Golar LNG (NASDAQ:GLNG) Downgraded to “Hold” Rating by DNB Markets

DNB Markets downgraded shares of Golar LNG (NASDAQ:GLNG) from a buy rating to a hold rating in a research note issued to investors on Wednesday, MarketBeat reports.

Several other analysts have also recently commented on the company. Stifel Nicolaus raised their target price on Golar LNG from $53.00 to $55.00 and gave the company a “buy” rating in a research report on Tuesday, December 24th. Fearnley Fonds lowered Golar LNG from a “strong-buy” rating to a “hold” rating in a research note on Wednesday, November 13th. Finally, StockNews.com raised Golar LNG to a “sell” rating in a research note on Monday, December 9th. One research analyst has rated the stock with a sell rating, two have assigned a hold rating and four have issued a buy rating to the stock. According to data from MarketBeat, the stock has an average rating of “Hold” and a consensus target price of $50.13.

Golar LNG Price Performance

GLNG opened at $38.95 on Wednesday. Golar LNG has a 12 month low of $19.94 and a 12 month high of $44.36. The stock has a market cap of $4.07 billion, a P/E ratio of 278.23 and a beta of 0.55. The stock’s 50 day moving average price is $41.53 and its 200 day moving average price is $37.92.

Hedge Funds Weigh In On Golar LNG

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the company. Public Employees Retirement System of Ohio bought a new stake in shares of Golar LNG during the 3rd quarter worth $32,000. Blue Trust Inc. boosted its stake in shares of Golar LNG by 105.1% during the 3rd quarter. Blue Trust Inc. now owns 1,372 shares of the shipping company’s stock worth $50,000 after acquiring an additional 703 shares in the last quarter. CWM LLC boosted its stake in shares of Golar LNG by 830.9% during the 3rd quarter. CWM LLC now owns 1,657 shares of the shipping company’s stock worth $61,000 after acquiring an additional 1,479 shares in the last quarter. USA Financial Formulas bought a new stake in shares of Golar LNG during the 4th quarter worth $61,000. Finally, Bank Julius Baer & Co. Ltd Zurich bought a new stake in shares of Golar LNG during the 4th quarter worth $107,000. 92.21% of the stock is owned by institutional investors.

About Golar LNG

Golar LNG Limited designs, converts, owns, and operates marine infrastructure for the liquefaction of natural gas. The company operates through three segments: FLNG, Corporate and Other, and Shipping. It engages in the regasification, storage, and offloading of liquefied natural gas (LNG); operation of floating liquefaction natural gas (FLNG) vessels or projects; transportation of LNG carriers; and vessel management activities.