Several other equities research analysts also recently issued reports on the company. ABN Amro raised Golar LNG from a sell rating to a hold rating in a report on Monday, October 3rd. Jefferies Group reissued a buy rating on shares of Golar LNG in a report on Monday, September 12th. Morgan Stanley began coverage on Golar LNG in a report on Tuesday, September 6th. They set a buy rating and a $30.00 target price for the company. Bank of America Corp. raised Golar LNG from a neutral rating to a buy rating and set a $21.00 target price for the company in a report on Monday, August 1st. Finally, DNB Markets raised Golar LNG from a hold rating to a buy rating in a report on Friday, July 1st. Three research 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. Golar LNG currently has a consensus rating of Buy and a consensus price target of $30.89.
Golar LNG (NASDAQ:GLNG) traded up 2.95% during midday trading on Wednesday, hitting $23.05. 178,359 shares of the stock traded hands. Golar LNG has a 12-month low of $9.42 and a 12-month high of $32.43. The stock’s market capitalization is $2.08 billion. The firm’s 50 day moving average is $21.13 and its 200-day moving average is $18.57.
Golar LNG (NASDAQ:GLNG) last announced its quarterly earnings results on Wednesday, August 31st. The company reported ($0.96) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.47) by $0.49. Golar LNG had a negative net margin of 453.75% and a negative return on equity of 9.31%. On average, analysts anticipate that Golar LNG will post ($2.11) EPS for the current fiscal year.
The firm also recently announced a quarterly dividend, which was paid on Monday, October 3rd. Shareholders of record on Wednesday, September 14th were given a $0.05 dividend. This represents a $0.20 dividend on an annualized basis and a yield of 0.89%. The ex-dividend date was Monday, September 12th.
A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Fifth Third Bancorp boosted its position in Golar LNG by 21.0% in the second quarter. Fifth Third Bancorp now owns 7,500 shares of the company’s stock worth $116,000 after buying an additional 1,300 shares in the last quarter. Loews Corp acquired a new position in Golar LNG during the second quarter worth about $162,000. Fort Washington Investment Advisors Inc OH acquired a new position in Golar LNG during the second quarter worth about $171,000. ProShare Advisors LLC acquired a new position in Golar LNG during the second quarter worth about $173,000. Finally, Pacad Investment Ltd. acquired a new position in Golar LNG during the first quarter worth about $180,000. Hedge funds and other institutional investors own 88.14% of the company’s stock.
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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