Golar LNG (NASDAQ:GLNG) Upgraded by StockNews.com to “Sell” Rating

Golar LNG (NASDAQ:GLNG) was upgraded by analysts at StockNews.com to a “sell” rating in a report issued on Thursday.

Several other brokerages have also recently commented on GLNG. Stifel Nicolaus boosted their price target on shares of Golar LNG from $53.00 to $55.00 and gave the stock a “buy” rating in a research note on Tuesday, December 24th. DNB Markets downgraded Golar LNG from a “buy” rating to a “hold” rating in a research note on Wednesday, February 19th. One analyst has rated the stock with a sell rating, two have given a hold rating and four have given a buy rating to the company’s stock. According to MarketBeat, the company currently has a consensus rating of “Hold” and a consensus price target of $50.13.

Golar LNG Price Performance

Shares of NASDAQ:GLNG traded up $1.10 during trading on Thursday, hitting $38.30. 2,662,364 shares of the company’s stock were exchanged, compared to its average volume of 1,208,183. The business’s 50-day simple moving average is $38.92 and its 200 day simple moving average is $38.33. The company has a market cap of $4.00 billion, a price-to-earnings ratio of 273.59 and a beta of 0.78. Golar LNG has a 52-week low of $23.45 and a 52-week high of $44.36.

Institutional Trading of Golar LNG

Institutional investors have recently added to or reduced their stakes in the company. Barclays PLC raised its holdings in shares of Golar LNG by 431.3% in the third quarter. Barclays PLC now owns 185,018 shares of the shipping company’s stock worth $6,802,000 after buying an additional 150,195 shares during the period. De Lisle Partners LLP lifted its position in shares of Golar LNG by 9.1% during the third quarter. De Lisle Partners LLP now owns 249,390 shares of the shipping company’s stock worth $9,169,000 after purchasing an additional 20,890 shares during the last quarter. Healthcare of Ontario Pension Plan Trust Fund lifted its position in shares of Golar LNG by 467.9% during the third quarter. Healthcare of Ontario Pension Plan Trust Fund now owns 2,237,000 shares of the shipping company’s stock worth $82,232,000 after purchasing an additional 1,843,100 shares during the last quarter. JPMorgan Chase & Co. boosted its stake in shares of Golar LNG by 37.0% during the third quarter. JPMorgan Chase & Co. now owns 218,971 shares of the shipping company’s stock valued at $8,049,000 after purchasing an additional 59,188 shares during the period. Finally, Stifel Financial Corp grew its holdings in shares of Golar LNG by 21.8% in the third quarter. Stifel Financial Corp now owns 639,813 shares of the shipping company’s stock worth $23,520,000 after purchasing an additional 114,531 shares during the last quarter. Institutional investors own 92.21% of the company’s stock.

Golar LNG Company Profile

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.