Wall Street Zen Downgrades Golar LNG (NASDAQ:GLNG) to Sell

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

Several other equities analysts have also recently issued reports on the stock. BTIG Research reaffirmed a “buy” rating on shares of Golar LNG in a research note on Wednesday, May 28th. Zacks Research cut shares of Golar LNG from a “hold” rating to a “strong sell” rating in a research note on Thursday, August 14th. Finally, B. Riley reissued a “neutral” rating and issued a $44.50 target price on shares of Golar LNG in a research report on Monday, August 25th. Two equities research analysts have rated the stock with a Strong Buy rating, three have given a Buy rating, one has issued a Hold rating and one has assigned a Sell rating to the company’s stock. Based on data from MarketBeat.com, Golar LNG has an average rating of “Moderate Buy” and an average price target of $49.17.

Golar LNG Trading Down 2.3%

Shares of NASDAQ:GLNG opened at $43.82 on Friday. The company has a market cap of $4.58 billion, a PE ratio of -625.91 and a beta of 0.42. The company’s 50-day moving average price is $41.49 and its 200 day moving average price is $39.51. Golar LNG has a fifty-two week low of $29.56 and a fifty-two week high of $45.98. The company has a quick ratio of 0.85, a current ratio of 1.47 and a debt-to-equity ratio of 0.63.

Golar LNG (NASDAQ:GLNG) last issued its quarterly earnings data on Thursday, August 14th. The shipping company reported $0.26 earnings per share for the quarter, missing the consensus estimate of $0.29 by ($0.03). The firm had revenue of $75.67 million during the quarter, compared to the consensus estimate of $79.37 million. Golar LNG had a negative net margin of 2.83% and a positive return on equity of 6.36%. Sell-side analysts anticipate that Golar LNG will post 1.39 earnings per share for the current year.

Golar LNG Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Tuesday, September 2nd. Investors of record on Tuesday, August 26th will be paid a dividend of $0.25 per share. This represents a $1.00 annualized dividend and a yield of 2.3%. The ex-dividend date is Tuesday, August 26th. Golar LNG’s dividend payout ratio is presently -1,428.57%.

Hedge Funds Weigh In On Golar LNG

Hedge funds have recently made changes to their positions in the business. Allworth Financial LP grew its holdings in shares of Golar LNG by 43.5% in the 2nd quarter. Allworth Financial LP now owns 990 shares of the shipping company’s stock worth $41,000 after purchasing an additional 300 shares during the last quarter. Signaturefd LLC grew its holdings in shares of Golar LNG by 64.6% in the 2nd quarter. Signaturefd LLC now owns 856 shares of the shipping company’s stock worth $35,000 after purchasing an additional 336 shares during the last quarter. Fox Run Management L.L.C. grew its holdings in shares of Golar LNG by 5.4% in the 1st quarter. Fox Run Management L.L.C. now owns 7,115 shares of the shipping company’s stock worth $270,000 after purchasing an additional 362 shares during the last quarter. Xponance Inc. grew its holdings in shares of Golar LNG by 4.8% in the 1st quarter. Xponance Inc. now owns 8,515 shares of the shipping company’s stock worth $323,000 after purchasing an additional 387 shares during the last quarter. Finally, Metis Global Partners LLC grew its holdings in shares of Golar LNG by 6.1% in the 2nd quarter. Metis Global Partners LLC now owns 6,829 shares of the shipping company’s stock worth $281,000 after purchasing an additional 395 shares during the last quarter. Institutional investors and hedge funds own 92.21% of the company’s stock.

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.