Golar LNG (NASDAQ:GLNG) Downgraded to Sell Rating by Wall Street Zen

Wall Street Zen cut shares of Golar LNG (NASDAQ:GLNG) from a hold rating to a sell rating in a research report sent to investors on Saturday morning.

GLNG has been the topic of a number of other research reports. Weiss Ratings reissued a “hold (c+)” rating on shares of Golar LNG in a research report on Monday, December 29th. Zacks Research upgraded shares of Golar LNG from a “strong sell” rating to a “hold” rating in a report on Monday, January 5th. The Goldman Sachs Group set a $56.00 target price on shares of Golar LNG in a research report on Monday, February 2nd. Finally, BTIG Research upped their price target on shares of Golar LNG from $50.00 to $53.00 and gave the company a “buy” rating in a report on Wednesday. Three analysts have rated the stock with a Strong Buy rating, three have assigned a Buy rating and three have issued a Hold rating to the company’s stock. According to data from MarketBeat.com, the company currently has an average rating of “Buy” and a consensus target price of $50.50.

Golar LNG Price Performance

Shares of NASDAQ:GLNG opened at $44.46 on Friday. The stock has a market capitalization of $4.65 billion, a P/E ratio of 69.47 and a beta of 0.20. The business has a 50-day moving average of $40.69 and a two-hundred day moving average of $40.00. Golar LNG has a fifty-two week low of $29.56 and a fifty-two week high of $46.23. The company has a debt-to-equity ratio of 0.61, a current ratio of 1.32 and a quick ratio of 1.32.

Golar LNG (NASDAQ:GLNG) last issued its quarterly earnings data on Wednesday, February 25th. The shipping company reported $0.30 earnings per share for the quarter, missing analysts’ consensus estimates of $0.38 by ($0.08). Golar LNG had a net margin of 16.69% and a return on equity of 6.06%. The company had revenue of $132.81 million during the quarter, compared to the consensus estimate of $123.29 million. On average, equities research analysts predict that Golar LNG will post 1.39 EPS for the current fiscal year.

Golar LNG Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Wednesday, March 18th. Investors of record on Monday, March 9th will be paid a dividend of $0.25 per share. This represents a $1.00 annualized dividend and a yield of 2.2%. The ex-dividend date is Monday, March 9th. Golar LNG’s dividend payout ratio is presently 156.25%.

Institutional Investors Weigh In On Golar LNG

Several hedge funds have recently made changes to their positions in the stock. Amundi increased its stake in Golar LNG by 29.6% during the first quarter. Amundi now owns 19,586 shares of the shipping company’s stock valued at $744,000 after acquiring an additional 4,468 shares during the period. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. lifted its position in shares of Golar LNG by 4.6% in the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 58,915 shares of the shipping company’s stock worth $2,238,000 after acquiring an additional 2,572 shares during the period. CWM LLC grew its holdings in shares of Golar LNG by 110.1% during the 2nd quarter. CWM LLC now owns 1,855 shares of the shipping company’s stock worth $76,000 after purchasing an additional 972 shares in the last quarter. Envestnet Asset Management Inc. increased its position in shares of Golar LNG by 2.9% during the second quarter. Envestnet Asset Management Inc. now owns 49,202 shares of the shipping company’s stock valued at $2,027,000 after purchasing an additional 1,383 shares during the period. Finally, Bessemer Group Inc. increased its position in shares of Golar LNG by 13,084.4% during the second quarter. Bessemer Group Inc. now owns 17,799 shares of the shipping company’s stock valued at $733,000 after purchasing an additional 17,664 shares during the period. Institutional investors own 92.21% of the company’s stock.

Golar LNG Company Profile

Golar LNG Ltd. is a leading owner and operator of liquefied natural gas (LNG) carriers and floating infrastructure. The company specializes in the transportation of LNG on long-term and spot charters for major energy firms around the world. In addition to shipping, Golar LNG has broadened its services to include project development and the conversion of existing carriers into Floating Liquefied Natural Gas (FLNG) and Floating Storage and Regasification Unit (FSRU) vessels.

Since pioneering the first purpose-built FLNG conversion project, Golar LNG has been at the forefront of offshore gas monetization.