Traders Buy Large Volume of Put Options on Golar LNG (GLNG)

Golar LNG Limited (NASDAQ:GLNG) saw unusually large options trading activity on Friday. Stock investors acquired 882 put options on the stock. This is an increase of approximately 256% compared to the average volume of 248 put options.

Shares of Golar LNG (NASDAQ GLNG) opened at $24.41 on Monday. The company has a debt-to-equity ratio of 0.83, a quick ratio of 0.51 and a current ratio of 0.51. Golar LNG has a one year low of $19.32 and a one year high of $29.18.

Golar LNG (NASDAQ:GLNG) last issued its quarterly earnings results on Wednesday, August 30th. The shipping company reported ($0.51) EPS for the quarter, missing the Zacks’ consensus estimate of ($0.40) by ($0.11). The firm had revenue of $28.41 million for the quarter, compared to the consensus estimate of $17.03 million. Golar LNG had a negative net margin of 179.35% and a negative return on equity of 7.78%. sell-side analysts expect that Golar LNG will post -1.73 EPS for the current year.

A number of institutional investors and hedge funds have recently modified their holdings of the business. Alyeska Investment Group L.P. boosted its position in Golar LNG by 17.6% during the third quarter. Alyeska Investment Group L.P. now owns 2,356,050 shares of the shipping company’s stock valued at $53,270,000 after acquiring an additional 353,089 shares during the last quarter. Prudential PLC boosted its position in Golar LNG by 2.3% during the second quarter. Prudential PLC now owns 1,821,946 shares of the shipping company’s stock valued at $40,538,000 after acquiring an additional 40,946 shares during the last quarter. HITE Hedge Asset Management LLC boosted its position in Golar LNG by 15.1% during the third quarter. HITE Hedge Asset Management LLC now owns 1,803,869 shares of the shipping company’s stock valued at $40,785,000 after acquiring an additional 236,376 shares during the last quarter. State Street Corp boosted its position in Golar LNG by 6.2% during the second quarter. State Street Corp now owns 1,734,953 shares of the shipping company’s stock valued at $38,608,000 after acquiring an additional 101,007 shares during the last quarter. Finally, Balyasny Asset Management LLC boosted its position in Golar LNG by 35.1% during the second quarter. Balyasny Asset Management LLC now owns 1,136,056 shares of the shipping company’s stock valued at $25,277,000 after acquiring an additional 295,073 shares during the last quarter. 89.64% of the stock is currently owned by institutional investors and hedge funds.

Several analysts recently weighed in on the stock. Zacks Investment Research cut shares of Golar LNG from a “hold” rating to a “sell” rating in a research note on Tuesday, October 31st. ABN Amro raised shares of Golar LNG from a “hold” rating to a “buy” rating in a research note on Monday, October 30th. ValuEngine cut shares of Golar LNG from a “hold” rating to a “sell” rating in a research note on Friday, September 1st. Morgan Stanley reissued an “overweight” rating and issued a $31.00 price objective (down previously from $32.00) on shares of Golar LNG in a research note on Friday, September 1st. Finally, Cowen Inc reissued an “outperform” rating and issued a $45.00 price objective on shares of Golar LNG in a research note on Thursday, August 31st. Three research analysts have rated the stock with a sell rating, one has issued a hold rating and seven have assigned a buy rating to the company’s stock. The stock presently has a consensus rating of “Hold” and an average price target of $34.60.

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Golar LNG 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).

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