Golar LNG (NASDAQ:GLNG) Stock Rating Upgraded by Wall Street Zen

Golar LNG (NASDAQ:GLNG) was upgraded by Wall Street Zen from a “sell” rating to a “hold” rating in a report released on Saturday.

A number of other research analysts also recently issued reports on the company. Zacks Research raised Golar LNG from a “strong sell” rating to a “hold” rating in a research note on Monday, January 5th. The Goldman Sachs Group set a $56.00 price target on Golar LNG in a research note on Monday, February 2nd. BTIG Research restated a “buy” rating and set a $50.00 price target on shares of Golar LNG in a report on Wednesday, November 5th. Finally, Weiss Ratings reaffirmed a “hold (c+)” rating on shares of Golar LNG in a research report on Monday, December 29th. Three equities research analysts have rated the stock with a Strong Buy rating, three have issued a Buy rating and three have issued a Hold rating to the company’s stock. According to data from MarketBeat, the stock has an average rating of “Buy” and an average price target of $49.90.

Golar LNG Price Performance

GLNG stock opened at $43.44 on Friday. The company has a quick ratio of 1.32, a current ratio of 1.32 and a debt-to-equity ratio of 0.61. The firm has a market cap of $4.54 billion, a price-to-earnings ratio of 76.21 and a beta of 0.20. The company’s fifty day simple moving average is $39.29 and its 200 day simple moving average is $39.75. Golar LNG has a 12-month low of $29.56 and a 12-month high of $45.98.

Hedge Funds Weigh In On Golar LNG

Several institutional investors have recently bought and sold shares of GLNG. Rubric Capital Management LP raised its stake in shares of Golar LNG by 2.3% in the second quarter. Rubric Capital Management LP now owns 9,178,978 shares of the shipping company’s stock valued at $378,082,000 after buying an additional 203,829 shares during the period. Morgan Stanley lifted its holdings in Golar LNG by 14.0% during the fourth quarter. Morgan Stanley now owns 2,110,671 shares of the shipping company’s stock valued at $78,538,000 after purchasing an additional 259,915 shares during the last quarter. Cartenna Capital LP boosted its position in Golar LNG by 13.2% during the third quarter. Cartenna Capital LP now owns 1,925,000 shares of the shipping company’s stock worth $77,789,000 after purchasing an additional 225,000 shares during the period. State Street Corp increased its stake in shares of Golar LNG by 1.4% in the second quarter. State Street Corp now owns 1,914,741 shares of the shipping company’s stock worth $78,868,000 after purchasing an additional 26,838 shares in the last quarter. Finally, Appian Way Asset Management LP increased its stake in shares of Golar LNG by 34.8% in the third quarter. Appian Way Asset Management LP now owns 1,633,582 shares of the shipping company’s stock worth $66,013,000 after purchasing an additional 421,375 shares in the last quarter. Hedge funds and other institutional investors own 92.21% of the company’s stock.

Golar LNG Company Profile

Golar LNG Ltd. is a leading owner and operator of liquefied natural gas (LNG) carriers and floating infrastructure. The company specializes in the transportation of LNG on long-term and spot charters for major energy firms around the world. In addition to shipping, Golar LNG has broadened its services to include project development and the conversion of existing carriers into Floating Liquefied Natural Gas (FLNG) and Floating Storage and Regasification Unit (FSRU) vessels.

Since pioneering the first purpose-built FLNG conversion project, Golar LNG has been at the forefront of offshore gas monetization.