Golar LNG (NASDAQ:GLNG) Upgraded to "Hold" by StockNews.com

Golar LNG (NASDAQ:GLNG - Get Free Report) was upgraded by StockNews.com from a "sell" rating to a "hold" rating in a research report issued to clients and investors on Wednesday.

Golar LNG Stock Up 1.0 %

NASDAQ:GLNG traded up $0.26 on Wednesday, reaching $25.42. The stock had a trading volume of 886,171 shares, compared to its average volume of 1,193,395. The company has a current ratio of 1.49, a quick ratio of 1.49 and a debt-to-equity ratio of 0.34. The company has a 50-day moving average of $22.60 and a 200 day moving average of $22.56. The stock has a market cap of $2.66 billion, a P/E ratio of -59.11 and a beta of 0.61. Golar LNG has a 12-month low of $19.62 and a 12-month high of $25.73.

Golar LNG (NASDAQ:GLNG - Get Free Report) last issued its quarterly earnings results on Thursday, February 29th. The shipping company reported $0.90 EPS for the quarter, topping the consensus estimate of $0.50 by $0.40. Golar LNG had a negative net margin of 15.68% and a positive return on equity of 11.67%. The business had revenue of $78.65 million for the quarter, compared to analysts' expectations of $76.85 million. On average, research analysts predict that Golar LNG will post 1.66 earnings per share for the current year.

Institutional Investors Weigh In On Golar LNG

Several institutional investors and hedge funds have recently bought and sold shares of GLNG. Raymond James & Associates increased its stake in shares of Golar LNG by 38.3% in the first quarter. Raymond James & Associates now owns 14,041 shares of the shipping company's stock valued at $348,000 after purchasing an additional 3,892 shares during the period. Cambridge Investment Research Advisors Inc. acquired a new stake in shares of Golar LNG in the first quarter valued at approximately $1,029,000. Citigroup Inc. increased its stake in shares of Golar LNG by 102.0% in the first quarter. Citigroup Inc. now owns 12,232 shares of the shipping company's stock valued at $303,000 after purchasing an additional 630,818 shares during the period. Vanguard Group Inc. increased its stake in shares of Golar LNG by 3.2% in the first quarter. Vanguard Group Inc. now owns 549,152 shares of the shipping company's stock valued at $13,609,000 after purchasing an additional 17,040 shares during the period. Finally, Cohanzick Management LLC acquired a new stake in shares of Golar LNG in the first quarter valued at approximately $37,000. Institutional investors and hedge funds own 92.21% of the company's stock.

Golar LNG Company Profile

Golar LNG Limited designs, owns, and operates marine infrastructure for the liquefaction of natural gas. The company operates through three segments: FLNG, Corporate and Other, and Shipping. It also engages in the regasification, storage, and offloading of liquefied natural gas (LNG); operation of floating liquefaction natural gas (FLNG) vessels; operation of the transportation of LNG carriers; and vessel management.

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