Golar LNG (NASDAQ:GLNG) Upgraded at StockNews.com

StockNews.com upgraded shares of Golar LNG (NASDAQ:GLNG) to a sell rating in a research report sent to investors on Wednesday morning.

Other equities research analysts have also recently issued research reports about the stock. Stifel Nicolaus lowered 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. B. Riley raised their price objective on Golar LNG from $35.50 to $44.50 and gave the company a “buy” rating in a research report on Friday, July 19th. Finally, Deutsche Bank Aktiengesellschaft boosted their price objective on shares of Golar LNG from $43.00 to $56.00 and gave the stock a “buy” rating in a research note on Friday, August 16th. One investment analyst has rated the stock with a sell rating and four have given a buy rating to the company’s stock. Based on data from MarketBeat, Golar LNG has a consensus rating of “Moderate Buy” and a consensus target price of $49.63.

Golar LNG Trading Down 4.3 %

Shares of GLNG opened at $34.88 on Wednesday. The company has a 50-day moving average of $36.13 and a 200 day moving average of $32.37. The company has a debt-to-equity ratio of 0.31, a current ratio of 1.24 and a quick ratio of 1.28. Golar LNG has a 1-year low of $19.94 and a 1-year high of $39.40. The firm has a market capitalization of $3.65 billion, a price-to-earnings ratio of 26.03 and a beta of 0.58.

Golar LNG (NASDAQ:GLNG) last posted 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 firm had revenue of $62.98 million for the quarter, compared to the consensus estimate of $67.38 million. Golar LNG had a return on equity of 9.20% and a net margin of 50.89%. On average, research analysts expect that Golar LNG will post 1.53 EPS for the current year.

Golar LNG Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Monday, December 2nd. Shareholders of record on Monday, November 25th will be given a dividend of $0.25 per share. The ex-dividend date of this dividend is Monday, November 25th. This represents a $1.00 dividend on an annualized basis and a yield of 2.87%. Golar LNG’s dividend payout ratio is currently 74.63%.

Hedge Funds Weigh In On Golar LNG

Hedge funds and other institutional investors have recently bought and sold shares of the business. Lowe Wealth Advisors LLC acquired a new position in Golar LNG during the second quarter valued at $45,000. 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 valued at $50,000 after buying an additional 703 shares during the period. Sound Income Strategies LLC purchased a new stake in shares of Golar LNG in the third quarter worth about $52,000. EverSource Wealth Advisors LLC grew its holdings 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 acquiring an additional 1,163 shares during the period. Finally, CWM LLC raised 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 valued at $61,000 after acquiring an additional 1,479 shares in 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.