BidaskClub Downgrades Golar LNG (GLNG) to Buy

Golar LNG (NASDAQ:GLNG) was downgraded by BidaskClub from a “strong-buy” rating to a “buy” rating in a report released on Saturday.

A number of other equities research analysts also recently weighed in on GLNG. ABN Amro upgraded Golar LNG from a “hold” rating to a “buy” rating in a research report on Monday, October 30th. Zacks Investment Research downgraded Golar LNG from a “hold” rating to a “sell” rating in a research report on Tuesday, October 31st. Cowen raised their price target on Golar LNG from $41.00 to $44.00 and gave the company an “outperform” rating in a research report on Tuesday, December 12th. Finally, Jefferies Group assumed coverage on Golar LNG in a research report on Monday, December 18th. They set a “buy” rating and a $39.00 price target on the stock. One analyst has rated the stock with a sell rating, two have issued a hold rating and eight have issued a buy rating to the stock. The company presently has an average rating of “Buy” and a consensus price target of $35.17.

Shares of Golar LNG (NASDAQ GLNG) opened at $29.78 on Friday. The stock has a market capitalization of $3,010.00, a price-to-earnings ratio of -16.01, a P/E/G ratio of 15.67 and a beta of 0.96. Golar LNG has a 52 week low of $19.32 and a 52 week high of $31.64. The company has a debt-to-equity ratio of 0.77, a quick ratio of 0.41 and a current ratio of 0.41.

Hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Quantbot Technologies LP increased its holdings in shares of Golar LNG by 71.0% in the second quarter. Quantbot Technologies LP now owns 6,233 shares of the shipping company’s stock worth $138,000 after buying an additional 2,589 shares during the period. Sei Investments Co. increased its holdings in shares of Golar LNG by 19.3% in the second quarter. Sei Investments Co. now owns 6,511 shares of the shipping company’s stock worth $145,000 after buying an additional 1,054 shares during the period. PNC Financial Services Group Inc. increased its holdings in shares of Golar LNG by 104.0% in the second quarter. PNC Financial Services Group Inc. now owns 7,552 shares of the shipping company’s stock worth $168,000 after buying an additional 3,850 shares during the period. Seven Eight Capital LP increased its holdings in shares of Golar LNG by 745.6% in the second quarter. Seven Eight Capital LP now owns 8,870 shares of the shipping company’s stock worth $197,000 after buying an additional 7,821 shares during the period. Finally, Fort Washington Investment Advisors Inc. OH increased its holdings in shares of Golar LNG by 10.3% in the second quarter. Fort Washington Investment Advisors Inc. OH now owns 9,600 shares of the shipping company’s stock worth $214,000 after buying an additional 900 shares during the period. Institutional investors and hedge funds own 82.83% of the company’s stock.

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About Golar LNG

Golar LNG Limited is a midstream liquefied natural gas (LNG) company engaged primarily in the transportation, regasification, liquefaction and trading of LNG. The Company is engaged in the acquisition, ownership, operation and chartering of LNG carriers and Floating Storage Regasification Unit (FSRUs) through its subsidiaries and affiliates, and the development of LNG projects, such as floating LNGs (FLNGs).

Analyst Recommendations for Golar LNG (NASDAQ:GLNG)

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