Golar LNG (GLNG) Downgraded by BidaskClub
BidaskClub lowered shares of Golar LNG (NASDAQ:GLNG) from a strong-buy rating to a buy rating in a report released on Saturday morning.
A number of other brokerages also recently commented on GLNG. Jefferies Group assumed coverage on Golar LNG in a research report on Monday, December 18th. They issued a buy rating and a $39.00 price objective for the company. Cowen lifted their target price on Golar LNG from $41.00 to $44.00 and gave the company an outperform rating in a report on Tuesday, December 12th. Zacks Investment Research upgraded Golar LNG from a sell rating to a hold rating in a report on Wednesday, November 29th. Finally, ABN Amro upgraded Golar LNG from a hold rating to a buy rating in a report on Monday, October 30th. One analyst has rated the stock with a sell rating, two have given a hold rating and eight have assigned a buy rating to the stock. The stock currently has a consensus rating of Buy and an average target price of $35.17.
Shares of Golar LNG (NASDAQ:GLNG) traded down $0.35 during trading hours on Friday, hitting $29.43. The stock had a trading volume of 1,050,800 shares, compared to its average volume of 1,860,480. The stock has a market capitalization of $2,970.00, a P/E ratio of -15.82, a P/E/G ratio of 15.67 and a beta of 0.96. The company has a debt-to-equity ratio of 0.77, a quick ratio of 0.41 and a current ratio of 0.41. Golar LNG has a twelve month low of $19.32 and a twelve month high of $31.64.
The business also recently disclosed a quarterly dividend, which was paid on Thursday, January 4th. Shareholders of record on Thursday, December 14th were paid a dividend of $0.05 per share. This represents a $0.20 dividend on an annualized basis and a dividend yield of 0.68%. The ex-dividend date of this dividend was Wednesday, December 13th. Golar LNG’s dividend payout ratio is presently -10.75%.
Large investors have recently added to or reduced their stakes in the stock. Quantbot Technologies LP lifted its stake in shares of Golar LNG by 71.0% in the second quarter. Quantbot Technologies LP now owns 6,233 shares of the shipping company’s stock worth $138,000 after acquiring an additional 2,589 shares in the last quarter. Sei Investments Co. lifted its stake in shares of Golar LNG by 19.3% in the second quarter. Sei Investments Co. now owns 6,511 shares of the shipping company’s stock worth $145,000 after acquiring an additional 1,054 shares in the last quarter. PNC Financial Services Group Inc. lifted its stake in shares of Golar LNG by 104.0% in the second quarter. PNC Financial Services Group Inc. now owns 7,552 shares of the shipping company’s stock worth $168,000 after acquiring an additional 3,850 shares in the last quarter. Seven Eight Capital LP lifted its stake in shares of Golar LNG by 745.6% in the second quarter. Seven Eight Capital LP now owns 8,870 shares of the shipping company’s stock worth $197,000 after acquiring an additional 7,821 shares in the last quarter. Finally, Fort Washington Investment Advisors Inc. OH lifted its stake in shares of Golar LNG by 10.3% in the second quarter. Fort Washington Investment Advisors Inc. OH now owns 9,600 shares of the shipping company’s stock worth $214,000 after acquiring an additional 900 shares in the last quarter. Institutional investors and hedge funds own 82.83% of the company’s stock.
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Golar LNG Company Profile
Golar LNG Limited is a midstream liquefied natural gas (LNG) company engaged primarily in the transportation, regasification, liquefaction and trading of LNG. The Company is engaged in the acquisition, ownership, operation and chartering of LNG carriers and Floating Storage Regasification Unit (FSRUs) through its subsidiaries and affiliates, and the development of LNG projects, such as floating LNGs (FLNGs).
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