Golar LNG (NASDAQ:GLNG) Lowered to Sell Rating by Wall Street Zen

Key Points

• Golar LNG was downgraded from a "hold" to a "sell" rating by Wall Street Zen, amidst negative sentiment from other analysts, including Zacks Research downgrading it to a "strong sell."
• The company's recent quarterly earnings report showed a loss with $0.26 earnings per share, falling short of the $0.29 consensus estimate, and revenue also missed expectations.
• Institutional investors own a significant majority (92.21%) of Golar LNG's stock, with notable increases in positions from several hedge funds during the second quarter.

Golar LNG (NASDAQ:GLNG - Get Free Report) was downgraded by research analysts at Wall Street Zen from a "hold" rating to a "sell" rating in a note issued to investors on Saturday.

GLNG has been the subject of several other research reports. Zacks Research lowered Golar LNG from a "hold" rating to a "strong sell" rating in a research note on Thursday, August 14th. B. Riley restated a "neutral" rating and issued a $44.50 price target on shares of Golar LNG in a research report on Monday, August 25th. Finally, BTIG Research reiterated a "buy" rating on shares of Golar LNG in a report on Wednesday, May 28th. Two equities research analysts have rated the stock with a Strong Buy rating, three have assigned a Buy rating, one has assigned a Hold rating and one has given a Sell rating to the company's stock. According to MarketBeat, the company currently has an average rating of "Moderate Buy" and a consensus price target of $49.17.

Golar LNG Stock Performance

Shares of GLNG stock traded down $0.21 on Friday, hitting $43.62. The company had a trading volume of 40,041 shares, compared to its average volume of 1,521,419. The firm has a market cap of $4.56 billion, a P/E ratio of -625.20 and a beta of 0.42. The company has a 50-day moving average price of $41.57 and a 200-day moving average price of $39.57. The company has a quick ratio of 0.85, a current ratio of 1.47 and a debt-to-equity ratio of 0.63. Golar LNG has a twelve month low of $29.56 and a twelve month high of $45.98.

Golar LNG (NASDAQ:GLNG - Get Free Report) last issued its quarterly earnings data 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). The company had revenue of $75.67 million during the quarter, compared to analyst estimates of $79.37 million. Golar LNG had a negative net margin of 2.83% and a positive return on equity of 6.36%. As a group, equities research analysts predict that Golar LNG will post 1.39 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Golar LNG

Hedge funds have recently made changes to their positions in the company. Naria Inc. acquired a new stake in shares of Golar LNG during the fourth quarter worth about $435,226,000. Millennium Management LLC increased its stake in shares of Golar LNG by 49.2% during 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 in the last quarter. Encompass Capital Advisors LLC purchased a new position in shares of Golar LNG during the 4th quarter worth approximately $55,413,000. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC purchased a new position in shares of Golar LNG during the 1st quarter worth approximately $44,682,000. Finally, Nuveen LLC purchased a new stake in Golar LNG in the 1st quarter worth approximately $33,975,000. Hedge funds and other institutional investors 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.