Morgan Stanley Increases Golar LNG (GLNG) Price Target to $35.00

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Golar LNG (NASDAQ:GLNG) had its price objective raised by research analysts at Morgan Stanley from $32.00 to $35.00 in a research report issued on Tuesday. The firm currently has a “buy” rating on the shipping company’s stock. Morgan Stanley’s price objective indicates a potential upside of 17.77% from the stock’s previous close.

GLNG has been the subject of several other research reports. Zacks Investment Research downgraded Golar LNG from a “hold” rating to a “sell” rating in a research report on Tuesday, August 14th. BidaskClub upgraded Golar LNG from a “buy” rating to a “strong-buy” rating in a research report on Saturday. Jefferies Financial Group set a $40.00 target price on Golar LNG and gave the stock a “buy” rating in a research report on Wednesday, August 22nd. Deutsche Bank initiated coverage on Golar LNG in a research report on Wednesday, October 10th. They set a “buy” rating and a $36.00 target price for the company. Finally, Berenberg Bank initiated coverage on Golar LNG in a research report on Thursday, September 6th. They set a “buy” rating and a $32.00 target price for the company. One analyst has rated the stock with a hold rating, eleven have assigned a buy rating and one has issued a strong buy rating to the stock. Golar LNG has an average rating of “Buy” and a consensus price target of $36.70.

Golar LNG stock opened at $29.72 on Tuesday. The company has a quick ratio of 0.62, a current ratio of 0.62 and a debt-to-equity ratio of 1.01. The company has a market cap of $2.90 billion, a P/E ratio of -20.22 and a beta of 0.60. Golar LNG has a one year low of $22.45 and a one year high of $35.54.

Golar LNG (NASDAQ:GLNG) last posted its earnings results on Monday, November 5th. The shipping company reported ($0.45) EPS for the quarter, missing the Thomson Reuters’ consensus estimate of ($0.11) by ($0.34). Golar LNG had a negative return on equity of 6.37% and a negative net margin of 11.47%. On average, equities research analysts forecast that Golar LNG will post -1.11 EPS for the current fiscal year.

Several hedge funds and other institutional investors have recently added to or reduced their stakes in GLNG. Mount Yale Investment Advisors LLC acquired a new stake in shares of Golar LNG in the 2nd quarter valued at $106,000. Nisa Investment Advisors LLC increased its stake in shares of Golar LNG by 884.2% in the 2nd quarter. Nisa Investment Advisors LLC now owns 4,675 shares of the shipping company’s stock valued at $138,000 after buying an additional 4,200 shares during the period. Sei Investments Co. increased its stake in shares of Golar LNG by 104.5% in the 2nd quarter. Sei Investments Co. now owns 5,326 shares of the shipping company’s stock valued at $156,000 after buying an additional 2,721 shares during the period. Russell Investments Group Ltd. acquired a new stake in shares of Golar LNG in the 1st quarter valued at $172,000. Finally, Cerebellum GP LLC acquired a new stake in shares of Golar LNG in the 3rd quarter valued at $192,000. 82.31% of the stock is owned by institutional investors.

About Golar LNG

Golar LNG Limited, a midstream liquefied natural gas (LNG) company, engages in the transportation, regasification, and liquefaction of LNG. It operates through three segments: Vessel operations, Floating Liquefaction Natural Gas Vessel (FLNG), and Power. The company engages in the acquisition, ownership, operation, and chartering of LNG carriers and floating storage regasification units (FSRUs); and the development of LNG projects.

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Analyst Recommendations for Golar LNG (NASDAQ:GLNG)

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