Golar LNG (NASDAQ:GLNG) Stock Rating Upgraded by The Goldman Sachs Group

Key Points

• Golar LNG was upgraded to a "strong-buy" rating by analysts at The Goldman Sachs Group, reflecting increased investor confidence in the stock.
• Three research analysts rated Golar LNG as a Strong Buy, while others have given it a Buy and Hold rating, with the stock's average price target set at $50.38.
• The company reported a loss of $0.03 per share, missing analysts' expectations for Q2, and generated $75.67 million in revenue, below the consensus estimate of $79.37 million.

Golar LNG (NASDAQ:GLNG - Get Free Report) was upgraded by analysts at The Goldman Sachs Group to a "strong-buy" rating in a research report issued to clients and investors on Monday,Zacks.com reports.

A number of other research firms also recently weighed in on GLNG. Wall Street Zen upgraded shares of Golar LNG from a "sell" rating to a "hold" rating in a research note on Sunday, September 7th. Zacks Research upgraded shares of Golar LNG from a "strong sell" rating to a "hold" rating in a research note on Friday, September 12th. Finally, B. Riley reiterated a "neutral" rating and set a $44.50 price target on shares of Golar LNG in a research note on Monday, August 25th. Three research analysts have rated the stock with a Strong Buy rating, three have issued a Buy rating and two have assigned a Hold rating to the company's stock. According to data from MarketBeat, the stock has an average rating of "Buy" and an average price target of $50.38.

Golar LNG Trading Up 0.5%

Shares of GLNG stock opened at $40.41 on Monday. Golar LNG has a 1 year low of $29.56 and a 1 year high of $45.98. The firm's fifty day simple moving average is $41.53 and its 200 day simple moving average is $40.14. The firm has a market capitalization of $4.22 billion, a P/E ratio of -577.20 and a beta of 0.42. The company has a current ratio of 1.47, a quick ratio of 0.85 and a debt-to-equity ratio of 0.63.

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 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 company had revenue of $75.67 million for the quarter, compared to the consensus estimate of $79.37 million. As a group, sell-side analysts predict that Golar LNG will post 1.39 EPS for the current year.

Institutional Investors Weigh In On Golar LNG

Several institutional investors and hedge funds have recently made changes to their positions in the company. Rubric Capital Management LP raised its holdings in shares of Golar LNG by 2.3% in the second quarter. Rubric Capital Management LP now owns 9,178,978 shares of the shipping company's stock valued at $378,082,000 after buying an additional 203,829 shares during the last quarter. Encompass Capital Advisors LLC raised its holdings in Golar LNG by 73.8% during the 1st quarter. Encompass Capital Advisors LLC now owns 2,276,083 shares of the shipping company's stock worth $86,468,000 after purchasing an additional 966,692 shares during the last quarter. State Street Corp raised its holdings in Golar LNG by 1.4% during the 2nd quarter. State Street Corp now owns 1,914,741 shares of the shipping company's stock worth $78,868,000 after purchasing an additional 26,838 shares during the last quarter. Appian Way Asset Management LP increased its stake in shares of Golar LNG by 6.2% in the 1st quarter. Appian Way Asset Management LP now owns 1,524,621 shares of the shipping company's stock valued at $57,920,000 after acquiring an additional 89,199 shares during the last quarter. Finally, Geode Capital Management LLC increased its stake in shares of Golar LNG by 2.0% in the 2nd quarter. Geode Capital Management LLC now owns 1,345,804 shares of the shipping company's stock valued at $55,434,000 after acquiring an additional 26,722 shares during the last quarter. Institutional investors and hedge funds own 92.21% of the company's stock.

Golar LNG Company Profile

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.

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