Brokerages Set Golar LNG Limited (NASDAQ:GLNG) Target Price at $32.50

Golar LNG Limited (NASDAQ:GLNG – Get Rating) has received a consensus rating of “Moderate Buy” from the seven brokerages that are presently covering the company, MarketBeat Ratings reports. One research analyst has rated the stock with a hold rating and five have issued a buy rating on the company. The average 12 month price objective among brokerages that have issued ratings on the stock in the last year is $32.50.

Separately, StockNews.com started coverage on Golar LNG in a research report on Thursday. They issued a “hold” rating for the company.

Institutional Investors Weigh In On Golar LNG

Several hedge funds have recently made changes to their positions in GLNG. IFP Advisors Inc raised its stake in Golar LNG by 94.6% during the 3rd quarter. IFP Advisors Inc now owns 2,269 shares of the shipping company’s stock valued at $100,000 after acquiring an additional 1,103 shares during the last quarter. Atlas Capital Advisors LLC acquired a new stake in shares of Golar LNG during the third quarter worth $31,000. Ellevest Inc. grew its position in Golar LNG by 88.6% in the 3rd quarter. Ellevest Inc. now owns 5,606 shares of the shipping company’s stock valued at $140,000 after buying an additional 2,634 shares during the last quarter. Brown Advisory Inc. increased its stake in Golar LNG by 16.5% in the 2nd quarter. Brown Advisory Inc. now owns 10,364 shares of the shipping company’s stock valued at $236,000 after buying an additional 1,467 shares during the period. Finally, USA Financial Portformulas Corp raised its position in Golar LNG by 12.2% during the 3rd quarter. USA Financial Portformulas Corp now owns 9,830 shares of the shipping company’s stock worth $245,000 after buying an additional 1,069 shares during the last quarter. Institutional investors and hedge funds own 72.45% of the company’s stock.

Golar LNG Stock Performance

NASDAQ GLNG opened at $20.27 on Thursday. The company has a fifty day moving average of $22.75 and a two-hundred day moving average of $24.30. The company has a market capitalization of $2.19 billion, a PE ratio of 3.03 and a beta of 0.67. Golar LNG has a 1 year low of $19.07 and a 1 year high of $30.66. The company has a debt-to-equity ratio of 0.35, a current ratio of 2.57 and a quick ratio of 2.57.

Golar LNG Company Profile

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Golar LNG Ltd. owns and operates liquefied natural gas carriers, floating storage, and regasification unit. It operates through the following segments: Vessel Operations, FLNG, and Power. The Vessel Operations segment operates and charter out vessels on fixed terms to customers. The FLNG segment provides integrated upstream and midstream solution for the development of gas reserves to LNG.