Golar LNG (GLNG) Earns Buy Rating from Analysts at Jefferies Group

Jefferies Group began coverage on shares of Golar LNG (NASDAQ:GLNG) in a research note issued to investors on Monday, December 18th. The firm issued a buy rating and a $39.00 target price on the shipping company’s stock.

GLNG has been the topic of several other reports. Cowen lifted their target price on Golar LNG from $41.00 to $44.00 and gave the stock an outperform rating in a report on Tuesday, December 12th. Morgan Stanley restated an overweight rating and issued a $31.00 price target (down from $32.00) on shares of Golar LNG in a report on Friday, September 1st. Zacks Investment Research upgraded Golar LNG from a sell rating to a hold rating in a report on Wednesday, November 29th. ABN Amro upgraded Golar LNG from a hold rating to a buy rating in a report on Monday, October 30th. Finally, BidaskClub upgraded Golar LNG from a buy rating to a strong-buy rating in a report on Friday, December 15th. One investment analyst has rated the stock with a sell rating, two have given a hold rating and eight have given a buy rating to the company’s stock. The company currently has a consensus rating of Buy and a consensus target price of $35.17.

Golar LNG (NASDAQ GLNG) traded up $0.36 during mid-day trading on Monday, reaching $29.73. The company’s stock had a trading volume of 682,792 shares, compared to its average volume of 1,570,000. The company has a current ratio of 0.41, a quick ratio of 0.41 and a debt-to-equity ratio of 0.77. The company has a market capitalization of $3,010.00, a price-to-earnings ratio of -15.98, a PEG ratio of 15.67 and a beta of 0.96. Golar LNG has a 52-week low of $19.32 and a 52-week high of $31.64.

The business also recently announced a quarterly dividend, which was paid on Thursday, January 4th. Investors of record on Thursday, December 14th were given a $0.05 dividend. This represents a $0.20 dividend on an annualized basis and a dividend yield of 0.67%. The ex-dividend date of this dividend was Wednesday, December 13th. Golar LNG’s dividend payout ratio is currently -10.75%.

Large investors have recently added to or reduced their stakes in the stock. Quantbot Technologies LP increased its position in shares of Golar LNG by 71.0% in the second quarter. Quantbot Technologies LP now owns 6,233 shares of the shipping company’s stock valued at $138,000 after acquiring an additional 2,589 shares during the last quarter. Sei Investments Co. increased its position in shares of Golar LNG by 19.3% in the second quarter. Sei Investments Co. now owns 6,511 shares of the shipping company’s stock valued at $145,000 after acquiring an additional 1,054 shares during the last quarter. PNC Financial Services Group Inc. increased its position in shares of Golar LNG by 104.0% in the second quarter. PNC Financial Services Group Inc. now owns 7,552 shares of the shipping company’s stock valued at $168,000 after acquiring an additional 3,850 shares during the last quarter. Seven Eight Capital LP increased its position in shares of Golar LNG by 745.6% in the second quarter. Seven Eight Capital LP now owns 8,870 shares of the shipping company’s stock valued at $197,000 after acquiring an additional 7,821 shares during the last quarter. Finally, Fort Washington Investment Advisors Inc. OH increased its position in shares of Golar LNG by 10.3% in the second quarter. Fort Washington Investment Advisors Inc. OH now owns 9,600 shares of the shipping company’s stock valued at $214,000 after acquiring an additional 900 shares during the last quarter. 82.83% of the stock is currently owned by institutional investors and hedge funds.

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Golar LNG Company Profile

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).

Analyst Recommendations for Golar LNG (NASDAQ:GLNG)

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