Golar LNG (GLNG) Raised to “Hold” at BidaskClub

BidaskClub upgraded shares of Golar LNG (NASDAQ:GLNG) from a sell rating to a hold rating in a research note issued to investors on Wednesday morning.

GLNG has been the subject of several other reports. Zacks Investment Research lowered Golar LNG from a hold rating to a sell rating in a research report on Tuesday, August 14th. Jefferies Financial Group set a $40.00 price objective on Golar LNG and gave the stock a buy rating in a research report on Wednesday, August 22nd. Berenberg Bank initiated coverage on Golar LNG in a research report on Thursday, September 6th. They issued a buy rating and a $32.00 price objective for the company. Bank of America lowered Golar LNG from a buy rating to a neutral rating and lowered their price objective for the stock from $31.00 to $30.00 in a research report on Thursday, July 12th. Finally, ValuEngine raised Golar LNG from a hold rating to a buy rating in a research report on Thursday, May 31st. Three equities research analysts have rated the stock with a hold rating and nine have issued a buy rating to the company’s stock. The company presently has an average rating of Buy and an average price target of $36.50.

Shares of GLNG opened at $25.23 on Wednesday. The stock has a market cap of $2.62 billion, a price-to-earnings ratio of -17.16 and a beta of 0.59. Golar LNG has a 12 month low of $19.32 and a 12 month high of $35.54. The company has a debt-to-equity ratio of 1.01, a quick ratio of 0.62 and a current ratio of 0.62.

Golar LNG (NASDAQ:GLNG) last announced its earnings results on Thursday, August 23rd. The shipping company reported ($0.38) EPS for the quarter, missing the Thomson Reuters’ consensus estimate of ($0.19) by ($0.19). The company had revenue of $59.37 million for the quarter, compared to analyst estimates of $63.15 million. Golar LNG had a negative return on equity of 6.37% and a negative net margin of 11.47%. equities research analysts forecast that Golar LNG will post -1.11 EPS for the current year.

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, October 3rd. Stockholders of record on Thursday, September 6th will be given a $0.125 dividend. The ex-dividend date is Wednesday, September 5th. This is a positive change from Golar LNG’s previous quarterly dividend of $0.05. This represents a $0.50 annualized dividend and a dividend yield of 1.98%. Golar LNG’s dividend payout ratio (DPR) is -34.01%.

Hedge funds have recently bought and sold shares of the company. Mount Yale Investment Advisors LLC bought a new position in shares of Golar LNG in the 2nd quarter worth about $106,000. Nisa Investment Advisors LLC increased its position in Golar LNG by 884.2% in the 2nd quarter. Nisa Investment Advisors LLC now owns 4,675 shares of the shipping company’s stock valued at $138,000 after buying an additional 4,200 shares in the last quarter. First Mercantile Trust Co. increased its position in Golar LNG by 92.8% in the 1st quarter. First Mercantile Trust Co. now owns 5,101 shares of the shipping company’s stock valued at $140,000 after buying an additional 2,455 shares in the last quarter. Sei Investments Co. increased its position in Golar LNG by 104.5% in the 2nd quarter. Sei Investments Co. now owns 5,326 shares of the shipping company’s stock valued at $156,000 after buying an additional 2,721 shares in the last quarter. Finally, Russell Investments Group Ltd. bought a new stake in Golar LNG in the 1st quarter valued at about $172,000. 82.87% of the stock is owned by hedge funds and other institutional investors.

Golar LNG Company Profile

Golar LNG Limited, a midstream liquefied natural gas (LNG) company, engages in the transportation, regasification, and liquefaction of LNG. It operates through three segments: Vessel operations, Floating Liquefaction Natural Gas Vessel (FLNG), and Power. The company engages in the acquisition, ownership, operation, and chartering of LNG carriers and floating storage regasification units (FSRUs); and the development of LNG projects.

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Analyst Recommendations for Golar LNG (NASDAQ:GLNG)

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