Golar LNG (NASDAQ:GLNG) Upgraded by Dnb Nor Markets to Strong-Buy Rating

Golar LNG (NASDAQ:GLNG - Get Free Report) was upgraded by Dnb Nor Markets from a "hold" rating to a "strong-buy" rating in a research report issued to clients and investors on Tuesday,Zacks.com reports.

A number of other equities research analysts have also weighed in on GLNG. DNB Markets upgraded shares of Golar LNG from a "hold" rating to a "buy" rating and set a $48.00 price objective for the company in a report on Tuesday, April 22nd. Stifel Nicolaus raised their price objective on Golar LNG from $53.00 to $55.00 and gave the stock a "buy" rating in a report on Tuesday, December 24th. Fearnley Fonds upgraded Golar LNG from a "hold" rating to a "strong-buy" rating in a report on Wednesday, March 19th. Finally, StockNews.com upgraded Golar LNG to a "sell" rating in a research note on Thursday, March 20th. One equities research analyst has rated the stock with a sell rating, five have given a buy rating and two have given a strong buy rating to the stock. According to data from MarketBeat, the company presently has an average rating of "Buy" and an average target price of $49.70.

Golar LNG Stock Performance

Golar LNG stock traded up $0.17 during mid-day trading on Tuesday, hitting $40.48. The company's stock had a trading volume of 639,836 shares, compared to its average volume of 1,616,889. Golar LNG has a one year low of $24.42 and a one year high of $44.36. The stock has a market cap of $4.23 billion, a PE ratio of 289.13 and a beta of 0.47. The company has a 50 day moving average of $36.61 and a 200-day moving average of $38.78.

Hedge Funds Weigh In On Golar LNG

Institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Summit Investment Advisors Inc. boosted its holdings in shares of Golar LNG by 3.3% in the 4th quarter. Summit Investment Advisors Inc. now owns 10,354 shares of the shipping company's stock valued at $438,000 after buying an additional 328 shares in the last quarter. Mariner LLC boosted its stake in Golar LNG by 7.4% in the fourth quarter. Mariner LLC now owns 5,995 shares of the shipping company's stock valued at $254,000 after acquiring an additional 414 shares in the last quarter. Kingswood Wealth Advisors LLC increased its position in shares of Golar LNG by 5.0% during the fourth quarter. Kingswood Wealth Advisors LLC now owns 10,500 shares of the shipping company's stock worth $444,000 after purchasing an additional 500 shares in the last quarter. Metis Global Partners LLC increased its position in shares of Golar LNG by 9.8% during the fourth quarter. Metis Global Partners LLC now owns 5,996 shares of the shipping company's stock worth $254,000 after purchasing an additional 534 shares in the last quarter. Finally, Merit Financial Group LLC lifted its holdings in shares of Golar LNG by 13.3% during the 4th quarter. Merit Financial Group LLC now owns 7,363 shares of the shipping company's stock valued at $312,000 after purchasing an additional 866 shares during the last quarter. 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.