Golar LNG Limited (NASDAQ:GLNG) Given Consensus Rating of “Moderate Buy” by Analysts

Golar LNG Limited (NASDAQ:GLNGGet Rating) has been given a consensus rating of “Moderate Buy” by the eight ratings firms that are presently covering the firm, MarketBeat reports. One research analyst has rated the stock with a hold rating and six have assigned a buy rating to the company. The average 1 year price objective among analysts that have updated their coverage on the stock in the last year is $31.88.

Several equities research analysts have recently issued reports on GLNG shares. Deutsche Bank Aktiengesellschaft increased their price objective on shares of Golar LNG from $17.00 to $33.00 and gave the stock a “buy” rating in a research report on Thursday, November 17th. StockNews.com started coverage on shares of Golar LNG in a research report on Wednesday, October 12th. They set a “hold” rating for the company. Finally, Bank of America raised shares of Golar LNG from a “neutral” rating to a “buy” rating and increased their price objective for the stock from $23.00 to $29.00 in a research report on Thursday, September 29th.

Institutional Trading of Golar LNG

A number of large investors have recently added to or reduced their stakes in GLNG. Goldman Sachs Group Inc. raised its stake in Golar LNG by 324.9% in the 2nd quarter. Goldman Sachs Group Inc. now owns 2,582,678 shares of the shipping company’s stock worth $58,756,000 after purchasing an additional 1,974,914 shares in the last quarter. Permian Investment Partners LP acquired a new stake in Golar LNG in the 1st quarter worth about $30,655,000. Renaissance Technologies LLC raised its stake in Golar LNG by 665.7% in the 2nd quarter. Renaissance Technologies LLC now owns 1,295,492 shares of the shipping company’s stock worth $29,472,000 after purchasing an additional 1,126,292 shares in the last quarter. Citigroup Inc. raised its stake in Golar LNG by 102.0% in the 1st quarter. Citigroup Inc. now owns 12,232 shares of the shipping company’s stock worth $303,000 after purchasing an additional 630,818 shares in the last quarter. Finally, FMR LLC increased its holdings in Golar LNG by 11.5% in the 2nd quarter. FMR LLC now owns 4,573,821 shares of the shipping company’s stock valued at $104,054,000 after buying an additional 470,416 shares during the period. Institutional investors and hedge funds own 72.45% of the company’s stock.

Golar LNG Trading Up 1.6 %

GLNG opened at $22.82 on Friday. Golar LNG has a fifty-two week low of $12.14 and a fifty-two week high of $30.66. The company has a debt-to-equity ratio of 0.35, a current ratio of 2.57 and a quick ratio of 2.57. The company has a market cap of $2.47 billion, a price-to-earnings ratio of 3.41 and a beta of 0.63. The firm has a 50 day simple moving average of $23.86 and a 200 day simple moving average of $24.73.

Golar LNG (NASDAQ:GLNGGet Rating) last issued its earnings results on Wednesday, November 16th. The shipping company reported $0.44 EPS for the quarter, beating the consensus estimate of $0.24 by $0.20. Golar LNG had a net margin of 218.75% and a return on equity of 5.91%. The firm had revenue of $67.91 million during the quarter, compared to the consensus estimate of $66.18 million. On average, sell-side analysts anticipate that Golar LNG will post 1.03 earnings per share for the current year.

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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Analyst Recommendations for Golar LNG (NASDAQ:GLNG)

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