ValuEngine lowered shares of Golar LNG Limited (NASDAQ:GLNG) from a hold rating to a sell rating in a report published on Friday morning.

A number of other research firms also recently commented on GLNG. Zacks Investment Research downgraded Golar LNG Limited from a hold rating to a sell rating in a report on Tuesday, May 9th. Citigroup Inc reiterated a buy rating and issued a $28.00 price objective (down previously from $29.00) on shares of Golar LNG Limited in a report on Thursday, June 1st. Stifel Nicolaus reiterated a buy rating and issued a $36.00 price objective on shares of Golar LNG Limited in a report on Wednesday, July 5th. Morgan Stanley reiterated an overweight rating and issued a $32.00 price objective (down previously from $36.00) on shares of Golar LNG Limited in a report on Tuesday, June 13th. Finally, BidaskClub downgraded Golar LNG Limited from a sell rating to a strong sell rating in a report on Saturday, June 10th. Two research analysts have rated the stock with a sell rating, three have assigned a hold rating and nine have issued a buy rating to the company. Golar LNG Limited has an average rating of Buy and a consensus price target of $34.00.

Shares of Golar LNG Limited (NASDAQ GLNG) traded down 1.06% during trading on Friday, hitting $21.45. The stock had a trading volume of 944,081 shares. The company’s 50 day moving average price is $22.07 and its 200 day moving average price is $24.70. Golar LNG Limited has a 12 month low of $19.85 and a 12 month high of $29.18. The stock’s market cap is $2.10 billion.

Golar LNG Limited (NASDAQ:GLNG) last issued its quarterly earnings results on Wednesday, August 30th. The shipping company reported ($0.51) earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of ($0.40) by $0.11. Golar LNG Limited had a negative return on equity of 7.78% and a negative net margin of 179.35%. The company had revenue of $28.41 million for the quarter, compared to analysts’ expectations of $17.03 million. Equities research analysts expect that Golar LNG Limited will post ($1.67) earnings per share for the current fiscal year.

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The company also recently announced a quarterly dividend, which will be paid on Wednesday, October 4th. Investors of record on Thursday, September 14th will be given a $0.05 dividend. The ex-dividend date is Wednesday, September 13th. This represents a $0.20 dividend on an annualized basis and a dividend yield of 0.93%.

Several hedge funds and other institutional investors have recently made changes to their positions in the stock. Dynamic Technology Lab Private Ltd boosted its position in shares of Golar LNG Limited by 72.1% in the 2nd quarter. Dynamic Technology Lab Private Ltd now owns 17,629 shares of the shipping company’s stock valued at $392,000 after purchasing an additional 7,386 shares during the period. Verition Fund Management LLC acquired a new stake in shares of Golar LNG Limited in the 2nd quarter valued at about $639,000. Nomura Holdings Inc. acquired a new stake in shares of Golar LNG Limited in the 2nd quarter valued at about $4,456,000. The Manufacturers Life Insurance Company boosted its position in shares of Golar LNG Limited by 23,320.4% in the 2nd quarter. The Manufacturers Life Insurance Company now owns 71,198 shares of the shipping company’s stock valued at $1,583,000 after purchasing an additional 70,894 shares during the period. Finally, Bluefin Trading LLC acquired a new stake in shares of Golar LNG Limited in the 2nd quarter valued at about $1,660,000. 87.51% of the stock is owned by hedge funds and other institutional investors.

About Golar LNG Limited

Golar LNG Limited is a midstream liquefied natural gas (LNG) company engaged primarily in the transportation, regasification, liquefaction and trading of LNG. The Company is engaged in the acquisition, ownership, operation and chartering of LNG carriers and Floating Storage Regasification Unit (FSRUs) through its subsidiaries and affiliates, and the development of LNG projects, such as floating LNGs (FLNGs).

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Analyst Recommendations for Golar LNG Limited (NASDAQ:GLNG)

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