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

Golar LNG (NASDAQ:GLNG) was downgraded by analysts at StockNews.com from a “hold” rating to a “sell” rating in a report released on Thursday.

Golar LNG Stock Up 0.3 %

Shares of Golar LNG stock opened at $25.10 on Thursday. The stock has a 50-day moving average price of $23.46 and a 200 day moving average price of $22.72. The company has a market cap of $2.62 billion, a P/E ratio of -58.37 and a beta of 0.61. The company has a current ratio of 1.49, a quick ratio of 1.49 and a debt-to-equity ratio of 0.34. Golar LNG has a 1 year low of $19.62 and a 1 year high of $25.90.

Golar LNG (NASDAQ:GLNG) last announced its quarterly earnings data on Thursday, February 29th. The shipping company reported $0.90 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.50 by $0.40. The firm had revenue of $78.65 million during the quarter, compared to the consensus estimate of $76.85 million. Golar LNG had a positive return on equity of 11.67% and a negative net margin of 15.68%. As a group, analysts expect that Golar LNG will post 1.66 EPS for the current fiscal year.

Institutional Investors Weigh In On Golar LNG

Several hedge funds have recently bought and sold shares of the business. Exchange Traded Concepts LLC purchased a new stake in shares of Golar LNG during the 3rd quarter worth about $32,000. Headlands Technologies LLC purchased a new stake in shares of Golar LNG during the 4th quarter worth about $117,000. Zurcher Kantonalbank Zurich Cantonalbank raised its stake in shares of Golar LNG by 26,805.3% during the 4th quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 5,112 shares of the shipping company’s stock worth $118,000 after purchasing an additional 5,093 shares in the last quarter. Cetera Trust Company N.A purchased a new stake in shares of Golar LNG during the 4th quarter worth about $133,000. Finally, Aigen Investment Management LP purchased a new stake in shares of Golar LNG during the 3rd quarter worth about $201,000. 92.21% of the stock is owned by hedge funds and other institutional investors.

About Golar LNG

Golar LNG Limited designs, owns, and operates marine infrastructure for the liquefaction of natural gas. The company operates through three segments: FLNG, Corporate and Other, and Shipping. It also engages in the regasification, storage, and offloading of liquefied natural gas (LNG); operation of floating liquefaction natural gas (FLNG) vessels; operation of the transportation of LNG carriers; and vessel management.