Golar LNG (GLNG) Now Covered by Scotiabank

Scotiabank assumed coverage on shares of Golar LNG (NASDAQ:GLNG) in a report published on Friday morning, The Fly reports. The brokerage issued an outperform rating on the shipping company’s stock.

Several other equities analysts have also weighed in on GLNG. BidaskClub lowered Golar LNG from a hold rating to a sell rating in a research note on Thursday, January 17th. Bank of America upgraded Golar LNG from a neutral rating to a buy rating and set a $32.00 price objective for the company in a research report on Thursday, October 18th. Cowen set a $41.00 price target on Golar LNG and gave the stock a buy rating in a research report on Sunday, December 30th. Jefferies Financial Group set a $40.00 price objective on Golar LNG and gave the company a buy rating in a report on Friday, November 2nd. Finally, Morgan Stanley boosted their target price on Golar LNG from $32.00 to $35.00 and gave the stock a buy rating in a research report on Tuesday, November 6th. Two equities research analysts have rated the stock with a sell rating, one has issued a hold rating and twelve have given a buy rating to the stock. Golar LNG presently has an average rating of Buy and an average price target of $34.55.

Shares of GLNG stock opened at $21.63 on Friday. The firm has a market capitalization of $2.18 billion, a PE ratio of -14.71 and a beta of 0.78. Golar LNG has a fifty-two week low of $20.49 and a fifty-two week high of $35.54. The company has a debt-to-equity ratio of 0.83, a current ratio of 0.62 and a quick ratio of 0.62.

Institutional investors have recently modified their holdings of the business. California Public Employees Retirement System boosted its stake in Golar LNG by 2.7% during the 2nd quarter. California Public Employees Retirement System now owns 91,260 shares of the shipping company’s stock valued at $2,689,000 after purchasing an additional 2,360 shares during the last quarter. Northern Trust Corp grew its position in shares of Golar LNG by 4.3% during the 2nd quarter. Northern Trust Corp now owns 917,691 shares of the shipping company’s stock valued at $27,036,000 after purchasing an additional 38,255 shares in the last quarter. DNB Asset Management AS grew its position in shares of Golar LNG by 390.5% during the 3rd quarter. DNB Asset Management AS now owns 212,400 shares of the shipping company’s stock valued at $5,905,000 after purchasing an additional 169,100 shares in the last quarter. Deprince Race & Zollo Inc. purchased a new position in Golar LNG in the third quarter worth $250,000. Finally, Seven Eight Capital LP grew its position in Golar LNG by 108.4% in the third quarter. Seven Eight Capital LP now owns 59,800 shares of the shipping company’s stock worth $1,662,000 after acquiring an additional 31,100 shares in the last quarter. Hedge funds and other institutional investors own 77.54% of the company’s stock.

About Golar LNG

Golar LNG Limited, a midstream liquefied natural gas (LNG) company, engages in the transportation, regasification, and liquefaction of LNG. It operates through three segments: Vessel operations, Floating Liquefaction Natural Gas Vessel (FLNG), and Power. The company engages in the acquisition, ownership, operation, and chartering of LNG carriers and floating storage regasification units (FSRUs); and the development of LNG projects.

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Analyst Recommendations for Golar LNG (NASDAQ:GLNG)

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