Golar LNG (NASDAQ:GLNG) Raised to Sell at StockNews.com

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

Several other analysts also recently weighed in on GLNG. Deutsche Bank Aktiengesellschaft upped their price target on Golar LNG from $43.00 to $56.00 and gave the stock a buy rating in a research note on Friday, August 16th. B. Riley increased their target price on Golar LNG from $35.50 to $44.50 and gave the company a buy rating in a research note on Friday, July 19th. Stifel Nicolaus cut their target price on Golar LNG from $55.00 to $53.00 and set a buy rating on the stock in a research note on Friday, August 16th. Finally, BTIG Research increased their target price on Golar LNG from $36.00 to $45.00 and gave the company a buy rating in a research note on Tuesday, June 25th. One research analyst has rated the stock with a sell rating, one has issued a hold rating and four have given a buy rating to the company. According to data from MarketBeat, the company currently has a consensus rating of Moderate Buy and an average target price of $45.10.

Golar LNG Stock Performance

Golar LNG stock opened at $34.11 on Thursday. The company has a quick ratio of 1.28, a current ratio of 1.24 and a debt-to-equity ratio of 0.31. The company has a market capitalization of $3.57 billion, a P/E ratio of 32.49 and a beta of 0.58. The stock’s 50 day moving average is $33.19 and its 200 day moving average is $28.87. Golar LNG has a twelve month low of $19.94 and a twelve month high of $36.52.

Golar LNG (NASDAQ:GLNG) last posted its quarterly earnings results 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 company had revenue of $62.98 million during 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%. On average, equities research analysts predict that Golar LNG will post 1.56 earnings per share for the current fiscal year.

Golar LNG Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Tuesday, September 3rd. Stockholders of record on Monday, August 26th were issued a dividend of $0.25 per share. The ex-dividend date of this dividend was Monday, August 26th. This represents a $1.00 annualized dividend and a dividend yield of 2.93%. Golar LNG’s payout ratio is 95.24%.

Hedge Funds Weigh In On Golar LNG

Hedge funds and other institutional investors have recently modified their holdings of the company. Lowe Wealth Advisors LLC bought a new position in shares of Golar LNG during the 2nd quarter valued at $45,000. EverSource Wealth Advisors LLC lifted its holdings in shares of Golar LNG by 206.2% during the 2nd quarter. EverSource Wealth Advisors LLC now owns 1,727 shares of the shipping company’s stock valued at $54,000 after buying an additional 1,163 shares during the period. Quarry LP lifted its holdings in shares of Golar LNG by 1,559.3% during the 2nd quarter. Quarry LP now owns 2,323 shares of the shipping company’s stock valued at $73,000 after buying an additional 2,183 shares during the period. Banque Cantonale Vaudoise lifted its holdings in shares of Golar LNG by 11.1% during the 2nd quarter. Banque Cantonale Vaudoise now owns 4,185 shares of the shipping company’s stock valued at $132,000 after buying an additional 417 shares during the period. Finally, Lake Hills Wealth Management LLC bought a new position in Golar LNG in the 2nd quarter worth $212,000. 92.21% of the stock is owned by institutional investors.

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.