Golar LNG Ltd. (GLNG) Upgraded to “Hold” at ABN Amro
A number of other equities analysts have also recently commented on the stock. Zacks Investment Research cut shares of Golar LNG from a hold rating to a sell rating in a research note on Wednesday, June 22nd. Jefferies Group reissued a buy rating on shares of Golar LNG in a research note on Monday, August 1st. Morgan Stanley started coverage on shares of Golar LNG in a research note on Tuesday, September 6th. They issued a buy rating and a $30.00 price target for the company. Clarkson Capital reissued a buy rating on shares of Golar LNG in a research note on Friday, June 17th. Finally, DNB Markets raised shares of Golar LNG from a hold rating to a buy rating in a research note on Friday, July 1st. Three research analysts have rated the stock with a sell rating, two have issued a hold rating and twelve have given a buy rating to the company. The company has a consensus rating of Buy and a consensus price target of $30.89.
Shares of Golar LNG (NASDAQ:GLNG) traded down 0.61% during trading on Monday, reaching $21.25. 53,083 shares of the company were exchanged. The stock has a 50-day moving average price of $20.91 and a 200-day moving average price of $18.49. The stock’s market capitalization is $1.91 billion. Golar LNG has a one year low of $9.42 and a one year high of $34.69.
Golar LNG (NASDAQ:GLNG) last issued its quarterly earnings data on Wednesday, August 31st. The company reported ($0.96) EPS for the quarter, missing the consensus estimate of ($0.47) by $0.49. Golar LNG had a negative net margin of 453.75% and a negative return on equity of 9.31%. Analysts forecast that Golar LNG will post ($2.02) EPS for the current year.
The business also recently disclosed a quarterly dividend, which was paid on Monday, October 3rd. Shareholders of record on Wednesday, September 14th were issued a $0.05 dividend. The ex-dividend date was Monday, September 12th. This represents a $0.20 annualized dividend and a yield of 0.94%.
A number of hedge funds and other institutional investors have recently modified their holdings of the company. Commonwealth Equity Services Inc raised its position in shares of Golar LNG by 4.9% in the first quarter. Commonwealth Equity Services Inc now owns 28,124 shares of the company’s stock valued at $505,000 after buying an additional 1,304 shares during the period. Aperio Group LLC acquired a new stake in Golar LNG during the first quarter worth $547,000. Pacad Investment Ltd. acquired a new stake in Golar LNG during the first quarter worth $180,000. TIAA CREF Investment Management LLC increased its stake in Golar LNG by 109.8% in the first quarter. TIAA CREF Investment Management LLC now owns 449,542 shares of the company’s stock worth $8,078,000 after buying an additional 235,259 shares in the last quarter. Finally, Teachers Advisors Inc. increased its stake in Golar LNG by 31.7% in the first quarter. Teachers Advisors Inc. now owns 102,766 shares of the company’s stock worth $1,847,000 after buying an additional 24,710 shares in the last quarter. Institutional investors and hedge funds own 88.14% of the company’s stock.
Golar LNG Company Profile
Golar LNG Limited (Golar) is the owner and operator of liquefied natural gas (LNG) carriers and floating storage regasification units (FSRUs). As of March 31, 2010, Golar had a fleet of 13 vessels, 10 LNG carriers, three FSRUs and a 50% interest in a further LNG carrier. On June 22, 2009, the Company formed a wholly owned subsidiary, Golar LNG Energy Limited (Golar Energy).
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