Golar LNG (NASDAQ:GLNG) Lowered to “Hold” Rating by DNB Markets

Golar LNG (NASDAQ:GLNG) was downgraded by research analysts at DNB Markets from a “buy” rating to a “hold” rating in a report issued on Wednesday, MarketBeat Ratings reports.

A number of other brokerages have also issued reports on GLNG. StockNews.com upgraded shares of Golar LNG to a “sell” rating in a research report on Monday, December 9th. Fearnley Fonds cut shares of Golar LNG from a “strong-buy” rating to a “hold” rating in a research report on Wednesday, November 13th. Finally, Stifel Nicolaus increased their price objective on Golar LNG from $53.00 to $55.00 and gave the company a “buy” rating in a research report on Tuesday, December 24th. One investment analyst has rated the stock with a sell rating, two have given a hold rating and four have given a buy rating to the company’s stock. According to MarketBeat.com, the company currently has an average rating of “Hold” and an average price target of $50.13.

Golar LNG Stock Performance

Shares of GLNG stock opened at $40.84 on Wednesday. Golar LNG has a 52 week low of $19.94 and a 52 week high of $44.36. The stock has a market capitalization of $4.26 billion, a PE ratio of 291.74 and a beta of 0.55. The stock’s fifty day moving average is $41.53 and its 200-day moving average is $37.92.

Hedge Funds Weigh In On Golar LNG

Several large investors have recently bought and sold shares of GLNG. Barclays PLC raised its position in shares of Golar LNG by 431.3% during the 3rd quarter. Barclays PLC now owns 185,018 shares of the shipping company’s stock valued at $6,802,000 after acquiring an additional 150,195 shares during the last quarter. De Lisle Partners LLP grew its stake in shares of Golar LNG by 9.1% during the third quarter. De Lisle Partners LLP now owns 249,390 shares of the shipping company’s stock worth $9,169,000 after purchasing an additional 20,890 shares during the period. Healthcare of Ontario Pension Plan Trust Fund increased its holdings in Golar LNG by 467.9% in the third quarter. Healthcare of Ontario Pension Plan Trust Fund now owns 2,237,000 shares of the shipping company’s stock valued at $82,232,000 after purchasing an additional 1,843,100 shares during the last quarter. JPMorgan Chase & Co. lifted its stake in Golar LNG by 37.0% in the third quarter. JPMorgan Chase & Co. now owns 218,971 shares of the shipping company’s stock valued at $8,049,000 after buying an additional 59,188 shares during the period. Finally, Royce & Associates LP boosted its holdings in Golar LNG by 102.5% during the third quarter. Royce & Associates LP now owns 81,000 shares of the shipping company’s stock worth $2,978,000 after buying an additional 41,000 shares during the last quarter. 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.