Golar LNG Limited (NASDAQ:GLNG) was downgraded by Zacks Investment Research from a “hold” rating to a “sell” rating in a research note issued to investors on Tuesday.

According to Zacks, “GOLAR LNG LIMITED is engaged in the acquisition, ownership, operation and chartering of liquid natural gas carriers and floating storage re-gasification units through its subsidiaries. “

A number of other research firms have also recently weighed in on GLNG. Stifel Nicolaus reaffirmed a “buy” rating and set a $36.00 target price on shares of Golar LNG Limited in a research note on Wednesday, July 5th. Cowen and Company reaffirmed an “outperform” rating and set a $45.00 target price on shares of Golar LNG Limited in a research note on Thursday, August 31st. ValuEngine cut shares of Golar LNG Limited from a “hold” rating to a “sell” rating in a research note on Friday, September 1st. Morgan Stanley reaffirmed an “overweight” rating and set a $31.00 target price (down previously from $32.00) on shares of Golar LNG Limited in a research note on Friday, September 1st. Finally, Citigroup Inc. decreased their target price on shares of Golar LNG Limited from $28.00 to $26.00 and set a “buy” rating on the stock in a research note on Thursday, August 17th. Three equities research analysts have rated the stock with a sell rating, one has assigned a hold rating and eight have issued a buy rating to the company’s stock. The stock currently has an average rating of “Hold” and an average target price of $34.67.

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 analysts’ consensus estimates of ($0.40) by ($0.11). The company had revenue of $28.41 million for the quarter, compared to the consensus estimate of $17.03 million. Golar LNG Limited had a negative return on equity of 7.78% and a negative net margin of 179.35%.

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Several institutional investors have recently modified their holdings of GLNG. HITE Hedge Asset Management LLC grew its stake in shares of Golar LNG Limited by 79.3% in the second quarter. HITE Hedge Asset Management LLC now owns 1,567,493 shares of the shipping company’s stock worth $34,877,000 after purchasing an additional 693,185 shares during the last quarter. Frontier Capital Management Co. LLC bought a new stake in shares of Golar LNG Limited in the third quarter worth $7,380,000. Balyasny Asset Management LLC grew its stake in shares of Golar LNG Limited by 35.1% in the second quarter. Balyasny Asset Management LLC now owns 1,136,056 shares of the shipping company’s stock worth $25,277,000 after purchasing an additional 295,073 shares during the last quarter. Bank of America Corp DE grew its stake in shares of Golar LNG Limited by 38.9% in the first quarter. Bank of America Corp DE now owns 843,820 shares of the shipping company’s stock worth $23,568,000 after purchasing an additional 236,435 shares during the last quarter. Finally, Boston Private Wealth LLC bought a new stake in shares of Golar LNG Limited in the second quarter worth $4,461,000. 87.42% of the stock is currently owned by institutional investors.

Golar LNG Limited Company Profile

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).

Analyst Recommendations for Golar LNG Limited (NASDAQ:GLNG)

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