Golar LNG (NASDAQ:GLNG) Upgraded at StockNews.com

StockNews.com upgraded shares of Golar LNG (NASDAQ:GLNG) to a sell rating in a research report released on Wednesday.

A number of other equities analysts also recently weighed in on GLNG. Deutsche Bank Aktiengesellschaft boosted their target price on shares of Golar LNG from $43.00 to $56.00 and gave the stock a “buy” rating in a research note on Friday, August 16th. B. Riley boosted their target price on shares of Golar LNG from $35.50 to $44.50 and gave the stock a “buy” rating in a research note on Friday, July 19th. Finally, Stifel Nicolaus dropped their target price on shares of Golar LNG from $55.00 to $53.00 and set a “buy” rating for the company in a research note on Friday, August 16th. One investment analyst has rated the stock with a sell rating, one has assigned a hold rating and four have given a buy rating to the company’s stock. According to data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average target price of $49.63.

Golar LNG Trading Down 2.8 %

Shares of GLNG stock opened at $34.00 on Wednesday. Golar LNG has a 12-month low of $19.94 and a 12-month high of $39.40. The company has a market capitalization of $3.55 billion, a P/E ratio of 25.37 and a beta of 0.58. The firm has a 50-day moving average price of $36.19 and a 200 day moving average price of $32.38. The company has a quick ratio of 1.28, a current ratio of 1.24 and a debt-to-equity ratio of 0.31.

Golar LNG (NASDAQ:GLNG) last announced its quarterly earnings results on Thursday, August 15th. The shipping company reported $0.42 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.44 by ($0.02). Golar LNG had a net margin of 50.89% and a return on equity of 9.20%. The firm had revenue of $62.98 million for the quarter, compared to the consensus estimate of $67.38 million. Research analysts forecast that Golar LNG will post 1.53 earnings per share for the current fiscal year.

Golar LNG Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Monday, December 2nd. Stockholders of record on Monday, November 25th will be given a dividend of $0.25 per share. This represents a $1.00 annualized dividend and a dividend yield of 2.94%. The ex-dividend date of this dividend is Monday, November 25th. Golar LNG’s dividend payout ratio is 74.63%.

Institutional Investors Weigh In On Golar LNG

Several institutional investors have recently modified their holdings of the business. Donald Smith & CO. Inc. grew its holdings in Golar LNG by 32.0% during the first quarter. Donald Smith & CO. Inc. now owns 3,586,994 shares of the shipping company’s stock valued at $86,303,000 after purchasing an additional 870,233 shares during the period. Healthcare of Ontario Pension Plan Trust Fund lifted its position in shares of Golar LNG by 467.9% in the third quarter. Healthcare of Ontario Pension Plan Trust Fund now owns 2,237,000 shares of the shipping company’s stock worth $82,232,000 after purchasing an additional 1,843,100 shares in the last quarter. State Street Corp lifted its position in shares of Golar LNG by 5.2% in the third quarter. State Street Corp now owns 1,920,590 shares of the shipping company’s stock worth $70,601,000 after purchasing an additional 94,336 shares in the last quarter. American Century Companies Inc. lifted its position in shares of Golar LNG by 53.7% in the second quarter. American Century Companies Inc. now owns 1,732,655 shares of the shipping company’s stock worth $54,319,000 after purchasing an additional 605,499 shares in the last quarter. Finally, Pinnacle Associates Ltd. lifted its position in shares of Golar LNG by 4.4% in the second quarter. Pinnacle Associates Ltd. now owns 1,500,628 shares of the shipping company’s stock worth $47,045,000 after purchasing an additional 63,180 shares in the last quarter. Institutional investors and hedge funds own 92.21% of the company’s stock.

Golar LNG Company Profile

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.