Golar LNG Limited (NASDAQ:GLNG) was downgraded by analysts at ValuEngine from a “hold” rating to a “sell” rating in a report issued on Friday.

GLNG has been the subject of several other research reports. Zacks Investment Research cut Golar LNG Limited from a “hold” rating to a “sell” rating in a report on Tuesday, May 9th. Citigroup Inc. reaffirmed a “buy” rating and issued a $28.00 price target (down previously from $29.00) on shares of Golar LNG Limited in a report on Thursday, June 1st. Stifel Nicolaus reaffirmed a “buy” rating and issued a $36.00 price target on shares of Golar LNG Limited in a report on Wednesday, July 5th. Morgan Stanley reaffirmed an “overweight” rating and issued a $32.00 price target (down previously from $36.00) on shares of Golar LNG Limited in a report on Tuesday, June 13th. Finally, BidaskClub cut Golar LNG Limited from a “sell” rating to a “strong sell” rating in a report on Saturday, June 10th. Two research analysts have rated the stock with a sell rating, three have issued a hold rating and nine have given a buy rating to the company’s stock. Golar LNG Limited presently has an average rating of “Buy” and an average price target of $34.00.

Golar LNG Limited (GLNG) traded down 1.06% during mid-day trading on Friday, reaching $21.45. The company’s stock had a trading volume of 944,081 shares. Golar LNG Limited has a 12-month low of $18.63 and a 12-month high of $29.18. The company’s market cap is $2.10 billion. The firm’s 50 day moving average is $22.07 and its 200-day moving average is $24.70.

Golar LNG Limited (NASDAQ:GLNG) last announced its earnings results on Wednesday, August 30th. The shipping company reported ($0.51) EPS for the quarter, missing analysts’ consensus estimates of ($0.40) by $0.11. Golar LNG Limited had a negative net margin of 179.35% and a negative return on equity of 7.76%. The firm had revenue of $28.41 million for the quarter, compared to analyst estimates of $17.03 million. Equities analysts anticipate that Golar LNG Limited will post ($1.60) earnings per share for the current fiscal year.

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A number of large investors have recently bought and sold shares of the company. Comerica Bank boosted its stake in Golar LNG Limited by 1.1% in the first quarter. Comerica Bank now owns 9,250 shares of the shipping company’s stock valued at $239,000 after buying an additional 105 shares during the period. Legal & General Group Plc boosted its stake in Golar LNG Limited by 2.1% in the first quarter. Legal & General Group Plc now owns 88,452 shares of the shipping company’s stock valued at $2,471,000 after buying an additional 1,859 shares during the period. Bank of America Corp DE boosted its stake in Golar LNG Limited by 38.9% in the first quarter. Bank of America Corp DE now owns 843,820 shares of the shipping company’s stock valued at $23,568,000 after buying an additional 236,435 shares during the period. Capital Management Associates NY acquired a new stake in Golar LNG Limited during the second quarter valued at about $211,000. Finally, Kennedy Capital Management Inc. acquired a new stake in Golar LNG Limited during the first quarter valued at about $6,911,000. 87.51% of the stock is owned by institutional investors.

About Golar LNG Limited

Golar LNG Limited is a midstream liquefied natural gas (LNG) company engaged primarily in the transportation, regasification, liquefaction and trading of LNG. The Company is engaged in the acquisition, ownership, operation and chartering of LNG carriers and Floating Storage Regasification Unit (FSRUs) through its subsidiaries and affiliates, and the development of LNG projects, such as floating LNGs (FLNGs).

Analyst Recommendations for Golar LNG Limited (NASDAQ:GLNG)

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