Golar LNG (NASDAQ:GLNG) Downgraded to Sell at StockNews.com

Golar LNG (NASDAQ:GLNG) was downgraded by equities research analysts at StockNews.com from a “hold” rating to a “sell” rating in a research report issued on Thursday.

Golar LNG Stock Performance

Shares of NASDAQ GLNG traded down $0.16 during trading hours on Thursday, reaching $25.02. The stock had a trading volume of 961,155 shares, compared to its average volume of 1,130,252. The firm has a market cap of $2.62 billion, a price-to-earnings ratio of -58.18 and a beta of 0.61. Golar LNG has a fifty-two week low of $19.62 and a fifty-two week high of $25.90. The firm has a 50-day moving average of $23.39 and a 200-day moving average of $22.71. The company has a current ratio of 1.49, a quick ratio of 1.49 and a debt-to-equity ratio of 0.34.

Golar LNG (NASDAQ:GLNG) last posted its quarterly earnings data on Thursday, February 29th. The shipping company reported $0.90 earnings per share for the quarter, beating the consensus estimate of $0.50 by $0.40. The business had revenue of $78.65 million during the quarter, compared to the consensus estimate of $76.85 million. Golar LNG had a positive return on equity of 11.67% and a negative net margin of 15.68%. Equities research analysts predict that Golar LNG will post 1.66 earnings per share for the current year.

Hedge Funds Weigh In On Golar LNG

Institutional investors have recently added to or reduced their stakes in the stock. Hosking Partners LLP grew its stake in shares of Golar LNG by 20.1% in the 3rd quarter. Hosking Partners LLP now owns 766,339 shares of the shipping company’s stock valued at $18,591,000 after purchasing an additional 128,416 shares during the last quarter. Rubric Capital Management LP increased its stake in Golar LNG by 0.8% in the 3rd quarter. Rubric Capital Management LP now owns 6,506,757 shares of the shipping company’s stock valued at $157,854,000 after buying an additional 50,000 shares during the period. American Century Companies Inc. increased its stake in Golar LNG by 59.1% in the 3rd quarter. American Century Companies Inc. now owns 888,096 shares of the shipping company’s stock valued at $21,545,000 after buying an additional 330,059 shares during the period. Deutsche Bank AG raised its position in Golar LNG by 18.9% during the 3rd quarter. Deutsche Bank AG now owns 51,107 shares of the shipping company’s stock worth $1,240,000 after buying an additional 8,120 shares during the last quarter. Finally, Stifel Financial Corp lifted its stake in shares of Golar LNG by 79.2% in the 3rd quarter. Stifel Financial Corp now owns 396,674 shares of the shipping company’s stock worth $9,623,000 after acquiring an additional 175,348 shares during the period. Institutional investors and hedge funds own 92.21% of the company’s stock.

About Golar LNG

Golar LNG Limited designs, owns, and operates marine infrastructure for the liquefaction of natural gas. The company operates through three segments: FLNG, Corporate and Other, and Shipping. It also engages in the regasification, storage, and offloading of liquefied natural gas (LNG); operation of floating liquefaction natural gas (FLNG) vessels; operation of the transportation of LNG carriers; and vessel management.