Golar LNG's (GLNG) "Neutral" Rating Reiterated at B. Riley

Key Points

• B. Riley has reiterated a "neutral" rating for Golar LNG (NASDAQ:GLNG), setting a target price of $44.50, which indicates a potential downside of 0.76% from the current price.
• Golar LNG recently reported a loss of $0.03 per share for the last quarter, missing the consensus estimate, with revenues also falling short of expectations at $75.67 million.
• The stock has a consensus rating of "Moderate Buy" among analysts, with an average price target of $49.17 based on various recent ratings updates.

B. Riley reissued their neutral rating on shares of Golar LNG (NASDAQ:GLNG - Free Report) in a research note released on Monday, Marketbeat Ratings reports. The brokerage currently has a $44.50 price target on the shipping company's stock.

Other analysts also recently issued reports about the stock. BTIG Research reissued a "buy" rating on shares of Golar LNG in a research note on Wednesday, May 28th. Wall Street Zen upgraded shares of Golar LNG from a "sell" rating to a "hold" rating in a report on Saturday, August 16th. Finally, Zacks Research cut shares of Golar LNG from a "hold" rating to a "strong sell" rating in a report on Thursday, August 14th. Two research analysts have rated the stock with a Strong Buy rating, three have issued a Buy rating, one has issued a Hold rating and one has assigned a Sell rating to the company. According to data from MarketBeat.com, Golar LNG has an average rating of "Moderate Buy" and a consensus price target of $49.17.

Golar LNG Price Performance

Shares of NASDAQ GLNG traded down $1.05 during trading on Monday, hitting $43.82. The company had a trading volume of 1,016,951 shares, compared to its average volume of 1,536,809. The business's 50-day moving average is $41.39 and its 200 day moving average is $39.48. The company has a debt-to-equity ratio of 0.63, a quick ratio of 0.85 and a current ratio of 1.47. Golar LNG has a 52 week low of $29.56 and a 52 week high of $45.98. The company has a market cap of $4.58 billion, a P/E ratio of -625.91 and a beta of 0.56.

Golar LNG (NASDAQ:GLNG - Get Free Report) last announced its earnings results on Thursday, August 14th. The shipping company reported $0.26 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.29 by ($0.03). Golar LNG had a negative net margin of 2.83% and a positive return on equity of 6.36%. The firm had revenue of $75.67 million for the quarter, compared to analyst estimates of $79.37 million. Equities research analysts predict that Golar LNG will post 1.39 earnings per share for the current fiscal year.

Golar LNG Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, September 2nd. Investors of record on Tuesday, August 26th will be given a $0.25 dividend. This represents a $1.00 annualized dividend and a yield of 2.3%. The ex-dividend date of this dividend is Tuesday, August 26th. Golar LNG's dividend payout ratio is -1,428.57%.

Institutional Inflows and Outflows

Hedge funds have recently added to or reduced their stakes in the business. Hexagon Capital Partners LLC raised its position in Golar LNG by 358.9% in the first quarter. Hexagon Capital Partners LLC now owns 647 shares of the shipping company's stock worth $25,000 after purchasing an additional 506 shares in the last quarter. Quarry LP acquired a new position in Golar LNG in the first quarter worth about $26,000. SVB Wealth LLC acquired a new position in Golar LNG in the first quarter worth about $31,000. Signaturefd LLC raised its position in Golar LNG by 64.6% in the second quarter. Signaturefd LLC now owns 856 shares of the shipping company's stock worth $35,000 after purchasing an additional 336 shares in the last quarter. Finally, Allworth Financial LP raised its position in Golar LNG by 43.5% in the second quarter. Allworth Financial LP now owns 990 shares of the shipping company's stock worth $41,000 after purchasing an additional 300 shares in the last quarter. Institutional investors and hedge funds own 92.21% of the company's stock.

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.