Golar LNG (NASDAQ:GLNG) Coverage Initiated by Analysts at Citigroup

Key Points

• Citigroup has upgraded Golar LNG to a "strong-buy" rating, indicating increased confidence in the company's future performance.
• Golar LNG’s stock has a current price target of $50.50, with ratings ranging from "Strong Buy" to "Hold" from various analysts.
• In the latest earnings report, Golar LNG missed EPS expectations, reporting $0.26 instead of the anticipated $0.29, alongside revenue of $75.67 million.

Investment analysts at Citigroup started coverage on shares of Golar LNG (NASDAQ:GLNG - Get Free Report) in a research note issued on Friday, MarketBeat.com reports. The brokerage set a "buy" rating and a $51.00 price target on the shipping company's stock. Citigroup's price target would suggest a potential upside of 30.80% from the stock's previous close.

Other analysts also recently issued research reports about the stock. Wall Street Zen raised shares of Golar LNG from a "sell" rating to a "hold" rating in a research report on Sunday, September 7th. B. Riley reiterated a "neutral" rating and set a $44.50 price objective on shares of Golar LNG in a report on Monday, August 25th. Weiss Ratings reiterated a "hold (c-)" rating on shares of Golar LNG in a report on Wednesday. The Goldman Sachs Group initiated coverage on Golar LNG in a research report on Monday, September 29th. They set a "buy" rating and a $54.00 target price on the stock. Finally, Zacks Research raised Golar LNG from a "strong sell" rating to a "hold" rating in a research report on Friday, September 12th. Four investment analysts have rated the stock with a Strong Buy rating, three have assigned a Buy rating and three have assigned a Hold rating to the company. According to MarketBeat, the company currently has a consensus rating of "Buy" and a consensus target price of $50.50.

Golar LNG Stock Performance

Shares of Golar LNG stock opened at $38.99 on Friday. Golar LNG has a fifty-two week low of $29.56 and a fifty-two week high of $45.98. The company has a debt-to-equity ratio of 0.63, a current ratio of 1.47 and a quick ratio of 0.85. The firm has a market capitalization of $4.08 billion, a P/E ratio of -556.92 and a beta of 0.22. The company's 50 day moving average price is $41.26 and its two-hundred day moving average price is $40.20.

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

Institutional Investors Weigh In On Golar LNG

Several institutional investors have recently added to or reduced their stakes in the business. Allworth Financial LP lifted its holdings in Golar LNG by 43.5% during the second quarter. Allworth Financial LP now owns 990 shares of the shipping company's stock valued at $41,000 after purchasing an additional 300 shares during the last quarter. Signaturefd LLC grew its stake in Golar LNG by 64.6% in the 2nd quarter. Signaturefd LLC now owns 856 shares of the shipping company's stock valued at $35,000 after buying an additional 336 shares in the last quarter. Fox Run Management L.L.C. grew its stake in Golar LNG by 5.4% in the 1st quarter. Fox Run Management L.L.C. now owns 7,115 shares of the shipping company's stock valued at $270,000 after buying an additional 362 shares in the last quarter. Xponance Inc. grew its stake in Golar LNG by 4.8% in the 1st quarter. Xponance Inc. now owns 8,515 shares of the shipping company's stock valued at $323,000 after buying an additional 387 shares in the last quarter. Finally, Metis Global Partners LLC grew its stake in Golar LNG by 6.1% in the 2nd quarter. Metis Global Partners LLC now owns 6,829 shares of the shipping company's stock valued at $281,000 after buying an additional 395 shares in the last quarter. 92.21% of the stock is owned by hedge funds and other institutional investors.

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.