Golar LNG Target of Unusually High Options Trading (NASDAQ:GLNG)


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Golar LNG Limited (NASDAQ:GLNG) saw some unusual options trading activity on Wednesday. Stock traders acquired 20,997 call options on the stock. This represents an increase of approximately 830% compared to the average daily volume of 2,257 call options.

A number of hedge funds and other institutional investors have recently bought and sold shares of the business. Cobalt Capital Management Inc. bought a new stake in Golar LNG during the third quarter worth $533,000. Paloma Partners Management Co raised its position in shares of Golar LNG by 231.1% in the third quarter. Paloma Partners Management Co now owns 90,559 shares of the shipping company’s stock valued at $549,000 after purchasing an additional 63,208 shares during the period. Levin Capital Strategies L.P. bought a new position in shares of Golar LNG in the third quarter valued at about $993,000. Point72 Asset Management L.P. bought a new position in shares of Golar LNG in the third quarter valued at about $2,257,000. Finally, Squarepoint Ops LLC bought a new position in shares of Golar LNG in the third quarter valued at about $411,000. 54.43% of the stock is currently owned by hedge funds and other institutional investors.

A number of analysts have recently commented on GLNG shares. BidaskClub raised shares of Golar LNG from a “sell” rating to a “hold” rating in a research report on Wednesday, October 7th. Bank of America cut their price objective on shares of Golar LNG from $12.00 to $10.00 and set a “buy” rating on the stock in a research report on Friday, September 25th. Finally, ValuEngine raised shares of Golar LNG from a “hold” rating to a “buy” rating in a research report on Saturday, September 26th. Three analysts have rated the stock with a hold rating and five have given a buy rating to the stock. Golar LNG has an average rating of “Buy” and an average target price of $12.42.

NASDAQ GLNG opened at $12.64 on Thursday. The company has a quick ratio of 0.15, a current ratio of 0.15 and a debt-to-equity ratio of 0.88. The firm’s fifty day moving average price is $9.72 and its two-hundred day moving average price is $8.91. Golar LNG has a 1 year low of $4.54 and a 1 year high of $15.24.

Golar LNG (NASDAQ:GLNG) last posted its quarterly earnings results on Sunday, November 29th. The shipping company reported ($0.17) earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of ($0.10) by ($0.07). Golar LNG had a positive return on equity of 0.73% and a negative net margin of 55.97%. On average, analysts anticipate that Golar LNG will post -0.45 earnings per share for the current year.

Golar LNG Company Profile

Golar LNG Limited provides infrastructure for the liquefaction, transportation, regasification, and downstream distribution 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, FLNG, and floating storage regasification units (FSRUs); and the development of gas to power projects, as well as LNG distribution operations.

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