Weiss Ratings Reiterates Hold (C-) Rating for Golar LNG (NASDAQ:GLNG)

Golar LNG (NASDAQ:GLNG)‘s stock had its “hold (c-)” rating restated by investment analysts at Weiss Ratings in a research report issued to clients and investors on Wednesday,Weiss Ratings reports.

Other equities analysts have also issued research reports about the company. The Goldman Sachs Group began coverage on Golar LNG in a report on Monday, September 29th. They set a “buy” rating and a $54.00 price objective on the stock. Zacks Research raised Golar LNG from a “strong sell” rating to a “hold” rating in a report on Friday, September 12th. Wall Street Zen raised Golar LNG from a “sell” rating to a “hold” rating in a report on Sunday, September 7th. Finally, B. Riley reaffirmed a “neutral” rating and set a $44.50 price objective on shares of Golar LNG in a report on Monday, August 25th. Three research analysts have rated the stock with a Strong Buy rating, three have given a Buy rating and three have given a Hold rating to the company. According to data from MarketBeat, Golar LNG currently has an average rating of “Buy” and a consensus price target of $50.38.

Golar LNG Stock Down 1.0%

Golar LNG stock opened at $38.21 on Wednesday. Golar LNG has a twelve month low of $29.56 and a twelve month high of $45.98. The stock’s fifty day simple moving average is $41.33 and its 200-day simple moving average is $40.22. The company has a current ratio of 1.47, a quick ratio of 0.85 and a debt-to-equity ratio of 0.63. The firm has a market capitalization of $3.99 billion, a P/E ratio of -545.78 and a beta of 0.22.

Golar LNG (NASDAQ:GLNG) last posted its earnings results on Thursday, August 14th. The shipping company reported $0.26 EPS for the quarter, missing the consensus estimate of $0.29 by ($0.03). The business had revenue of $75.67 million during the quarter, compared to analysts’ expectations of $79.37 million. Golar LNG had a negative net margin of 2.83% and a positive return on equity of 6.36%. As a group, equities analysts expect that Golar LNG will post 1.39 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

A number of hedge funds have recently modified their holdings of the business. Osaic Holdings Inc. increased its stake in shares of Golar LNG by 230.1% during the 2nd quarter. Osaic Holdings Inc. now owns 18,434 shares of the shipping company’s stock worth $759,000 after purchasing an additional 12,850 shares in the last quarter. Advisory Services Network LLC grew its stake in Golar LNG by 4.8% in the 2nd quarter. Advisory Services Network LLC now owns 37,526 shares of the shipping company’s stock worth $1,545,000 after acquiring an additional 1,730 shares during the period. State of Wyoming purchased a new stake in Golar LNG in the 2nd quarter worth approximately $147,000. Tower Research Capital LLC TRC grew its stake in Golar LNG by 456.4% in the 2nd quarter. Tower Research Capital LLC TRC now owns 14,627 shares of the shipping company’s stock worth $602,000 after acquiring an additional 11,998 shares during the period. Finally, Sourcerock Group LLC grew its stake in Golar LNG by 78.0% in the 2nd quarter. Sourcerock Group LLC now owns 178,149 shares of the shipping company’s stock worth $7,338,000 after acquiring an additional 78,055 shares during the period. 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.