Golar LNG (NASDAQ:GLNG) Raised to Strong-Buy at Fearnley Fonds

Golar LNG (NASDAQ:GLNG) was upgraded by investment analysts at Fearnley Fonds from a “hold” rating to a “strong-buy” rating in a research report issued on Wednesday,Zacks.com reports.

Several other equities research analysts also recently weighed in on GLNG. DNB Markets downgraded Golar LNG from a “buy” rating to a “hold” rating in a report on Wednesday, February 19th. Stifel Nicolaus increased their price target on Golar LNG from $53.00 to $55.00 and gave the stock a “buy” rating in a report on Tuesday, December 24th. Finally, StockNews.com upgraded Golar LNG to a “sell” rating in a report on Thursday. One investment analyst has rated the stock with a sell rating, one has issued a hold rating, four have issued a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus target price of $50.13.

Golar LNG Price Performance

Shares of GLNG stock opened at $38.30 on Wednesday. Golar LNG has a 1 year low of $23.45 and a 1 year high of $44.36. The stock’s 50 day simple moving average is $38.92 and its two-hundred day simple moving average is $38.33. The company has a market cap of $4.00 billion, a PE ratio of 273.59 and a beta of 0.78.

Institutional Inflows and Outflows

Institutional investors have recently bought and sold shares of the company. Barclays PLC increased its holdings in Golar LNG by 431.3% during the 3rd quarter. Barclays PLC now owns 185,018 shares of the shipping company’s stock worth $6,802,000 after purchasing an additional 150,195 shares during the period. De Lisle Partners LLP increased its holdings in Golar LNG by 9.1% during the 3rd quarter. De Lisle Partners LLP now owns 249,390 shares of the shipping company’s stock worth $9,169,000 after purchasing an additional 20,890 shares during the period. Healthcare of Ontario Pension Plan Trust Fund boosted its position in Golar LNG by 467.9% during the 3rd quarter. Healthcare of Ontario Pension Plan Trust Fund now owns 2,237,000 shares of the shipping company’s stock valued at $82,232,000 after acquiring an additional 1,843,100 shares in the last quarter. JPMorgan Chase & Co. boosted its position in Golar LNG by 37.0% during the 3rd quarter. JPMorgan Chase & Co. now owns 218,971 shares of the shipping company’s stock valued at $8,049,000 after acquiring an additional 59,188 shares in the last quarter. Finally, Stifel Financial Corp boosted its position in Golar LNG by 21.8% during the 3rd quarter. Stifel Financial Corp now owns 639,813 shares of the shipping company’s stock valued at $23,520,000 after acquiring an additional 114,531 shares in the last quarter. 92.21% of the stock is currently owned by hedge funds and other institutional investors.

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.