Golar LNG Ltd. (GLNG) Upgraded to “Hold” at ABN Amro
Other research analysts have also issued reports about the stock. DNB Markets raised shares of Golar LNG from a hold rating to a buy rating in a report on Friday, July 1st. Morgan Stanley assumed coverage on shares of Golar LNG in a research note on Tuesday, September 6th. They set a buy rating and a $30.00 price objective for the company. Jefferies Group reaffirmed a buy rating on shares of Golar LNG in a research note on Monday, August 1st. Zacks Investment Research lowered shares of Golar LNG from a hold rating to a sell rating in a research note on Wednesday, June 22nd. Finally, Sanford C. Bernstein lowered shares of Golar LNG from a buy rating to a sell rating and dropped their price objective for the stock from $38.00 to $10.00 in a research note on Thursday, June 30th. Three equities research analysts have rated the stock with a sell rating, two have given a hold rating and twelve have issued a buy rating to the company’s stock. The stock presently has a consensus rating of Buy and an average target price of $30.89.
Golar LNG (NASDAQ:GLNG) traded down 0.61% during mid-day trading on Monday, hitting $21.25. 53,083 shares of the stock were exchanged. The stock has a 50 day moving average of $20.91 and a 200-day moving average of $18.49. The stock’s market cap is $1.91 billion. Golar LNG has a 52-week low of $9.42 and a 52-week high of $34.69.
Golar LNG (NASDAQ:GLNG) last posted its earnings results on Wednesday, August 31st. The company reported ($0.96) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.47) by $0.49. Golar LNG had a negative net margin of 453.75% and a negative return on equity of 9.31%. Equities analysts predict that Golar LNG will post ($2.02) EPS for the current fiscal year.
The company also recently disclosed a quarterly dividend, which was paid on Monday, October 3rd. Investors of record on Wednesday, September 14th were issued a $0.05 dividend. The ex-dividend date of this dividend was Monday, September 12th. This represents a $0.20 annualized dividend and a dividend yield of 0.94%.
Several hedge funds have recently added to or reduced their stakes in GLNG. Fifth Third Bancorp increased its stake in Golar LNG by 21.0% in the second quarter. Fifth Third Bancorp now owns 7,500 shares of the company’s stock valued at $116,000 after buying an additional 1,300 shares during the last quarter. Pacad Investment Ltd. purchased a new stake in Golar LNG during the first quarter valued at $180,000. Loews Corp purchased a new stake in Golar LNG during the second quarter valued at $162,000. Fort Washington Investment Advisors Inc OH purchased a new stake in Golar LNG during the second quarter valued at $171,000. Finally, ProShare Advisors LLC purchased a new stake in Golar LNG during the second quarter valued at $173,000. Hedge funds and other institutional investors own 88.14% of the company’s stock.
Golar LNG Company Profile
Golar LNG Limited (Golar) is the owner and operator of liquefied natural gas (LNG) carriers and floating storage regasification units (FSRUs). As of March 31, 2010, Golar had a fleet of 13 vessels, 10 LNG carriers, three FSRUs and a 50% interest in a further LNG carrier. On June 22, 2009, the Company formed a wholly owned subsidiary, Golar LNG Energy Limited (Golar Energy).
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