Golar LNG Limited (NASDAQ:GLNG) rose 5.7% on Monday . The company traded as high as $21.41 and last traded at $20.98. Approximately 2,183,534 shares traded hands during mid-day trading, an increase of 117% from the average daily volume of 1,004,890 shares. The stock had previously closed at $19.84.
GLNG has been the subject of a number of research analyst reports. ABN Amro upgraded Golar LNG Limited from a “hold” rating to a “buy” rating in a research report on Monday. Stifel Nicolaus restated a “buy” rating and issued a $36.00 target price on shares of Golar LNG Limited in a research report on Wednesday, July 5th. Cowen and Company restated an “outperform” rating and issued a $45.00 target price on shares of Golar LNG Limited in a research report on Thursday, August 31st. Citigroup Inc. cut their target price on Golar LNG Limited from $28.00 to $26.00 and set a “buy” rating for the company in a research report on Thursday, August 17th. Finally, Zacks Investment Research downgraded Golar LNG Limited from a “hold” rating to a “sell” rating in a research report on Wednesday, July 12th. Three analysts have rated the stock with a sell rating, one has assigned a hold rating and eight have given a buy rating to the stock. The company presently has a consensus rating of “Hold” and an average price target of $34.67.
The stock’s 50-day moving average is $21.61 and its 200-day moving average is $22.96. The company’s market cap is $2.12 billion.
Golar LNG Limited (NASDAQ:GLNG) last announced its quarterly earnings data on Wednesday, August 30th. The shipping company reported ($0.51) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.40) by ($0.11). Golar LNG Limited had a negative net margin of 179.35% and a negative return on equity of 7.78%. The business had revenue of $28.41 million during the quarter, compared to the consensus estimate of $17.03 million. Equities analysts forecast that Golar LNG Limited will post ($1.92) EPS for the current fiscal year.
The firm also recently disclosed a quarterly dividend, which was paid on Wednesday, October 4th. Shareholders of record on Thursday, September 14th were paid a $0.05 dividend. The ex-dividend date was Wednesday, September 13th. This represents a $0.20 dividend on an annualized basis and a yield of 0.95%.
A number of hedge funds have recently made changes to their positions in GLNG. HITE Hedge Asset Management LLC boosted its stake in Golar LNG Limited by 79.3% in the second quarter. HITE Hedge Asset Management LLC now owns 1,567,493 shares of the shipping company’s stock valued at $34,877,000 after acquiring an additional 693,185 shares during the last quarter. Frontier Capital Management Co. LLC bought a new position in Golar LNG Limited in the third quarter valued at approximately $7,380,000. Balyasny Asset Management LLC boosted its stake in Golar LNG Limited by 35.1% in the second quarter. Balyasny Asset Management LLC now owns 1,136,056 shares of the shipping company’s stock valued at $25,277,000 after acquiring an additional 295,073 shares during the last quarter. Bank of America Corp DE boosted its stake in Golar LNG Limited by 38.9% in the first quarter. Bank of America Corp DE now owns 843,820 shares of the shipping company’s stock valued at $23,568,000 after acquiring an additional 236,435 shares during the last quarter. Finally, Boston Private Wealth LLC bought a new position in Golar LNG Limited in the second quarter valued at approximately $4,461,000. 87.42% of the stock is currently owned by hedge funds and other institutional investors.
COPYRIGHT VIOLATION NOTICE: “Golar LNG Limited (GLNG) Stock Price Up 5.7%” was reported by Community Financial News and is the property of of Community Financial News. If you are reading this piece of content on another site, it was copied illegally and republished in violation of US & international copyright and trademark laws. The correct version of this piece of content can be viewed at https://www.com-unik.info/2017/11/01/golar-lng-limited-glng-stock-price-up-5-7.html.
About Golar LNG Limited
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).
What are top analysts saying about Golar LNG Limited? - Enter your email address in the form below to receive our free daily email newsletter that contains the latest headlines and analysts' recommendations for for Golar LNG Limited and related companies.