Golar LNG (NASDAQ:GLNG) Stock Rating Upgraded by StockNews.com

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

Other analysts also recently issued research reports about the company. Deutsche Bank Aktiengesellschaft lifted their target price on Golar LNG from $28.00 to $40.00 and gave the company a “buy” rating in a research note on Wednesday, May 29th. BTIG Research raised their price target on Golar LNG from $36.00 to $45.00 and gave the company a “buy” rating in a report on Tuesday, June 25th. Finally, Stifel Nicolaus raised their price target on Golar LNG from $34.00 to $55.00 and gave the company a “buy” rating in a report on Monday, June 24th. Three analysts have rated the stock with a hold rating and three have given a buy rating to the company. Based on data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average price target of $41.75.

Golar LNG Stock Performance

Shares of NASDAQ GLNG remained flat at $34.30 during trading on Thursday. The stock had a trading volume of 1,016,701 shares, compared to its average volume of 1,183,530. The company has a 50 day simple moving average of $28.32 and a 200 day simple moving average of $24.88. The company has a quick ratio of 1.49, a current ratio of 1.49 and a debt-to-equity ratio of 0.34. Golar LNG has a 1 year low of $19.94 and a 1 year high of $34.59. The company has a market capitalization of $3.59 billion, a price-to-earnings ratio of 32.67 and a beta of 0.64.

Golar LNG (NASDAQ:GLNG) last issued its earnings results on Tuesday, May 28th. The shipping company reported $0.45 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.44 by $0.01. The company had revenue of $63.19 million for the quarter, compared to the consensus estimate of $72.27 million. Golar LNG had a return on equity of 10.15% and a net margin of 38.11%. As a group, analysts predict that Golar LNG will post 1.88 EPS for the current year.

Hedge Funds Weigh In On Golar LNG

A number of institutional investors and hedge funds have recently modified their holdings of the stock. Lake Hills Wealth Management LLC purchased a new position in shares of Golar LNG in the 2nd quarter worth approximately $212,000. Lowe Wealth Advisors LLC purchased a new position in Golar LNG during the 2nd quarter valued at $45,000. Yaupon Capital Management LP purchased a new position in Golar LNG during the 1st quarter valued at $764,000. Tidal Investments LLC purchased a new position in Golar LNG during the 1st quarter valued at $291,000. Finally, Levin Capital Strategies L.P. boosted its holdings in Golar LNG by 122.0% during the 1st quarter. Levin Capital Strategies L.P. now owns 75,060 shares of the shipping company’s stock valued at $1,806,000 after acquiring an additional 41,250 shares during the period. Hedge funds and other institutional investors own 92.21% of the company’s stock.

About Golar LNG

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.