Golar LNG (NASDAQ:GLNG) Upgraded to Hold at StockNews.com

Golar LNG (NASDAQ:GLNG – Get Rating) was upgraded by StockNews.com from a “sell” rating to a “hold” rating in a note issued to investors on Tuesday.

Other equities research analysts also recently issued research reports about the company. Bank of America raised Golar LNG from an “underperform” rating to a “neutral” rating and increased their price target for the stock from $14.00 to $19.50 in a research report on Thursday, March 3rd. Jefferies Financial Group began coverage on Golar LNG in a research report on Wednesday, April 27th. They set a “buy” rating on the stock. TheStreet raised Golar LNG from a “d+” rating to a “c-” rating in a research report on Wednesday, March 23rd. BTIG Research raised their target price on Golar LNG from $20.00 to $30.00 and gave the company a “buy” rating in a report on Monday, March 14th. Finally, Zacks Investment Research raised Golar LNG from a “hold” rating to a “strong-buy” rating and set a $17.00 target price on the stock in a report on Tuesday, February 15th. Two equities research analysts have rated the stock with a hold rating, three have given a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat, the stock presently has an average rating of “Buy” and an average price target of $24.40.

NASDAQ:GLNG traded down $0.10 during trading hours on Tuesday, reaching $26.42. 2,686,658 shares of the company were exchanged, compared to its average volume of 1,566,329. The company has a market capitalization of $2.86 billion, a P/E ratio of 3.94 and a beta of 0.72. Golar LNG has a 1-year low of $10.01 and a 1-year high of $27.52. The company has a debt-to-equity ratio of -0.44, a current ratio of 1.74 and a quick ratio of 1.74. The business has a 50 day moving average of $24.29 and a 200 day moving average of $18.16.

Institutional investors and hedge funds have recently made changes to their positions in the company. TCI Wealth Advisors Inc. raised its position in Golar LNG by 39.4% during the 1st quarter. TCI Wealth Advisors Inc. now owns 1,734 shares of the shipping company’s stock worth $43,000 after purchasing an additional 490 shares during the last quarter. New York State Common Retirement Fund lifted its holdings in shares of Golar LNG by 1.1% in the 1st quarter. New York State Common Retirement Fund now owns 74,835 shares of the shipping company’s stock worth $1,854,000 after purchasing an additional 821 shares in the last quarter. Cohanzick Management LLC bought a new position in shares of Golar LNG in the 1st quarter worth $37,000. Ahrens Investment Partners LLC bought a new position in shares of Golar LNG in the 1st quarter worth $50,000. Finally, Captrust Financial Advisors raised its position in Golar LNG by 1,152.5% in the 1st quarter. Captrust Financial Advisors now owns 2,292 shares of the shipping company’s stock valued at $57,000 after buying an additional 2,109 shares during the last quarter. Institutional investors own 82.17% of the company’s stock.

About Golar LNG (Get Rating)

Golar LNG Limited designs, builds, owns, and operates marine infrastructure for the liquefaction and regasification of LNG. It operates through Shipping and FLNG segments. The company engages in the operation and chartering of LNG carriers, Floating Liquefaction Natural Gas Vessel (FLNG), and floating storage regasification units (FSRUs), as well as operates external vessels.

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• Get a free copy of the StockNews.com research report on Golar LNG (GLNG)
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