Golar LNG Limited (NASDAQ:GLNG) was upgraded by Zacks Investment Research from a “sell” rating to a “hold” rating in a report released on Friday.
According to Zacks, “GOLAR LNG LIMITED is engaged in the acquisition, ownership, operation and chartering of liquid natural gas carriers and floating storage re-gasification units through its subsidiaries. “
Several other equities analysts also recently issued reports on GLNG. TheStreet raised shares of Golar LNG Limited from a “d” rating to a “c-” rating in a report on Thursday, March 2nd. Credit Suisse Group AG set a $35.00 price objective on shares of Golar LNG Limited and gave the company a “buy” rating in a report on Saturday, March 18th. Finally, Citigroup Inc reaffirmed a “buy” rating and set a $28.00 price objective (down from $29.00) on shares of Golar LNG Limited in a report on Thursday, June 1st. One investment analyst has rated the stock with a sell rating, three have assigned a hold rating and ten have issued a buy rating to the company’s stock. Golar LNG Limited currently has a consensus rating of “Buy” and a consensus target price of $27.11.
Golar LNG Limited (NASDAQ GLNG) opened at 22.53 on Friday. The company’s 50 day moving average is $26.15 and its 200-day moving average is $26.00. Golar LNG Limited has a 1-year low of $14.32 and a 1-year high of $29.18. The stock’s market cap is $2.21 billion.
Golar LNG Limited (NASDAQ:GLNG) last posted its quarterly earnings data on Wednesday, May 31st. The shipping company reported ($0.41) earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of ($0.38) by $0.03. The company had revenue of $25.11 million for the quarter, compared to analysts’ expectations of $17.62 million. Golar LNG Limited had a negative net margin of 301.27% and a negative return on equity of 7.61%. Equities research analysts forecast that Golar LNG Limited will post ($1.25) earnings per share for the current fiscal year.
The firm also recently declared a quarterly dividend, which will be paid on Wednesday, July 5th. Stockholders of record on Friday, June 16th will be paid a $0.05 dividend. This represents a $0.20 annualized dividend and a dividend yield of 0.89%. The ex-dividend date of this dividend is Wednesday, June 14th.
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Several institutional investors have recently bought and sold shares of the company. Quantbot Technologies LP increased its position in shares of Golar LNG Limited by 18.0% in the first quarter. Quantbot Technologies LP now owns 3,644 shares of the shipping company’s stock worth $101,000 after buying an additional 557 shares during the period. Sei Investments Co. increased its position in shares of Golar LNG Limited by 84.1% in the first quarter. Sei Investments Co. now owns 5,457 shares of the shipping company’s stock worth $152,000 after buying an additional 2,493 shares during the period. FNY Managed Accounts LLC purchased a new position in shares of Golar LNG Limited during the first quarter worth approximately $212,000. UBS Asset Management Americas Inc. purchased a new position in shares of Golar LNG Limited during the fourth quarter worth approximately $214,000. Finally, Strs Ohio increased its position in shares of Golar LNG Limited by 80.0% in the first quarter. Strs Ohio now owns 8,100 shares of the shipping company’s stock worth $226,000 after buying an additional 3,600 shares during the period. 73.19% of the stock is currently owned by hedge funds and other institutional investors.
About Golar LNG Limited
Golar LNG Limited is a midstream liquefied natural gas (LNG) company engaged primarily in the transportation, regasification, liquefaction and trading of LNG. The Company is engaged in the acquisition, ownership, operation and chartering of LNG carriers and Floating Storage Regasification Unit (FSRUs) through its subsidiaries and affiliates, and the development of LNG projects, such as floating LNGs (FLNGs).
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