Golar LNG Limited (NASDAQ:GLNG) Receives Average Rating of “Buy” from Analysts

Golar LNG Limited (NASDAQ:GLNG) has received a consensus rating of “Buy” from the nine ratings firms that are covering the company, Marketbeat reports. Three equities research analysts have rated the stock with a hold recommendation, three have assigned a buy recommendation and three have assigned a strong buy recommendation to the company. The average twelve-month price objective among brokers that have updated their coverage on the stock in the last year is $49.90.

GLNG has been the topic of several research reports. BTIG Research restated a “buy” rating and issued a $50.00 target price on shares of Golar LNG in a research report on Wednesday, November 5th. Zacks Research upgraded Golar LNG from a “strong sell” rating to a “hold” rating in a report on Monday, January 5th. Wall Street Zen raised shares of Golar LNG from a “sell” rating to a “hold” rating in a report on Saturday. The Goldman Sachs Group set a $56.00 price target on shares of Golar LNG in a research note on Monday, February 2nd. Finally, Weiss Ratings restated a “hold (c+)” rating on shares of Golar LNG in a research report on Monday, December 29th.

Hedge Funds Weigh In On Golar LNG

A number of institutional investors and hedge funds have recently added to or reduced their stakes in GLNG. Tejara Capital Ltd boosted its position in shares of Golar LNG by 44.0% during the third quarter. Tejara Capital Ltd now owns 196,526 shares of the shipping company’s stock worth $7,942,000 after buying an additional 60,093 shares during the period. Permanent Capital Management LP acquired a new position in Golar LNG during the 3rd quarter worth about $2,114,000. ARS Investment Partners LLC grew its position in Golar LNG by 14.7% in the 3rd quarter. ARS Investment Partners LLC now owns 296,059 shares of the shipping company’s stock valued at $11,964,000 after acquiring an additional 38,040 shares in the last quarter. Levin Capital Strategies L.P. grew its position in Golar LNG by 8.0% in the 2nd quarter. Levin Capital Strategies L.P. now owns 496,819 shares of the shipping company’s stock valued at $20,464,000 after acquiring an additional 36,770 shares in the last quarter. Finally, CenterBook Partners LP increased its stake in Golar LNG by 250.5% during the second quarter. CenterBook Partners LP now owns 169,517 shares of the shipping company’s stock worth $6,982,000 after purchasing an additional 121,154 shares during the period. Institutional investors and hedge funds own 92.21% of the company’s stock.

Golar LNG Stock Performance

GLNG opened at $43.44 on Friday. The firm’s fifty day simple moving average is $39.29 and its two-hundred day simple moving average is $39.76. Golar LNG has a 52-week low of $29.56 and a 52-week high of $45.98. The company has a market cap of $4.54 billion, a price-to-earnings ratio of 76.21 and a beta of 0.20. The company has a quick ratio of 1.32, a current ratio of 1.32 and a debt-to-equity ratio of 0.61.

About Golar LNG

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.