Golar LNG (NASDAQ:GLNG) Rating Increased to Hold at Wall Street Zen

Wall Street Zen upgraded shares of Golar LNG (NASDAQ:GLNG) from a sell rating to a hold rating in a research report report published on Saturday morning.

A number of other research analysts also recently issued reports on the company. Weiss Ratings restated a “hold (c+)” rating on shares of Golar LNG in a report on Monday, December 29th. BTIG Research reissued a “buy” rating and set a $50.00 target price on shares of Golar LNG in a research note on Wednesday, November 5th. Zacks Research upgraded Golar LNG from a “strong sell” rating to a “hold” rating in a report on Monday, January 5th. Finally, The Goldman Sachs Group set a $56.00 price objective on shares of Golar LNG in a research report on Monday, February 2nd. Three 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 company’s stock. According to MarketBeat.com, Golar LNG has a consensus rating of “Buy” and a consensus target price of $49.90.

Golar LNG Trading Down 0.4%

NASDAQ:GLNG opened at $43.44 on Friday. The firm has a market capitalization of $4.54 billion, a P/E ratio of 76.21 and a beta of 0.20. The company has a quick ratio of 1.32, a current ratio of 1.32 and a debt-to-equity ratio of 0.61. The company has a fifty day moving average of $39.29 and a 200 day moving average of $39.76. Golar LNG has a 52 week low of $29.56 and a 52 week high of $45.98.

Hedge Funds Weigh In On Golar LNG

Institutional investors and hedge funds have recently added to or reduced their stakes in the company. Caitong International Asset Management Co. Ltd grew its position in shares of Golar LNG by 278.2% in the 3rd quarter. Caitong International Asset Management Co. Ltd now owns 658 shares of the shipping company’s stock worth $27,000 after buying an additional 484 shares during the period. Smartleaf Asset Management LLC grew its holdings in Golar LNG by 281.9% in the third quarter. Smartleaf Asset Management LLC now owns 909 shares of the shipping company’s stock worth $37,000 after purchasing an additional 671 shares during the period. Allworth Financial LP increased its stake in shares of Golar LNG by 43.5% during the second quarter. Allworth Financial LP now owns 990 shares of the shipping company’s stock valued at $41,000 after purchasing an additional 300 shares in the last quarter. Crossingbridge Advisors LLC purchased a new position in shares of Golar LNG during the second quarter valued at approximately $41,000. Finally, Zions Bancorporation National Association UT bought a new stake in shares of Golar LNG in the 4th quarter worth approximately $44,000. Hedge funds and other institutional investors own 92.21% of the company’s stock.

About Golar LNG

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.