Golar LNG (NASDAQ:GLNG) Downgraded to “Hold” Rating by Fearnley Fonds

Fearnley Fonds lowered shares of Golar LNG (NASDAQ:GLNG) from a strong-buy rating to a hold rating in a research note released on Wednesday morning,Zacks.com reports.

Other equities research analysts also recently issued research reports about the stock. StockNews.com raised shares of Golar LNG to a “sell” rating in a report on Wednesday. B. Riley upped their price objective on shares of Golar LNG from $35.50 to $44.50 and gave the stock a “buy” rating in a report on Friday, July 19th. Stifel Nicolaus reduced their price objective on shares of Golar LNG from $55.00 to $53.00 and set a “buy” rating for the company in a report on Friday, August 16th. Finally, Deutsche Bank Aktiengesellschaft upped their price objective on shares of Golar LNG from $43.00 to $56.00 and gave the stock a “buy” rating in a report on Friday, August 16th. One analyst has rated the stock with a sell rating, one has given a hold rating and four have issued a buy rating to the stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $49.63.

Golar LNG Stock Performance

Shares of GLNG traded down $1.05 during midday trading on Wednesday, hitting $33.94. 334,111 shares of the stock traded hands, compared to its average volume of 1,189,487. Golar LNG has a 1-year low of $19.94 and a 1-year high of $39.40. The firm has a market capitalization of $3.54 billion, a PE ratio of 26.11 and a beta of 0.58. The company has a debt-to-equity ratio of 0.31, a quick ratio of 1.28 and a current ratio of 1.24. The business’s 50 day moving average price is $36.13 and its two-hundred day moving average price is $32.37.

Golar LNG (NASDAQ:GLNG) last posted its quarterly earnings data on Thursday, August 15th. The shipping company reported $0.42 earnings per share for the quarter, missing the consensus estimate of $0.44 by ($0.02). The company had revenue of $62.98 million during the quarter, compared to analyst estimates of $67.38 million. Golar LNG had a return on equity of 9.20% and a net margin of 50.89%. Equities research analysts predict that Golar LNG will post 1.53 EPS for the current fiscal year.

Golar LNG Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Monday, December 2nd. Shareholders of record on Monday, November 25th will be issued a $0.25 dividend. This represents a $1.00 dividend on an annualized basis and a yield of 2.95%. The ex-dividend date is Monday, November 25th. Golar LNG’s payout ratio is 74.63%.

Institutional Investors Weigh In On Golar LNG

Institutional investors and hedge funds have recently bought and sold shares of the business. Clearline Capital LP acquired a new stake in Golar LNG during the 3rd quarter worth about $36,865,000. Appian Way Asset Management LP acquired a new stake in Golar LNG during the 3rd quarter worth about $15,351,000. Verition Fund Management LLC raised its holdings in Golar LNG by 55.8% during the 3rd quarter. Verition Fund Management LLC now owns 489,652 shares of the shipping company’s stock worth $18,000,000 after buying an additional 175,468 shares during the period. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC raised its holdings in Golar LNG by 20.2% during the 3rd quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 194,665 shares of the shipping company’s stock worth $7,156,000 after buying an additional 32,751 shares during the period. Finally, De Lisle Partners LLP raised its holdings in Golar LNG by 9.1% during the 3rd quarter. De Lisle Partners LLP now owns 249,390 shares of the shipping company’s stock worth $9,169,000 after buying an additional 20,890 shares during the period. 92.21% of the stock is owned by institutional investors and hedge funds.

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.