Golar LNG (NASDAQ:GLNG) Upgraded at Zacks Research

Golar LNG (NASDAQ:GLNG) was upgraded by equities research analysts at Zacks Research from a “strong sell” rating to a “hold” rating in a research note issued on Monday,Zacks.com reports.

Several other equities analysts also recently issued reports on the company. Wall Street Zen downgraded Golar LNG from a “hold” rating to a “sell” rating in a research report on Saturday, December 20th. The Goldman Sachs Group began coverage on shares of Golar LNG in a research note on Monday, September 29th. They issued a “buy” rating and a $54.00 price target for the company. Citigroup started coverage on shares of Golar LNG in a research note on Friday, October 10th. They set a “buy” rating and a $51.00 price objective on the stock. BTIG Research reissued a “buy” rating and issued a $50.00 price target on shares of Golar LNG in a report on Wednesday, November 5th. Finally, Weiss Ratings reissued a “hold (c+)” rating on shares of Golar LNG in a research note on Monday, December 29th. Three research analysts have rated the stock with a Strong Buy rating, three have given a Buy rating and three have assigned a Hold rating to the stock. According to MarketBeat.com, Golar LNG has an average rating of “Buy” and a consensus price target of $49.50.

Golar LNG Stock Performance

GLNG stock opened at $37.60 on Monday. Golar LNG has a 1 year low of $29.56 and a 1 year high of $45.98. The stock has a market capitalization of $3.93 billion, a price-to-earnings ratio of 65.97 and a beta of 0.18. The company has a debt-to-equity ratio of 0.61, a quick ratio of 1.32 and a current ratio of 1.32. The stock’s fifty day moving average is $37.86 and its two-hundred day moving average is $39.80.

Institutional Investors Weigh In On Golar LNG

Large investors have recently bought and sold shares of the business. Allworth Financial LP lifted its position in Golar LNG by 43.5% during the 2nd quarter. Allworth Financial LP now owns 990 shares of the shipping company’s stock worth $41,000 after acquiring an additional 300 shares during the last quarter. Signaturefd LLC increased its stake in shares of Golar LNG by 64.6% in the second quarter. Signaturefd LLC now owns 856 shares of the shipping company’s stock worth $35,000 after purchasing an additional 336 shares during the period. Metis Global Partners LLC lifted its position in shares of Golar LNG by 6.1% during the 2nd quarter. Metis Global Partners LLC now owns 6,829 shares of the shipping company’s stock worth $281,000 after purchasing an additional 395 shares during the last quarter. J.Safra Asset Management Corp boosted its stake in Golar LNG by 11.7% during the 2nd quarter. J.Safra Asset Management Corp now owns 4,005 shares of the shipping company’s stock valued at $166,000 after purchasing an additional 421 shares during the period. Finally, Legal & General Group Plc boosted its stake in Golar LNG by 2.8% during the 2nd quarter. Legal & General Group Plc now owns 17,100 shares of the shipping company’s stock valued at $704,000 after purchasing an additional 459 shares during the period. 92.21% of the stock is currently owned by institutional investors.

Golar LNG Company Profile

Golar LNG Ltd. is a leading owner and operator of liquefied natural gas (LNG) carriers and floating infrastructure. The company specializes in the transportation of LNG on long-term and spot charters for major energy firms around the world. In addition to shipping, Golar LNG has broadened its services to include project development and the conversion of existing carriers into Floating Liquefied Natural Gas (FLNG) and Floating Storage and Regasification Unit (FSRU) vessels.

Since pioneering the first purpose-built FLNG conversion project, Golar LNG has been at the forefront of offshore gas monetization.