Golar LNG (NASDAQ:GLNG) Raised to Hold at Wall Street Zen

Golar LNG (NASDAQ:GLNG) was upgraded by investment analysts at Wall Street Zen from a “sell” rating to a “hold” rating in a report released on Monday.

Several other brokerages have also commented on GLNG. The Goldman Sachs Group assumed coverage on Golar LNG in a research note on Monday, September 29th. They set a “buy” rating and a $54.00 price target on the stock. Citigroup initiated coverage on Golar LNG in a research note on Friday, October 10th. They issued a “buy” rating and a $51.00 target price on the stock. B. Riley reiterated a “neutral” rating and set a $44.50 price target on shares of Golar LNG in a report on Monday, August 25th. Zacks Research downgraded Golar LNG from a “hold” rating to a “strong sell” rating in a research report on Friday, November 7th. Finally, BTIG Research restated a “buy” rating and issued a $50.00 target price on shares of Golar LNG in a report on Wednesday, November 5th. Three equities research analysts have rated the stock with a Strong Buy rating, four have given a Buy rating, two have assigned a Hold rating and one has assigned a Sell rating to the company. Based on data from MarketBeat, Golar LNG presently has a consensus rating of “Moderate Buy” and a consensus price target of $50.42.

Golar LNG Stock Down 0.5%

Golar LNG stock opened at $38.49 on Monday. Golar LNG has a 1-year low of $29.56 and a 1-year high of $45.98. The company has a debt-to-equity ratio of 0.61, a current ratio of 1.32 and a quick ratio of 1.32. The stock’s 50 day moving average price is $38.50 and its 200 day moving average price is $40.39. The company has a market cap of $4.02 billion, a PE ratio of 67.53 and a beta of 0.18.

Institutional Trading of Golar LNG

Several large investors have recently added to or reduced their stakes in the stock. CIBC Bancorp USA Inc. purchased a new stake in shares of Golar LNG in the third quarter worth about $431,000. Danske Bank A S purchased a new position in Golar LNG in the 3rd quarter worth approximately $56,574,000. Caitong International Asset Management Co. Ltd grew its position in Golar LNG by 278.2% in the third quarter. Caitong International Asset Management Co. Ltd now owns 658 shares of the shipping company’s stock valued at $27,000 after acquiring an additional 484 shares in the last quarter. XTX Topco Ltd acquired a new stake in Golar LNG in the third quarter valued at approximately $934,000. Finally, Two Seas Capital LP raised its stake in shares of Golar LNG by 20.5% during the third quarter. Two Seas Capital LP now owns 1,095,998 shares of the shipping company’s stock valued at $44,289,000 after purchasing an additional 186,643 shares during the period. 92.21% of the stock is currently owned by institutional investors and hedge funds.

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.