Golar LNG (NASDAQ:GLNG) Shares Gap Down to $25.39

Golar LNG Limited (NASDAQ:GLNGGet Rating) shares gapped down prior to trading on Friday . The stock had previously closed at $25.39, but opened at $23.98. Golar LNG shares last traded at $22.99, with a volume of 24,074 shares trading hands.

Analysts Set New Price Targets

A number of equities analysts recently issued reports on the stock. B. Riley boosted their target price on shares of Golar LNG from $33.50 to $35.50 and gave the stock a “buy” rating in a research report on Tuesday, September 6th. StockNews.com upgraded shares of Golar LNG from a “sell” rating to a “hold” rating in a research report on Tuesday, June 7th. Finally, Clarkson Capital reaffirmed a “buy” rating on shares of Golar LNG in a research report on Tuesday, June 14th. Two equities research analysts have rated the stock with a hold rating and four have issued a buy rating to the stock. According to data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $26.75.

Golar LNG Price Performance

The stock has a market cap of $2.52 billion, a P/E ratio of 5.05 and a beta of 0.61. The company has a current ratio of 2.51, a quick ratio of 2.51 and a debt-to-equity ratio of 0.38. The company’s fifty day simple moving average is $25.69 and its 200-day simple moving average is $23.97.

Institutional Trading of Golar LNG

Institutional investors and hedge funds have recently added to or reduced their stakes in the business. Goldman Sachs Group Inc. lifted its stake in Golar LNG by 324.9% during the second quarter. Goldman Sachs Group Inc. now owns 2,582,678 shares of the shipping company’s stock worth $58,756,000 after purchasing an additional 1,974,914 shares during the period. Permian Investment Partners LP acquired a new stake in Golar LNG in the 1st quarter valued at $30,655,000. Rubric Capital Management LP grew its position in Golar LNG by 19.9% in the fourth quarter. Rubric Capital Management LP now owns 6,800,187 shares of the shipping company’s stock valued at $84,254,000 after acquiring an additional 1,129,318 shares during the period. Renaissance Technologies LLC raised its stake in Golar LNG by 665.7% during the second quarter. Renaissance Technologies LLC now owns 1,295,492 shares of the shipping company’s stock worth $29,472,000 after acquiring an additional 1,126,292 shares in the last quarter. Finally, Lonestar Capital Management LLC bought a new position in shares of Golar LNG during the fourth quarter valued at $11,151,000. Institutional investors own 70.93% of the company’s stock.

Golar LNG Company Profile

(Get Rating)

Golar LNG Limited designs, builds, owns, and operates marine infrastructure for the liquefaction and regasification of LNG. It operates through Shipping and FLNG segments. The company engages in the operation and chartering of LNG carriers, Floating Liquefaction Natural Gas Vessel (FLNG), and floating storage regasification units (FSRUs), as well as operates external vessels.

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