Golar LNG (GLNG) Price Target Raised to $44.00

Golar LNG (NASDAQ:GLNG) had its price target raised by equities researchers at Cowen from $41.00 to $44.00 in a research report issued to clients and investors on Tuesday. The firm presently has an “outperform” rating on the shipping company’s stock. Cowen’s price objective suggests a potential upside of 69.75% from the stock’s previous close.

Several other research analysts also recently commented on the stock. Morgan Stanley reaffirmed an “overweight” rating and issued a $31.00 price target (down previously from $32.00) on shares of Golar LNG in a research note on Friday, September 1st. ValuEngine downgraded shares of Golar LNG from a “hold” rating to a “sell” rating in a research report on Friday, September 1st. ABN Amro raised shares of Golar LNG from a “hold” rating to a “buy” rating in a research report on Monday, October 30th. Zacks Investment Research downgraded shares of Golar LNG from a “hold” rating to a “sell” rating in a research report on Tuesday, October 31st. Finally, Citigroup cut their target price on shares of Golar LNG from $28.00 to $26.00 and set a “buy” rating on the stock in a research report on Thursday, August 17th. Two analysts have rated the stock with a sell rating, two have assigned a hold rating and six have assigned a buy rating to the stock. The company currently has a consensus rating of “Hold” and an average target price of $34.40.

Golar LNG (NASDAQ GLNG) opened at $25.92 on Tuesday. Golar LNG has a 12 month low of $19.32 and a 12 month high of $29.18. The company has a debt-to-equity ratio of 0.77, a current ratio of 0.41 and a quick ratio of 0.41.

Hedge funds and other institutional investors have recently bought and sold shares of the business. Quantbot Technologies LP boosted its holdings in shares of Golar LNG by 71.0% in the 2nd quarter. Quantbot Technologies LP now owns 6,233 shares of the shipping company’s stock valued at $138,000 after buying an additional 2,589 shares in the last quarter. Sei Investments Co. boosted its holdings in shares of Golar LNG by 19.3% in the 2nd quarter. Sei Investments Co. now owns 6,511 shares of the shipping company’s stock valued at $145,000 after buying an additional 1,054 shares in the last quarter. PNC Financial Services Group Inc. boosted its holdings in shares of Golar LNG by 104.0% in the 2nd quarter. PNC Financial Services Group Inc. now owns 7,552 shares of the shipping company’s stock valued at $168,000 after buying an additional 3,850 shares in the last quarter. Seven Eight Capital LP boosted its holdings in shares of Golar LNG by 745.6% in the 2nd quarter. Seven Eight Capital LP now owns 8,870 shares of the shipping company’s stock valued at $197,000 after buying an additional 7,821 shares in the last quarter. Finally, Fort Washington Investment Advisors Inc. OH boosted its holdings in shares of Golar LNG by 10.3% in the 2nd quarter. Fort Washington Investment Advisors Inc. OH now owns 9,600 shares of the shipping company’s stock valued at $214,000 after buying an additional 900 shares in the last quarter. 82.85% of the stock is currently owned by institutional investors and hedge funds.

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About Golar LNG

Golar LNG Limited is a midstream liquefied natural gas (LNG) company engaged primarily in the transportation, regasification, liquefaction and trading of LNG. The Company is engaged in the acquisition, ownership, operation and chartering of LNG carriers and Floating Storage Regasification Unit (FSRUs) through its subsidiaries and affiliates, and the development of LNG projects, such as floating LNGs (FLNGs).

Analyst Recommendations for Golar LNG (NASDAQ:GLNG)

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