Golar LNG (GLNG) Upgraded to “Sell” by BidaskClub
BidaskClub upgraded shares of Golar LNG (NASDAQ:GLNG) from a strong sell rating to a sell rating in a research report sent to investors on Saturday.
A number of other research firms have also commented on GLNG. ValuEngine upgraded shares of Golar LNG from a hold rating to a buy rating in a research report on Thursday, May 31st. Zacks Investment Research lowered shares of Golar LNG from a hold rating to a sell rating in a research report on Wednesday, May 9th. Bank of America lowered shares of Golar LNG from a buy rating to a neutral rating and reduced their price target for the company from $31.00 to $30.00 in a research report on Thursday, July 12th. BTIG Research assumed coverage on shares of Golar LNG in a research report on Wednesday, July 18th. They issued a buy rating and a $35.00 price target on the stock. Finally, Morgan Stanley set a $31.00 price target on shares of Golar LNG and gave the company a buy rating in a research report on Friday, June 1st. One equities research analyst has rated the stock with a sell rating, two have issued a hold rating and eight have given a buy rating to the stock. The company has an average rating of Buy and a consensus price target of $37.14.
Shares of Golar LNG stock opened at $26.52 on Friday. The company has a current ratio of 0.62, a quick ratio of 0.62 and a debt-to-equity ratio of 1.01. Golar LNG has a twelve month low of $19.32 and a twelve month high of $35.54. The stock has a market cap of $2.61 billion, a PE ratio of -18.04 and a beta of 0.52.
The company also recently declared a quarterly dividend, which will be paid on Wednesday, October 3rd. Shareholders of record on Thursday, September 6th will be given a $0.125 dividend. The ex-dividend date of this dividend is Wednesday, September 5th. This is a positive change from Golar LNG’s previous quarterly dividend of $0.05. This represents a $0.50 dividend on an annualized basis and a yield of 1.89%. Golar LNG’s payout ratio is -13.61%.
Several hedge funds and other institutional investors have recently made changes to their positions in GLNG. Raymond James & Associates bought a new position in shares of Golar LNG in the fourth quarter worth about $210,000. Wells Fargo & Company MN raised its stake in shares of Golar LNG by 2.8% in the first quarter. Wells Fargo & Company MN now owns 292,161 shares of the shipping company’s stock worth $7,993,000 after acquiring an additional 8,000 shares during the last quarter. ICM Asset Management Inc. WA raised its stake in shares of Golar LNG by 1,111.0% in the first quarter. ICM Asset Management Inc. WA now owns 103,542 shares of the shipping company’s stock worth $2,833,000 after acquiring an additional 94,992 shares during the last quarter. Wellington Shields Capital Management LLC raised its stake in shares of Golar LNG by 66.7% in the first quarter. Wellington Shields Capital Management LLC now owns 57,500 shares of the shipping company’s stock worth $1,573,000 after acquiring an additional 23,000 shares during the last quarter. Finally, DekaBank Deutsche Girozentrale bought a new position in shares of Golar LNG in the first quarter worth about $2,256,000. 83.31% of the stock is owned by institutional investors.
About Golar LNG
Golar LNG Limited, a midstream liquefied natural gas (LNG) company, engages in the transportation, regasification, and liquefaction of LNG. It operates through three segments: Vessel operations, Floating Liquefaction Natural Gas Vessel (FLNG), and Power. The company engages in the acquisition, ownership, operation, and chartering of LNG carriers and floating storage regasification units (FSRUs); and the development of LNG projects.
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