Golar LNG (NASDAQ:GLNG) Cut to “Hold” at DNB Markets

DNB Markets lowered shares of Golar LNG (NASDAQ:GLNG) from a buy rating to a hold rating in a report released on Wednesday, MarketBeat reports.

GLNG has been the topic of several other research reports. Stifel Nicolaus upped their price objective on Golar LNG from $53.00 to $55.00 and gave the company a “buy” rating in a research note on Tuesday, December 24th. Fearnley Fonds cut Golar LNG from a “strong-buy” rating to a “hold” rating in a research note on Wednesday, November 13th. Finally, StockNews.com upgraded Golar LNG to a “sell” rating in a research note on Monday, December 9th. One analyst has rated the stock with a sell rating, two have given a hold rating and four have issued a buy rating to the stock. Based on data from MarketBeat, the company presently has a consensus rating of “Hold” and an average price target of $50.13.

Golar LNG Stock Performance

Shares of Golar LNG stock opened at $38.95 on Wednesday. The firm has a market cap of $4.07 billion, a PE ratio of 278.23 and a beta of 0.55. The firm’s 50-day simple moving average is $41.53 and its 200-day simple moving average is $37.92. Golar LNG has a 1 year low of $19.94 and a 1 year high of $44.36.

Institutional Trading of Golar LNG

A number of institutional investors and hedge funds have recently made changes to their positions in GLNG. CWM LLC raised its position 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 purchasing an additional 1,479 shares during the period. Blue Trust Inc. raised its position 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 purchasing an additional 703 shares during the period. Lindbrook Capital LLC raised its position in shares of Golar LNG by 103.7% during the 3rd quarter. Lindbrook Capital LLC now owns 12,520 shares of the shipping company’s stock worth $460,000 after purchasing an additional 6,374 shares during the period. Metis Global Partners LLC acquired a new stake in shares of Golar LNG during the 3rd quarter worth approximately $201,000. Finally, Royce & Associates LP raised its position in shares of Golar LNG by 102.5% during the 3rd quarter. Royce & Associates LP now owns 81,000 shares of the shipping company’s stock worth $2,978,000 after purchasing an additional 41,000 shares during the period. 92.21% of the stock is currently 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.