Golar LNG (NASDAQ:GLNG) Downgraded by DNB Markets to “Hold”

DNB Markets downgraded shares of Golar LNG (NASDAQ:GLNG) from a buy rating to a hold rating in a research report released on Wednesday morning, Marketbeat.com reports.

Several other equities analysts also recently weighed in on GLNG. StockNews.com upgraded Golar LNG to a “sell” rating in a research report on Monday, December 9th. Stifel Nicolaus increased their target price on Golar LNG from $53.00 to $55.00 and gave the stock a “buy” rating in a research report on Tuesday, December 24th. Finally, Fearnley Fonds downgraded Golar LNG from a “strong-buy” rating to a “hold” rating in a research report on Wednesday, November 13th. One research analyst has rated the stock with a sell rating, two have assigned a hold rating and four have issued a buy rating to the stock. Based on data from MarketBeat.com, the stock has an average rating of “Hold” and a consensus price target of $50.13.

Golar LNG Stock Down 0.1 %

Shares of NASDAQ:GLNG opened at $40.78 on Wednesday. The stock’s fifty day simple moving average is $41.58 and its 200-day simple moving average is $37.89. Golar LNG has a 52-week low of $19.94 and a 52-week high of $44.36. The company has a market capitalization of $4.26 billion, a P/E ratio of 291.31 and a beta of 0.55.

Hedge Funds Weigh In On Golar LNG

A number of large investors have recently modified their holdings of GLNG. Naria Inc. purchased a new position in shares of Golar LNG in the 4th quarter worth about $435,226,000. Healthcare of Ontario Pension Plan Trust Fund raised its holdings in shares of Golar LNG by 467.9% in the 3rd quarter. Healthcare of Ontario Pension Plan Trust Fund now owns 2,237,000 shares of the shipping company’s stock worth $82,232,000 after purchasing an additional 1,843,100 shares during the period. Millennium Management LLC raised its holdings in shares of Golar LNG by 49.2% in the 4th quarter. Millennium Management LLC now owns 4,638,045 shares of the shipping company’s stock worth $196,282,000 after purchasing an additional 1,529,884 shares during the period. Encompass Capital Advisors LLC purchased a new position in shares of Golar LNG in the 4th quarter worth about $55,413,000. Finally, Clearline Capital LP purchased a new position in shares of Golar LNG in the 3rd quarter worth about $36,865,000. 92.21% of the stock is currently owned by hedge funds and other institutional investors.

Golar LNG Company Profile

Golar LNG Limited designs, converts, owns, and operates marine infrastructure for the liquefaction of natural gas. The company operates through three segments: FLNG, Corporate and Other, and Shipping. It engages in the regasification, storage, and offloading of liquefied natural gas (LNG); operation of floating liquefaction natural gas (FLNG) vessels or projects; transportation of LNG carriers; and vessel management activities.