Shares of Golar LNG Ltd. (NASDAQ:GLNG) have been assigned a consensus recommendation of “Hold” from the nineteen brokerages that are covering the stock. Four research analysts have rated the stock with a sell recommendation, one has given a hold recommendation and twelve have given a buy recommendation to the company. The average 1-year target price among brokerages that have issued ratings on the stock in the last year is $29.86.
Several brokerages recently issued reports on GLNG. Jefferies Group reissued a “buy” rating on shares of Golar LNG in a research note on Monday, September 12th. Morgan Stanley assumed coverage on shares of Golar LNG in a research note on Tuesday, September 6th. They issued a “buy” rating and a $30.00 price objective on the stock. Bank of America Corp. raised shares of Golar LNG from a “neutral” rating to a “buy” rating and set a $21.00 price objective on the stock in a research note on Monday, August 1st. DNB Markets raised shares of Golar LNG from a “hold” rating to a “buy” rating in a research note on Friday, July 1st. Finally, Sanford C. Bernstein lowered shares of Golar LNG from a “buy” rating to a “sell” rating and dropped their price objective for the company from $38.00 to $10.00 in a research note on Thursday, June 30th.
Hedge funds have recently bought and sold shares of the company. Rothschild Investment Corp IL increased its stake in Golar LNG by 22.7% in the second quarter. Rothschild Investment Corp IL now owns 25,275 shares of the company’s stock worth $392,000 after buying an additional 4,675 shares during the period. Aperio Group LLC bought a new stake in Golar LNG during the first quarter worth about $547,000. Nuveen Asset Management LLC bought a new stake in Golar LNG during the first quarter worth about $5,018,000. TIAA CREF Investment Management LLC increased its stake in Golar LNG by 109.8% in the first quarter. TIAA CREF Investment Management LLC now owns 449,542 shares of the company’s stock worth $8,078,000 after buying an additional 235,259 shares during the period. Finally, Pacad Investment Ltd. bought a new stake in Golar LNG during the first quarter worth about $180,000. Institutional investors and hedge funds own 88.14% of the company’s stock.
Shares of Golar LNG (NASDAQ:GLNG) opened at 20.38 on Monday. The company’s 50 day moving average is $20.54 and its 200 day moving average is $18.41. The company’s market cap is $1.84 billion. Golar LNG has a one year low of $9.42 and a one year high of $34.69.
Golar LNG (NASDAQ:GLNG) last issued its earnings results on Wednesday, August 31st. The company reported ($0.96) earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of ($0.47) by $0.49. Golar LNG had a negative return on equity of 9.31% and a negative net margin of 453.75%. On average, equities analysts predict that Golar LNG will post ($2.02) earnings per share for the current year.
The business also recently disclosed a quarterly dividend, which will be paid on Monday, October 3rd. Investors of record on Wednesday, September 14th will be issued a dividend of $0.05 per share. The ex-dividend date is Monday, September 12th. This represents a $0.20 dividend on an annualized basis and a yield of 0.98%.
About Golar LNG
Golar LNG Limited (Golar) is the owner and operator of liquefied natural gas (LNG) carriers and floating storage regasification units (FSRUs). As of March 31, 2010, Golar had a fleet of 13 vessels, 10 LNG carriers, three FSRUs and a 50% interest in a further LNG carrier. On June 22, 2009, the Company formed a wholly owned subsidiary, Golar LNG Energy Limited (Golar Energy).
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