GasLog LP. (GLOG) Raised to “Buy” at Zacks Investment Research
According to Zacks, “GasLog Ltd. is an owner, operator and manager of liquefied natural gas carriers. The Company operates in two segments: vessel ownership and vessel management. The vessel ownership segment consists of chartering out company-owned LNG carriers and the vessel management segment consists of providing LNG carrier technical management services, LNG carrier construction supervision services and other vessel management services. GasLog Ltd. is based in Monaco. “
Several other analysts also recently issued reports on GLOG. Jefferies Group reissued a buy rating on shares of GasLog LP. in a research note on Monday, September 12th. Seaport Global Securities initiated coverage on shares of GasLog LP. in a research note on Wednesday, November 23rd. They set a neutral rating and a $18.00 target price on the stock. One investment analyst has rated the stock with a sell rating, four have assigned a hold rating and four have given a buy rating to the stock. The company presently has a consensus rating of Hold and a consensus price target of $15.50.
Shares of GasLog LP. (NYSE:GLOG) traded up 0.58% on Tuesday, hitting $17.30. The company’s stock had a trading volume of 122,838 shares. The stock’s market capitalization is $1.39 billion. GasLog LP. has a 52 week low of $5.24 and a 52 week high of $17.60. The stock’s 50 day moving average price is $16.12 and its 200 day moving average price is $14.81.
GasLog LP. (NYSE:GLOG) last announced its earnings results on Thursday, November 3rd. The company reported $0.05 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.03 by $0.02. GasLog LP. had a negative net margin of 10.57% and a negative return on equity of 0.14%. The company had revenue of $120.72 million for the quarter, compared to the consensus estimate of $120.73 million. During the same period in the previous year, the business earned ($0.05) EPS. The company’s revenue was up 14.1% on a year-over-year basis. On average, analysts forecast that GasLog LP. will post $0.02 earnings per share for the current fiscal year.
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Institutional investors have recently bought and sold shares of the company. The Manufacturers Life Insurance Company acquired a new position in GasLog LP. during the third quarter valued at approximately $386,000. UBS Group AG increased its position in GasLog LP. by 2.5% in the third quarter. UBS Group AG now owns 187,928 shares of the company’s stock valued at $2,734,000 after buying an additional 4,624 shares during the last quarter. HighTower Advisors LLC acquired a new position in GasLog LP. during the third quarter valued at approximately $538,000. Eagle Global Advisors LLC increased its position in GasLog LP. by 11.8% in the third quarter. Eagle Global Advisors LLC now owns 3,390,596 shares of the company’s stock valued at $49,333,000 after buying an additional 358,327 shares during the last quarter. Finally, Morgan Stanley increased its position in GasLog LP. by 14.1% in the third quarter. Morgan Stanley now owns 284,864 shares of the company’s stock valued at $4,145,000 after buying an additional 35,152 shares during the last quarter. 46.63% of the stock is currently owned by hedge funds and other institutional investors.
GasLog LP. Company Profile
GasLog Ltd. is an international owner, operator and manager of liquefied natural gas (LNG) carriers. The Company provides support to international energy companies as part of their LNG logistics chain. The Company’s owned fleet includes approximately 20 LNG carriers, including 10 ships in operation and five LNG carriers on order.
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