Golar LNG (NASDAQ:GLNG) Upgraded at Wall Street Zen

Wall Street Zen upgraded shares of Golar LNG (NASDAQ:GLNG) from a sell rating to a hold rating in a research note published on Saturday morning.

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

Golar LNG Price Performance

NASDAQ:GLNG opened at $43.44 on Friday. The business’s 50-day moving average is $39.39 and its 200 day moving average is $39.76. Golar LNG has a 12 month low of $29.56 and a 12 month high of $45.98. The company has a market capitalization of $4.54 billion, a P/E ratio of 76.21 and a beta of 0.20. The company has a current ratio of 1.32, a quick ratio of 1.32 and a debt-to-equity ratio of 0.61.

Institutional Trading of Golar LNG

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

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.