Golar LNG (NASDAQ:GLNG) Cut to “Hold” at DNB Markets

DNB Markets lowered shares of Golar LNG (NASDAQ:GLNG) from a buy rating to a hold rating in a research note issued to investors on Wednesday morning, MarketBeat.com reports.

A number of other equities research analysts have also issued reports on GLNG. StockNews.com upgraded Golar LNG to a “sell” rating in a research note on Monday, December 9th. Fearnley Fonds lowered Golar LNG from a “strong-buy” rating to a “hold” rating in a research note on Wednesday, November 13th. Finally, Stifel Nicolaus raised their price objective on Golar LNG from $53.00 to $55.00 and gave the company a “buy” rating in a research note on Tuesday, December 24th. One equities research analyst has rated the stock with a sell rating, two have given a hold rating and four have issued a buy rating to the stock. According to data from MarketBeat.com, Golar LNG currently has a consensus rating of “Hold” and an average target price of $50.13.

Golar LNG Stock Performance

GLNG stock opened at $40.78 on Wednesday. Golar LNG has a 1 year low of $19.94 and a 1 year high of $44.36. The firm has a market cap of $4.26 billion, a P/E ratio of 291.31 and a beta of 0.55. The stock has a 50-day simple moving average of $41.58 and a 200-day simple moving average of $37.89.

Institutional Inflows and Outflows

Several hedge funds have recently made changes to their positions in the company. Summit Investment Advisors Inc. grew its position in shares of Golar LNG by 3.3% in the 4th quarter. Summit Investment Advisors Inc. now owns 10,354 shares of the shipping company’s stock worth $438,000 after acquiring an additional 328 shares in the last quarter. Mariner LLC lifted its holdings in shares of Golar LNG by 7.4% in the 4th quarter. Mariner LLC now owns 5,995 shares of the shipping company’s stock worth $254,000 after purchasing an additional 414 shares during the last quarter. Kingswood Wealth Advisors LLC lifted its holdings in shares of Golar LNG by 5.0% in the 4th quarter. Kingswood Wealth Advisors LLC now owns 10,500 shares of the shipping company’s stock worth $444,000 after purchasing an additional 500 shares during the last quarter. Metis Global Partners LLC lifted its holdings in shares of Golar LNG by 9.8% in the 4th quarter. Metis Global Partners LLC now owns 5,996 shares of the shipping company’s stock worth $254,000 after purchasing an additional 534 shares during the last quarter. Finally, Blue Trust Inc. lifted its holdings in shares of Golar LNG by 105.1% in the 3rd quarter. Blue Trust Inc. now owns 1,372 shares of the shipping company’s stock worth $50,000 after purchasing an additional 703 shares during the last quarter. Institutional investors and hedge funds own 92.21% of the company’s stock.

Golar LNG Company Profile

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.