Golar LNG (NASDAQ:GLNG) Upgraded to Sell at StockNews.com

StockNews.com upgraded shares of Golar LNG (NASDAQ:GLNG) to a sell rating in a research report released on Wednesday.

Several other analysts also recently commented on GLNG. B. Riley raised their price objective on shares of Golar LNG from $35.50 to $44.50 and gave the company a “buy” rating in a research report on Friday, July 19th. Deutsche Bank Aktiengesellschaft raised their price target on Golar LNG from $43.00 to $56.00 and gave the company a “buy” rating in a report on Friday, August 16th. Finally, Stifel Nicolaus dropped their price objective on Golar LNG from $55.00 to $53.00 and set a “buy” rating for the company in a research note on Friday, August 16th. One research analyst has rated the stock with a sell rating and four have assigned a buy rating to the stock. According to MarketBeat.com, Golar LNG has an average rating of “Moderate Buy” and a consensus target price of $49.63.

Golar LNG Trading Down 4.3 %

Shares of Golar LNG stock opened at $34.88 on Wednesday. Golar LNG has a 1-year low of $19.94 and a 1-year high of $39.40. The company’s fifty day simple moving average is $36.13 and its 200-day simple moving average is $32.37. The stock has a market capitalization of $3.65 billion, a PE ratio of 26.03 and a beta of 0.58. The company has a debt-to-equity ratio of 0.31, a current ratio of 1.24 and a quick ratio of 1.28.

Golar LNG (NASDAQ:GLNG) last released its earnings results on Thursday, August 15th. The shipping company reported $0.42 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.44 by ($0.02). Golar LNG had a return on equity of 9.20% and a net margin of 50.89%. The firm had revenue of $62.98 million during the quarter, compared to analysts’ expectations of $67.38 million. As a group, equities analysts anticipate that Golar LNG will post 1.53 earnings per share for the current year.

Golar LNG Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Monday, December 2nd. Shareholders of record on Monday, November 25th will be paid a $0.25 dividend. This represents a $1.00 annualized dividend and a yield of 2.87%. The ex-dividend date of this dividend is Monday, November 25th. Golar LNG’s payout ratio is currently 74.63%.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently modified their holdings of the company. Blue Trust Inc. raised its stake in Golar LNG by 105.1% during the third quarter. Blue Trust Inc. now owns 1,372 shares of the shipping company’s stock valued at $50,000 after purchasing an additional 703 shares in the last quarter. Sound Income Strategies LLC bought a new stake in shares of Golar LNG in the 3rd quarter worth about $52,000. Lowe Wealth Advisors LLC purchased a new stake in shares of Golar LNG during the 2nd quarter valued at about $45,000. CWM LLC lifted its holdings in shares of Golar LNG by 830.9% in the 3rd quarter. CWM LLC now owns 1,657 shares of the shipping company’s stock valued at $61,000 after acquiring an additional 1,479 shares during the last quarter. Finally, EverSource Wealth Advisors LLC lifted its holdings in shares of Golar LNG by 206.2% in the 2nd quarter. EverSource Wealth Advisors LLC now owns 1,727 shares of the shipping company’s stock valued at $54,000 after acquiring an additional 1,163 shares during the last quarter. 92.21% of the stock is currently owned by institutional investors.

About Golar LNG

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.