Golar LNG (NASDAQ:GLNG) Lowered to Hold Rating by DNB Markets

Golar LNG (NASDAQ:GLNG) was downgraded by research analysts at DNB Markets from a “buy” rating to a “hold” rating in a note issued to investors on Wednesday,Briefing.com Automated Import reports.

GLNG has been the subject of a number of other research reports. Stifel Nicolaus lifted their target price on shares of Golar LNG from $53.00 to $55.00 and gave the stock a “buy” rating in a research note on Tuesday, December 24th. Fearnley Fonds downgraded shares of Golar LNG from a “strong-buy” rating to a “hold” rating in a research note on Wednesday, November 13th. Finally, StockNews.com raised shares of Golar LNG to a “sell” rating in a research note on Monday, December 9th. One investment analyst has rated the stock with a sell rating, two have given a hold rating and four have given a buy rating to the company. According to data from MarketBeat.com, the company presently has an average rating of “Hold” and a consensus price target of $50.13.

Golar LNG Stock Performance

GLNG stock opened at $40.81 on Wednesday. The company has a fifty day moving average price of $41.68 and a 200-day moving average price of $37.81. The company has a market capitalization of $4.26 billion, a P/E ratio of 291.52 and a beta of 0.55. Golar LNG has a 52-week low of $19.94 and a 52-week high of $44.36.

Institutional Investors Weigh In On Golar LNG

A number of large investors have recently bought and sold shares of GLNG. Public Employees Retirement System of Ohio acquired a new stake in Golar LNG in the third quarter worth $32,000. Blue Trust Inc. grew its holdings in Golar LNG by 105.1% in the third quarter. Blue Trust Inc. now owns 1,372 shares of the shipping company’s stock worth $50,000 after purchasing an additional 703 shares during the period. CWM LLC grew its holdings in Golar LNG by 830.9% in the third quarter. CWM LLC now owns 1,657 shares of the shipping company’s stock worth $61,000 after purchasing an additional 1,479 shares during the period. USA Financial Formulas acquired a new stake in Golar LNG in the fourth quarter worth $61,000. Finally, Bank Julius Baer & Co. Ltd Zurich acquired a new stake in Golar LNG in the fourth quarter worth $107,000. 92.21% of the stock is currently owned by institutional investors and hedge funds.

About Golar LNG

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.