Golar LNG (NASDAQ:GLNG) Stock Rating Lowered by Fearnley Fonds

Golar LNG (NASDAQ:GLNG) was downgraded by equities research analysts at Fearnley Fonds from a “strong-buy” rating to a “hold” rating in a report issued on Wednesday,Zacks.com reports.

Several other research firms have also commented on GLNG. StockNews.com raised shares of Golar LNG to a “sell” rating in a report on Wednesday. Deutsche Bank Aktiengesellschaft upped their price target on shares of Golar LNG from $43.00 to $56.00 and gave the stock a “buy” rating in a research report on Friday, August 16th. B. Riley upped their price target on shares of Golar LNG from $35.50 to $44.50 and gave the stock a “buy” rating in a research report on Friday, July 19th. Finally, Stifel Nicolaus reduced their price target on shares of Golar LNG from $55.00 to $53.00 and set a “buy” rating for the company in a research report on Friday, August 16th. One 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. Based on data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average price target of $49.63.

Golar LNG Trading Down 3.0 %

Shares of Golar LNG stock traded down $1.05 on Wednesday, hitting $33.94. 334,111 shares of the company traded hands, compared to its average volume of 1,189,487. The company has a market cap of $3.54 billion, a PE ratio of 26.11 and a beta of 0.58. Golar LNG has a 52 week low of $19.94 and a 52 week high of $39.40. The company has a current ratio of 1.24, a quick ratio of 1.28 and a debt-to-equity ratio of 0.31. The stock’s 50 day moving average price is $36.13 and its 200-day moving average price is $32.37.

Golar LNG (NASDAQ:GLNG) last issued its quarterly earnings results on Thursday, August 15th. The shipping company reported $0.42 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.44 by ($0.02). The business had revenue of $62.98 million for the quarter, compared to analyst estimates of $67.38 million. Golar LNG had a return on equity of 9.20% and a net margin of 50.89%. Equities research analysts predict that Golar LNG will post 1.53 EPS for the current year.

Institutional Trading of Golar LNG

Several hedge funds and other institutional investors have recently made changes to their positions in GLNG. Lowe Wealth Advisors LLC acquired a new position in shares of Golar LNG in the second quarter valued at approximately $45,000. Blue Trust Inc. increased its position in Golar LNG by 105.1% during the third 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. Sound Income Strategies LLC acquired a new position in Golar LNG during the third quarter worth approximately $52,000. EverSource Wealth Advisors LLC increased its position in Golar LNG by 206.2% during the second quarter. EverSource Wealth Advisors LLC now owns 1,727 shares of the shipping company’s stock worth $54,000 after purchasing an additional 1,163 shares during the last quarter. Finally, CWM LLC increased its position in Golar LNG by 830.9% during the third quarter. CWM LLC now owns 1,657 shares of the shipping company’s stock worth $61,000 after purchasing an additional 1,479 shares during the last quarter. Hedge funds and other institutional investors 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.