in a research report on Friday. Cowen upped their target price on Golar LNG from $41.00 to $44.00 and gave the stock an “outperform” rating in a research report on Tuesday, December 12th. Zacks Investment Research raised Golar LNG from a “sell” rating to a “hold” rating in a research report on Wednesday, November 29th. ABN Amro raised Golar LNG from a “hold” rating to a “buy” rating in a research report on Monday, October 30th. Finally, ValuEngine downgraded Golar LNG from a “hold” rating to a “sell” rating in a report on Friday, September 1st. One analyst has rated the stock with a sell rating, two have assigned a hold rating, seven have given a buy rating and one has given a strong buy rating to the company. Golar LNG presently has a consensus rating of “Buy” and an average price target of $35.17.

Shares of Golar LNG (NASDAQ GLNG) traded up $1.15 during midday trading on Monday, hitting $28.83. The stock had a trading volume of 2,965,815 shares, compared to its average volume of 1,217,622. Golar LNG has a 52 week low of $19.32 and a 52 week high of $29.36. The company has a quick ratio of 0.41, a current ratio of 0.41 and a debt-to-equity ratio of 0.77.

Institutional investors and hedge funds have recently modified their holdings of the stock. Vanguard Group Inc. boosted its holdings in Golar LNG by 3.0% in the second quarter. Vanguard Group Inc. now owns 219,487 shares of the shipping company’s stock valued at $4,884,000 after purchasing an additional 6,307 shares during the last quarter. The Manufacturers Life Insurance Company boosted its holdings in Golar LNG by 23,320.4% in the second quarter. The Manufacturers Life Insurance Company now owns 71,198 shares of the shipping company’s stock valued at $1,583,000 after purchasing an additional 70,894 shares during the last quarter. State Street Corp boosted its holdings in Golar LNG by 6.2% in the second quarter. State Street Corp now owns 1,734,953 shares of the shipping company’s stock valued at $38,608,000 after purchasing an additional 101,007 shares during the last quarter. Capital Management Associates NY boosted its holdings in Golar LNG by 100.0% in the third quarter. Capital Management Associates NY now owns 19,000 shares of the shipping company’s stock valued at $430,000 after purchasing an additional 9,500 shares during the last quarter. Finally, Verition Fund Management LLC purchased a new position in Golar LNG in the second quarter valued at about $639,000. 82.85% of the stock is owned by hedge funds and other institutional investors.

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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).

Analyst Recommendations for Golar LNG (NASDAQ:GLNG)