Golar LNG (NASDAQ:GLNG) Shares Gap Down to $25.39

Golar LNG Limited (NASDAQ:GLNGGet Rating)’s stock price gapped down before the market opened on Friday . The stock had previously closed at $25.39, but opened at $23.98. Golar LNG shares last traded at $22.99, with a volume of 24,074 shares changing hands.

Wall Street Analysts Forecast Growth

GLNG has been the topic of a number of research reports. StockNews.com upgraded shares of Golar LNG from a “sell” rating to a “hold” rating in a report on Tuesday, June 7th. B. Riley upped their price target on Golar LNG from $33.50 to $35.50 and gave the company a “buy” rating in a report on Tuesday, September 6th. Finally, Clarkson Capital reissued a “buy” rating on shares of Golar LNG in a research note on Tuesday, June 14th. Two investment analysts have rated the stock with a hold rating and four have given a buy rating to the stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average target price of $26.75.

Golar LNG Price Performance

The stock’s fifty day moving average price is $25.69 and its 200-day moving average price is $23.97. The company has a debt-to-equity ratio of 0.38, a current ratio of 2.51 and a quick ratio of 2.51. The firm has a market cap of $2.52 billion, a price-to-earnings ratio of 5.05 and a beta of 0.61.

Institutional Trading of Golar LNG

Several large investors have recently added to or reduced their stakes in the company. Rubric Capital Management LP lifted its position in shares of Golar LNG by 19.9% in the fourth quarter. Rubric Capital Management LP now owns 6,800,187 shares of the shipping company’s stock worth $84,254,000 after purchasing an additional 1,129,318 shares in the last quarter. FMR LLC lifted its position in Golar LNG by 11.5% in the 2nd quarter. FMR LLC now owns 4,573,821 shares of the shipping company’s stock worth $104,054,000 after buying an additional 470,416 shares in the last quarter. Goldman Sachs Group Inc. boosted its stake in shares of Golar LNG by 324.9% during the 2nd quarter. Goldman Sachs Group Inc. now owns 2,582,678 shares of the shipping company’s stock valued at $58,756,000 after buying an additional 1,974,914 shares during the period. Driehaus Capital Management LLC boosted its stake in shares of Golar LNG by 27.2% during the 2nd quarter. Driehaus Capital Management LLC now owns 1,791,494 shares of the shipping company’s stock valued at $40,756,000 after buying an additional 382,533 shares during the period. Finally, State Street Corp grew its holdings in shares of Golar LNG by 4.1% during the 2nd quarter. State Street Corp now owns 1,616,286 shares of the shipping company’s stock valued at $36,771,000 after acquiring an additional 64,180 shares in the last quarter. 70.93% of the stock is owned by institutional investors and hedge funds.

About Golar LNG

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Golar LNG Limited designs, builds, owns, and operates marine infrastructure for the liquefaction and regasification of LNG. It operates through Shipping and FLNG segments. The company engages in the operation and chartering of LNG carriers, Floating Liquefaction Natural Gas Vessel (FLNG), and floating storage regasification units (FSRUs), as well as operates external vessels.

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