Golar LNG Ltd. (GLNG) Given “Buy” Rating at Seaport Global Securities
Seaport Global Securities restated their buy rating on shares of Golar LNG Ltd. (NASDAQ:GLNG) in a research note released on Wednesday morning. The firm currently has a $35.00 price objective on the stock.
Other equities analysts have also recently issued reports about the company. Morgan Stanley assumed coverage on Golar LNG in a report on Tuesday, September 6th. They set a buy rating and a $30.00 price objective for the company. Jefferies Group reaffirmed a buy rating on shares of Golar LNG in a report on Monday, August 1st. ABN Amro raised Golar LNG from a sell rating to a hold rating in a report on Monday, October 3rd. Wells Fargo & Co. reaffirmed a buy rating on shares of Golar LNG in a report on Wednesday, October 5th. Finally, Cowen and Company reduced their price objective on Golar LNG from $57.00 to $45.00 and set an outperform rating for the company in a report on Thursday, October 20th. Three investment analysts have rated the stock with a sell rating, two have assigned a hold rating and twelve have assigned a buy rating to the company. The stock currently has an average rating of Buy and a consensus target price of $27.78.
Golar LNG (NASDAQ:GLNG) remained flat at $25.52 during trading on Wednesday. The company’s stock had a trading volume of 1,088,213 shares. The stock’s 50 day moving average price is $23.18 and its 200-day moving average price is $19.58. The company’s market cap is $2.30 billion. Golar LNG has a 12-month low of $9.42 and a 12-month high of $28.63.
Several large investors have recently modified their holdings of the company. FMR LLC increased its position in shares of Golar LNG by 0.3% in the second quarter. FMR LLC now owns 9,354,666 shares of the company’s stock worth $144,997,000 after buying an additional 26,690 shares in the last quarter. BlackRock Fund Advisors increased its position in shares of Golar LNG by 8.3% in the third quarter. BlackRock Fund Advisors now owns 2,243,766 shares of the company’s stock worth $47,568,000 after buying an additional 172,388 shares in the last quarter. Steinberg Asset Management LLC increased its position in shares of Golar LNG by 0.5% in the second quarter. Steinberg Asset Management LLC now owns 2,149,600 shares of the company’s stock worth $33,319,000 after buying an additional 10,327 shares in the last quarter. Bank of Montreal Can acquired a new position in shares of Golar LNG during the second quarter worth approximately $22,945,000. Finally, Cannell Peter B & Co. Inc. increased its position in shares of Golar LNG by 88.3% in the second quarter. Cannell Peter B & Co. Inc. now owns 1,383,075 shares of the company’s stock worth $21,438,000 after buying an additional 648,675 shares in the last quarter. 88.10% of the stock is owned by institutional investors.
About Golar LNG
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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