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

Key Points

• Golar LNG has been upgraded from a "sell" rating to a "hold" rating by Wall Street Zen, reflecting a shift in analyst sentiment towards the stock.
• The stock currently has a consensus rating of "Buy" and a target price of $53.00, with several analysts offering "buy" and "strong buy" ratings.
• Golar LNG's recent earnings report showed an EPS of $0.26, which missed the consensus estimate, raising concerns about the company's revenue performance.

Golar LNG (NASDAQ:GLNG - Get Free Report) was upgraded by equities research analysts at Wall Street Zen from a "sell" rating to a "hold" rating in a report released on Saturday.

A number of other equities research analysts have also weighed in on the company. BTIG Research restated a "buy" rating on shares of Golar LNG in a research note on Wednesday, May 28th. DNB Markets raised Golar LNG from a "hold" rating to a "buy" rating and set a $48.00 target price for the company in a report on Tuesday, April 22nd. Finally, Dnb Nor Markets raised Golar LNG from a "hold" rating to a "strong-buy" rating in a report on Tuesday, April 22nd. Two equities research analysts have rated the stock with a Strong Buy rating, three have given a Buy rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat.com, Golar LNG presently has a consensus rating of "Buy" and a consensus price target of $51.50.

Golar LNG Stock Up 1.0%

Shares of GLNG stock traded up $0.43 during trading hours on Friday, reaching $41.67. 749,958 shares of the company's stock were exchanged, compared to its average volume of 1,060,748. Golar LNG has a 1 year low of $29.56 and a 1 year high of $44.36. The stock has a market cap of $4.36 billion, a PE ratio of -595.20 and a beta of 0.56. The company has a current ratio of 1.47, a quick ratio of 0.85 and a debt-to-equity ratio of 0.63. The stock's fifty day moving average price is $41.12 and its two-hundred day moving average price is $39.36.

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

Institutional Inflows and Outflows

A number of large investors have recently bought and sold shares of GLNG. Naria Inc. acquired a new position in Golar LNG in the fourth quarter valued at approximately $435,226,000. Millennium Management LLC lifted its holdings in Golar LNG by 49.2% in the fourth quarter. Millennium Management LLC now owns 4,638,045 shares of the shipping company's stock valued at $196,282,000 after acquiring an additional 1,529,884 shares during the period. Encompass Capital Advisors LLC acquired a new position in Golar LNG in the fourth quarter valued at approximately $55,413,000. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC acquired a new position in Golar LNG in the first quarter valued at approximately $44,682,000. Finally, Nuveen LLC acquired a new position in Golar LNG in the first quarter valued at approximately $33,975,000. 92.21% of the stock is owned by institutional investors and hedge funds.

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.