Golar LNG (NASDAQ:GLNG) Rating Increased to Hold at StockNews.com

Posted by on Jun 8th, 2023

Golar LNG (NASDAQ:GLNG – Get Rating) was upgraded by stock analysts at StockNews.com from a “sell” rating to a “hold” rating in a note issued to investors on Thursday.

Separately, Stifel Nicolaus dropped their target price on shares of Golar LNG from $35.00 to $34.00 in a research note on Monday, April 24th. One equities research analyst has rated the stock with a hold rating and four have given a buy rating to the stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $32.88.

Golar LNG Price Performance

Shares of NASDAQ:GLNG opened at $22.36 on Thursday. The company has a market capitalization of $2.40 billion, a PE ratio of 8.53 and a beta of 0.69. The business has a fifty day moving average price of $21.62 and a 200-day moving average price of $22.47. Golar LNG has a 1-year low of $19.80 and a 1-year high of $30.66. The company has a debt-to-equity ratio of 0.32, a current ratio of 2.16 and a quick ratio of 2.16.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Cohanzick Management LLC purchased a new stake in Golar LNG during the 1st quarter valued at $37,000. Amundi purchased a new stake in Golar LNG during the fourth quarter valued at $34,000. IFP Advisors Inc lifted its holdings in Golar LNG by 94.6% in the third quarter. IFP Advisors Inc now owns 2,269 shares of the shipping company’s stock valued at $100,000 after acquiring an additional 1,103 shares during the period. Captrust Financial Advisors boosted its position in Golar LNG by 1,152.5% in the first quarter. Captrust Financial Advisors now owns 2,292 shares of the shipping company’s stock worth $57,000 after purchasing an additional 2,109 shares during the last quarter. Finally, Compagnie Lombard Odier SCmA bought a new stake in shares of Golar LNG during the 1st quarter valued at about $63,000. Institutional investors own 72.45% of the company’s stock.

About Golar LNG

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Golar LNG Ltd. owns and operates liquefied natural gas carriers, floating storage, and regasification unit. It operates through the following segments: Vessel Operations, FLNG, and Power. The Vessel Operations segment operates and charter out vessels on fixed terms to customers. The FLNG segment provides integrated upstream and midstream solution for the development of gas reserves to LNG.

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