Cowen and Company Reaffirms “Outperform” Rating for Golar LNG Limited (GLNG)
Cowen and Company reaffirmed their outperform rating on shares of Golar LNG Limited (NASDAQ:GLNG) in a report published on Thursday morning. The firm currently has a $45.00 price objective on the shipping company’s stock.
Several other equities analysts have also weighed in on the stock. Citigroup Inc. reaffirmed a buy rating and set a $28.00 target price (down from $29.00) on shares of Golar LNG Limited in a report on Thursday, June 1st. Zacks Investment Research lowered shares of Golar LNG Limited from a hold rating to a sell rating in a report on Tuesday, May 9th. Morgan Stanley reaffirmed an overweight rating and set a $32.00 target price (down from $36.00) on shares of Golar LNG Limited in a report on Tuesday, June 13th. Stifel Nicolaus reaffirmed a buy rating and set a $36.00 target price on shares of Golar LNG Limited in a report on Wednesday, July 5th. Finally, BidaskClub lowered shares of Golar LNG Limited from a sell rating to a strong sell rating in a report on Saturday, June 10th. Two research analysts have rated the stock with a sell rating, three have assigned a hold rating and nine have issued a buy rating to the company’s stock. The stock has an average rating of Buy and an average target price of $34.00.
Golar LNG Limited (NASDAQ GLNG) traded down 1.06% during trading on Thursday, hitting $21.45. 944,081 shares of the company’s stock were exchanged. Golar LNG Limited has a 12-month low of $19.85 and a 12-month high of $29.18. The firm’s market cap is $2.10 billion. The company’s 50-day moving average price is $22.07 and its 200 day moving average price is $24.70.
Golar LNG Limited (NASDAQ:GLNG) last posted its earnings results on Wednesday, August 30th. The shipping company reported ($0.51) earnings per share for the quarter, missing the consensus estimate of ($0.40) by $0.11. The firm had revenue of $28.41 million for the quarter, compared to analysts’ expectations of $17.03 million. Golar LNG Limited had a negative net margin of 179.35% and a negative return on equity of 7.78%. Equities analysts forecast that Golar LNG Limited will post ($1.60) earnings per share for the current fiscal year.
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The business also recently declared a quarterly dividend, which will be paid on Wednesday, October 4th. Investors of record on Thursday, September 14th will be paid a $0.05 dividend. The ex-dividend date of this dividend is Wednesday, September 13th. This represents a $0.20 dividend on an annualized basis and a yield of 0.93%.
Large investors have recently added to or reduced their stakes in the stock. Quantbot Technologies LP boosted its stake in Golar LNG Limited by 18.0% during the 1st quarter. Quantbot Technologies LP now owns 3,644 shares of the shipping company’s stock worth $101,000 after purchasing an additional 557 shares during the last quarter. Sei Investments Co. boosted its stake in Golar LNG Limited by 84.1% during the 1st quarter. Sei Investments Co. now owns 5,457 shares of the shipping company’s stock worth $152,000 after purchasing an additional 2,493 shares during the last quarter. PNC Financial Services Group Inc. boosted its stake in Golar LNG Limited by 104.0% during the 2nd quarter. PNC Financial Services Group Inc. now owns 7,552 shares of the shipping company’s stock worth $168,000 after purchasing an additional 3,850 shares during the last quarter. FNY Managed Accounts LLC acquired a new stake in Golar LNG Limited during the 1st quarter worth $212,000. Finally, Strs Ohio boosted its stake in Golar LNG Limited by 80.0% during the 1st quarter. Strs Ohio now owns 8,100 shares of the shipping company’s stock worth $226,000 after purchasing an additional 3,600 shares during the last quarter. 87.51% of the stock is currently owned by hedge funds and other institutional investors.
About Golar LNG Limited
Golar LNG Limited is a midstream liquefied natural gas (LNG) company engaged primarily in the transportation, regasification, liquefaction and trading of LNG. The Company is engaged in the acquisition, ownership, operation and chartering of LNG carriers and Floating Storage Regasification Unit (FSRUs) through its subsidiaries and affiliates, and the development of LNG projects, such as floating LNGs (FLNGs).
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