Golar LNG (NASDAQ:GLNG) Stock Rating Lowered by Fearnley Fonds

Fearnley Fonds lowered shares of Golar LNG (NASDAQ:GLNG) from a strong-buy rating to a hold rating in a report released on Wednesday,Zacks.com reports.

GLNG has been the subject of several other reports. Deutsche Bank Aktiengesellschaft boosted their price objective on shares of Golar LNG from $43.00 to $56.00 and gave the company a “buy” rating in a research report on Friday, August 16th. StockNews.com raised Golar LNG to a “sell” rating in a research note on Wednesday. B. Riley lifted their target price on Golar LNG from $35.50 to $44.50 and gave the company a “buy” rating in a research report on Friday, July 19th. Finally, Stifel Nicolaus dropped their price target on Golar LNG from $55.00 to $53.00 and set a “buy” rating on the stock in a research report on Friday, August 16th. One analyst has rated the stock with a sell rating, one has given a hold rating and four have given a buy rating to the company. Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus price target of $49.63.

Golar LNG Trading Down 2.8 %

Shares of NASDAQ GLNG opened at $34.00 on Wednesday. The business’s 50 day moving average price is $36.19 and its 200-day moving average price is $32.38. Golar LNG has a fifty-two week low of $19.94 and a fifty-two week high of $39.40. The company has a debt-to-equity ratio of 0.31, a quick ratio of 1.28 and a current ratio of 1.24. The company has a market cap of $3.55 billion, a price-to-earnings ratio of 25.37 and a beta of 0.58.

Golar LNG (NASDAQ:GLNG) last issued its earnings results on Thursday, August 15th. The shipping company reported $0.42 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.44 by ($0.02). The company had revenue of $62.98 million for the quarter, compared to analysts’ expectations of $67.38 million. Golar LNG had a net margin of 50.89% and a return on equity of 9.20%. On average, sell-side analysts expect that Golar LNG will post 1.53 earnings per share for the current year.

Golar LNG Dividend Announcement

The business 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 $0.25 dividend. This represents a $1.00 annualized dividend and a dividend yield of 2.94%. The ex-dividend date is Monday, November 25th. Golar LNG’s payout ratio is 74.63%.

Institutional Trading of Golar LNG

Several hedge funds have recently modified their holdings of GLNG. Public Employees Retirement System of Ohio bought a new position in shares of Golar LNG during the 3rd quarter worth approximately $32,000. Lowe Wealth Advisors LLC acquired a new position in shares of Golar LNG during the second quarter worth $45,000. Blue Trust Inc. lifted its holdings in shares of Golar LNG by 105.1% during the 3rd quarter. Blue Trust Inc. now owns 1,372 shares of the shipping company’s stock valued at $50,000 after purchasing an additional 703 shares during the last quarter. Sound Income Strategies LLC acquired a new stake in shares of Golar LNG in the 3rd quarter worth $52,000. Finally, EverSource Wealth Advisors LLC grew its stake in Golar LNG by 206.2% during the 2nd quarter. EverSource Wealth Advisors LLC now owns 1,727 shares of the shipping company’s stock worth $54,000 after buying an additional 1,163 shares during the last quarter. 92.21% of the stock is owned by hedge funds and other institutional investors.

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.