Golar LNG (NASDAQ:GLNG) Upgraded to “Sell” at StockNews.com

StockNews.com upgraded shares of Golar LNG (NASDAQ:GLNG) to a sell rating in a report released on Thursday morning.

Other research analysts have also issued reports about the company. B. Riley upped their price target on Golar LNG from $35.50 to $44.50 and gave the company a buy rating in a research report on Friday, July 19th. Stifel Nicolaus dropped their target price on Golar LNG from $55.00 to $53.00 and set a buy rating on the stock in a report on Friday, August 16th. BTIG Research increased their price target on shares of Golar LNG from $36.00 to $45.00 and gave the stock a buy rating in a research report on Tuesday, June 25th. Finally, Deutsche Bank Aktiengesellschaft boosted their price objective on shares of Golar LNG from $43.00 to $56.00 and gave the company a buy rating in a research report on Friday, August 16th. One equities research analyst has rated the stock with a sell rating, one has issued a hold rating and four have issued a buy rating to the company. According to MarketBeat, Golar LNG has a consensus rating of Moderate Buy and a consensus target price of $45.10.

Golar LNG Stock Up 5.5 %

GLNG stock opened at $34.38 on Thursday. The company has a debt-to-equity ratio of 0.31, a current ratio of 1.24 and a quick ratio of 1.28. The firm has a market capitalization of $3.60 billion, a P/E ratio of 32.74 and a beta of 0.58. Golar LNG has a 52-week low of $19.94 and a 52-week high of $36.52. The company’s 50 day simple moving average is $33.20 and its 200-day simple moving average is $28.73.

Golar LNG (NASDAQ:GLNG) last posted its quarterly earnings data on Thursday, August 15th. The shipping company reported $0.42 earnings per share for the quarter, missing the consensus estimate of $0.44 by ($0.02). The firm had revenue of $62.98 million for the quarter, compared to analysts’ expectations of $67.38 million. Golar LNG had a return on equity of 9.20% and a net margin of 50.89%. As a group, equities research analysts anticipate that Golar LNG will post 1.56 EPS for the current year.

Golar LNG Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Tuesday, September 3rd. Shareholders of record on Monday, August 26th were given a $0.25 dividend. This represents a $1.00 annualized dividend and a yield of 2.91%. The ex-dividend date of this dividend was Monday, August 26th. Golar LNG’s payout ratio is currently 95.24%.

Institutional Investors Weigh In On Golar LNG

A number of hedge funds and other institutional investors have recently made changes to their positions in the company. CenterBook Partners LP increased its holdings in Golar LNG by 84.3% in the fourth quarter. CenterBook Partners LP now owns 101,438 shares of the shipping company’s stock worth $2,332,000 after buying an additional 46,393 shares during the last quarter. Vanguard Group Inc. increased its stake in shares of Golar LNG by 74.4% during the 1st quarter. Vanguard Group Inc. now owns 1,015,644 shares of the shipping company’s stock worth $24,436,000 after purchasing an additional 433,299 shares during the last quarter. 1492 Capital Management LLC bought a new position in shares of Golar LNG during the 4th quarter valued at $1,498,000. Capstone Investment Advisors LLC acquired a new stake in shares of Golar LNG in the 1st quarter valued at $1,252,000. Finally, Denali Advisors LLC acquired a new stake in shares of Golar LNG in the 1st quarter valued at $1,049,000. 92.21% of the stock is owned by hedge funds and other institutional investors.

About Golar LNG

Golar LNG Limited designs, converts, owns, and operates marine infrastructure for the liquefaction of natural gas. The company operates through three segments: FLNG, Corporate and Other, and Shipping. It engages in the regasification, storage, and offloading of liquefied natural gas (LNG); operation of floating liquefaction natural gas (FLNG) vessels or projects; transportation of LNG carriers; and vessel management activities.