Golar LNG (NASDAQ:GLNG) Rating Lowered to Sell at StockNews.com

Golar LNG (NASDAQ:GLNG) was downgraded by equities researchers at StockNews.com from a “hold” rating to a “sell” rating in a research note issued on Thursday.

Golar LNG Stock Performance

Shares of Golar LNG stock opened at $25.10 on Thursday. The firm has a market capitalization of $2.62 billion, a P/E ratio of -58.37 and a beta of 0.61. Golar LNG has a 52 week low of $19.62 and a 52 week high of $25.90. The company has a quick ratio of 1.49, a current ratio of 1.49 and a debt-to-equity ratio of 0.34. The firm’s 50 day moving average is $23.46 and its two-hundred day moving average is $22.72.

Golar LNG (NASDAQ:GLNG) last announced its quarterly earnings results on Thursday, February 29th. The shipping company reported $0.90 EPS for the quarter, beating the consensus estimate of $0.50 by $0.40. The company had revenue of $78.65 million for the quarter, compared to analyst estimates of $76.85 million. Golar LNG had a negative net margin of 15.68% and a positive return on equity of 11.67%. Research analysts forecast that Golar LNG will post 1.66 EPS for the current fiscal year.

Hedge Funds Weigh In On Golar LNG

Hedge funds have recently modified their holdings of the business. Hosking Partners LLP grew its position in shares of Golar LNG by 20.1% during the third quarter. Hosking Partners LLP now owns 766,339 shares of the shipping company’s stock worth $18,591,000 after acquiring an additional 128,416 shares during the last quarter. Rubric Capital Management LP grew its position in shares of Golar LNG by 0.8% during the third quarter. Rubric Capital Management LP now owns 6,506,757 shares of the shipping company’s stock worth $157,854,000 after acquiring an additional 50,000 shares during the last quarter. American Century Companies Inc. lifted its holdings in shares of Golar LNG by 59.1% during the third quarter. American Century Companies Inc. now owns 888,096 shares of the shipping company’s stock worth $21,545,000 after purchasing an additional 330,059 shares during the period. Deutsche Bank AG lifted its holdings in shares of Golar LNG by 18.9% during the third quarter. Deutsche Bank AG now owns 51,107 shares of the shipping company’s stock worth $1,240,000 after purchasing an additional 8,120 shares during the period. Finally, Stifel Financial Corp lifted its holdings in shares of Golar LNG by 79.2% during the third quarter. Stifel Financial Corp now owns 396,674 shares of the shipping company’s stock worth $9,623,000 after purchasing an additional 175,348 shares during the period. 92.21% of the stock is currently owned by hedge funds and other institutional investors.

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.