Golar LNG (NASDAQ:GLNG) Earns Underperform Rating from Bank of America

Golar LNG (NASDAQ:GLNG)‘s stock had its “underperform” rating restated by research analysts at Bank of America in a research report issued to clients and investors on Monday, Benzinga reports.

A number of other equities analysts also recently issued reports on GLNG. Jefferies Financial Group increased their price target on shares of Golar LNG from $15.00 to $17.00 and gave the company a “buy” rating in a report on Friday, January 29th. B. Riley increased their price objective on shares of Golar LNG from $13.00 to $20.50 and gave the company a “buy” rating in a research note on Thursday, January 14th. They noted that the move was a valuation call. Finally, Citigroup began coverage on shares of Golar LNG in a research note on Tuesday, March 2nd. They issued a “neutral” rating and a $13.00 price objective on the stock. One analyst has rated the stock with a sell rating, two have issued a hold rating and four have assigned a buy rating to the stock. Golar LNG has an average rating of “Hold” and a consensus price target of $13.42.

Shares of GLNG opened at $10.49 on Monday. The company has a 50-day simple moving average of $10.92 and a 200-day simple moving average of $9.96. The company has a current ratio of 0.15, a quick ratio of 0.15 and a debt-to-equity ratio of 0.88. Golar LNG has a 52-week low of $5.39 and a 52-week high of $15.12.

Institutional investors have recently added to or reduced their stakes in the business. Campbell & CO Investment Adviser LLC acquired a new stake in shares of Golar LNG during the 4th quarter worth about $102,000. People s United Financial Inc. acquired a new stake in shares of Golar LNG during the 4th quarter worth about $105,000. US Bancorp DE acquired a new stake in shares of Golar LNG during the 4th quarter worth about $109,000. Engineers Gate Manager LP purchased a new position in shares of Golar LNG during the 4th quarter worth about $115,000. Finally, SG Americas Securities LLC lifted its holdings in shares of Golar LNG by 19.8% during the 4th quarter. SG Americas Securities LLC now owns 19,060 shares of the shipping company’s stock worth $184,000 after acquiring an additional 3,152 shares during the period. 64.10% of the stock is currently owned by institutional investors.

Golar LNG Company Profile

Golar LNG Limited provides infrastructure for the liquefaction, transportation, regasification, and downstream distribution of LNG. It operates through three segments: Vessel Operations, Floating Liquefaction Natural Gas Vessel (FLNG), and Power. The company engages in the acquisition, ownership, operation, and chartering of LNG carriers, FLNG, and floating storage regasification units (FSRUs); and the development of gas to power projects, as well as LNG distribution operations.

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Analyst Recommendations for Golar LNG (NASDAQ:GLNG)

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