BidaskClub Downgrades Golar LNG (GLNG) to Buy

BidaskClub cut shares of Golar LNG (NASDAQ:GLNG) from a strong-buy rating to a buy rating in a research note released on Saturday morning.

A number of other equities analysts also recently issued reports on the company. Jefferies Group assumed coverage on Golar LNG in a research report on Monday, December 18th. They set a buy rating and a $39.00 price target on the stock. Cowen upped their price target 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. Finally, ABN Amro raised Golar LNG from a hold rating to a buy rating in a research report on Monday, October 30th. One investment analyst has rated the stock with a sell rating, two have assigned a hold rating and eight have given a buy rating to the company. The stock presently has an average rating of Buy and a consensus price target of $35.17.

Golar LNG (NASDAQ GLNG) opened at $29.28 on Friday. The stock has a market capitalization of $2,960.00, a price-to-earnings ratio of -15.74, a PEG ratio of 15.67 and a beta of 0.96. The company has a current ratio of 0.41, a quick ratio of 0.41 and a debt-to-equity ratio of 0.77. Golar LNG has a 12-month low of $19.32 and a 12-month high of $31.64.

The business also recently disclosed a quarterly dividend, which was paid on Thursday, January 4th. Stockholders of record on Thursday, December 14th were issued a dividend of $0.05 per share. This represents a $0.20 dividend on an annualized basis and a dividend yield of 0.68%. The ex-dividend date was Wednesday, December 13th. Golar LNG’s dividend payout ratio (DPR) is presently -10.75%.

Several institutional investors and hedge funds have recently made changes to their positions in GLNG. Quantbot Technologies LP grew its holdings in shares of Golar LNG by 71.0% during the second quarter. Quantbot Technologies LP now owns 6,233 shares of the shipping company’s stock valued at $138,000 after buying an additional 2,589 shares during the last quarter. Sei Investments Co. grew its holdings in shares of Golar LNG by 19.3% during the second quarter. Sei Investments Co. now owns 6,511 shares of the shipping company’s stock valued at $145,000 after buying an additional 1,054 shares during the last quarter. PNC Financial Services Group Inc. grew its holdings in shares of Golar LNG by 104.0% during the second quarter. PNC Financial Services Group Inc. now owns 7,552 shares of the shipping company’s stock valued at $168,000 after buying an additional 3,850 shares during the last quarter. Seven Eight Capital LP grew its holdings in shares of Golar LNG by 745.6% during the second quarter. Seven Eight Capital LP now owns 8,870 shares of the shipping company’s stock valued at $197,000 after buying an additional 7,821 shares during the last quarter. Finally, Fort Washington Investment Advisors Inc. OH grew its holdings in shares of Golar LNG by 10.3% during the second quarter. Fort Washington Investment Advisors Inc. OH now owns 9,600 shares of the shipping company’s stock valued at $214,000 after buying an additional 900 shares during the last quarter. 82.83% of the stock is currently owned by hedge funds and other institutional investors.

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About Golar LNG

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)

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