GasLog LP (GLOG) Downgraded by Zacks Investment Research to Sell
According to Zacks, “GasLog Ltd. is an owner, operator and manager of liquefied natural gas carriers. The Company operates in two segments: vessel ownership and vessel management. The vessel ownership segment consists of chartering out company-owned LNG carriers and the vessel management segment consists of providing LNG carrier technical management services, LNG carrier construction supervision services and other vessel management services. GasLog Ltd. is based in Monaco. “
A number of other brokerages also recently weighed in on GLOG. Jefferies Group reiterated a buy rating on shares of GasLog in a report on Monday, August 22nd. Citigroup Inc. lifted their price target on GasLog from $13.00 to $15.00 and gave the company a neutral rating in a report on Friday, August 5th. Two equities research analysts have rated the stock with a sell rating, four have given a hold rating and three have assigned a buy rating to the company’s stock. GasLog presently has an average rating of Hold and a consensus target price of $14.50.
GasLog (NYSE:GLOG) opened at 16.31 on Tuesday. The firm’s market cap is $1.31 billion. GasLog has a one year low of $5.24 and a one year high of $16.42. The company’s 50-day moving average price is $13.85 and its 200-day moving average price is $12.86.
GasLog (NYSE:GLOG) last issued its quarterly earnings results on Thursday, August 4th. The company reported ($0.01) earnings per share for the quarter, beating analysts’ consensus estimates of ($0.06) by $0.05. GasLog had a negative return on equity of 0.70% and a negative net margin of 5.90%. The business had revenue of $114.50 million for the quarter, compared to the consensus estimate of $111.04 million. The company’s quarterly revenue was up 9.7% compared to the same quarter last year. On average, analysts anticipate that GasLog will post $0.01 EPS for the current year.
Several hedge funds have recently made changes to their positions in the company. Janney Montgomery Scott LLC bought a new stake in shares of GasLog during the second quarter worth $228,000. Strs Ohio bought a new stake in shares of GasLog during the second quarter worth $237,000. Meeder Asset Management Inc. bought a new stake in shares of GasLog during the first quarter worth $193,000. IFP Advisors Inc boosted its stake in shares of GasLog by 154.4% in the first quarter. IFP Advisors Inc now owns 11,535 shares of the company’s stock worth $112,000 after buying an additional 7,000 shares in the last quarter. Finally, Geode Capital Management LLC boosted its stake in shares of GasLog by 6.5% in the first quarter. Geode Capital Management LLC now owns 42,559 shares of the company’s stock worth $414,000 after buying an additional 2,605 shares in the last quarter. 47.66% of the stock is owned by institutional investors.
GasLog Ltd. (GasLog) is a holding company. The Company and its subsidiaries are primarily engaged in the ownership, operation and management of vessels in the liquefied natural gas (LNG) market. The Company is provides maritime services for the transportation of LNG on worldwide basis and LNG vessel management services.
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