Golar LNG (NASDAQ:GLNG) Raised to “Sell” at StockNews.com

StockNews.com upgraded shares of Golar LNG (NASDAQ:GLNG) to a sell rating in a report released on Tuesday.

A number of other analysts also recently issued reports on the company. Deutsche Bank Aktiengesellschaft raised their target price on Golar LNG from $43.00 to $56.00 and gave the stock a buy rating in a research note on Friday, August 16th. BTIG Research raised their target price on Golar LNG from $36.00 to $45.00 and gave the stock a buy rating in a research note on Tuesday, June 25th. Stifel Nicolaus cut their target price on Golar LNG from $55.00 to $53.00 and set a buy rating for the company in a research note on Friday, August 16th. Finally, B. Riley raised their target price on Golar LNG from $35.50 to $44.50 and gave the stock a buy rating in a research note on Friday, July 19th. One equities research analyst has rated the stock with a sell rating and four have given a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of Moderate Buy and a consensus price target of $49.63.

Golar LNG Stock Down 0.0 %

NASDAQ GLNG opened at $38.84 on Tuesday. The business has a fifty day moving average price of $33.54 and a 200 day moving average price of $29.73. Golar LNG has a one year low of $19.94 and a one year high of $38.99. The company has a debt-to-equity ratio of 0.31, a quick ratio of 1.28 and a current ratio of 1.24. The company has a market cap of $4.06 billion, a P/E ratio of 36.99 and a beta of 0.58.

Golar LNG (NASDAQ:GLNG) last issued its earnings results on Thursday, August 15th. The shipping company reported $0.42 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.44 by ($0.02). Golar LNG had a return on equity of 9.20% and a net margin of 50.89%. The company had revenue of $62.98 million during the quarter, compared to analyst estimates of $67.38 million. Research analysts anticipate that Golar LNG will post 1.56 EPS for the current fiscal year.

Golar LNG Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Tuesday, September 3rd. Stockholders of record on Monday, August 26th were issued a dividend of $0.25 per share. This represents a $1.00 dividend on an annualized basis and a dividend yield of 2.57%. The ex-dividend date was Monday, August 26th. Golar LNG’s dividend payout ratio is presently 95.24%.

Hedge Funds Weigh In On Golar LNG

A number of hedge funds have recently modified their holdings of the business. Truist Financial Corp purchased a new position in shares of Golar LNG during the 2nd quarter worth $242,000. Quarry LP boosted its holdings in Golar LNG by 1,559.3% during the 2nd quarter. Quarry LP now owns 2,323 shares of the shipping company’s stock valued at $73,000 after acquiring an additional 2,183 shares during the period. Murchinson Ltd. purchased a new position in Golar LNG during the 2nd quarter valued at about $1,301,000. Driehaus Capital Management LLC purchased a new position in Golar LNG during the 2nd quarter valued at about $10,554,000. Finally, Susquehanna Fundamental Investments LLC purchased a new position in Golar LNG during the 2nd quarter valued at about $5,805,000. 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.