Stifel Nicolaus Forecasts Strong Price Appreciation for Golar LNG (NASDAQ:GLNG) Stock

Golar LNG (NASDAQ:GLNG) had its target price increased by analysts at Stifel Nicolaus from $53.00 to $55.00 in a research report issued to clients and investors on Tuesday,Benzinga reports. The firm presently has a “buy” rating on the shipping company’s stock. Stifel Nicolaus’ target price would suggest a potential upside of 29.69% from the stock’s current price.

Several other brokerages also recently commented on GLNG. Fearnley Fonds downgraded Golar LNG from a “strong-buy” rating to a “hold” rating in a report on Wednesday, November 13th. StockNews.com upgraded 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, one has issued a hold rating and four have assigned a buy rating to the stock. According to MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average target price of $50.13.

Golar LNG Stock Up 1.4 %

GLNG traded up $0.57 on Tuesday, reaching $42.41. 299,348 shares of the company traded hands, compared to its average volume of 1,225,645. The stock’s 50 day moving average price is $38.71 and its 200-day moving average price is $35.14. The company has a debt-to-equity ratio of 0.41, a current ratio of 1.55 and a quick ratio of 1.28. Golar LNG has a 52-week low of $19.94 and a 52-week high of $44.08. The company has a market cap of $4.43 billion, a price-to-earnings ratio of 302.95 and a beta of 0.61.

Hedge Funds Weigh In On Golar LNG

Several hedge funds and other institutional investors have recently modified their holdings of the stock. Healthcare of Ontario Pension Plan Trust Fund grew its position in Golar LNG by 467.9% during the 3rd 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 acquiring an additional 1,843,100 shares during the last quarter. Clearline Capital LP bought a new stake in Golar LNG in the third quarter valued at about $36,865,000. American Century Companies Inc. lifted its stake in Golar LNG by 53.7% in the second quarter. American Century Companies Inc. now owns 1,732,655 shares of the shipping company’s stock valued at $54,319,000 after buying an additional 605,499 shares during the period. Brookfield Corp ON grew its position in shares of Golar LNG by 180.8% during the 3rd quarter. Brookfield Corp ON now owns 849,959 shares of the shipping company’s stock worth $31,244,000 after buying an additional 547,253 shares during the period. Finally, Appian Way Asset Management LP acquired a new position in Golar LNG during the third quarter valued at approximately $15,351,000. 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.