Golar LNG (NASDAQ:GLNG) Downgraded by DNB Markets to Hold

Golar LNG (NASDAQ:GLNG - Get Free Report) was downgraded by stock analysts at DNB Markets from a "buy" rating to a "hold" rating in a research note issued to investors on Wednesday, Marketbeat reports.

GLNG has been the subject of a number of other reports. Stifel Nicolaus upped their price target on shares of Golar LNG from $53.00 to $55.00 and gave the company a "buy" rating in a report on Tuesday, December 24th. Fearnley Fonds lowered shares of Golar LNG from a "strong-buy" rating to a "hold" rating in a report on Wednesday, November 13th. Finally, StockNews.com upgraded shares of Golar LNG to a "sell" rating in a report on Monday, December 9th. One analyst has rated the stock with a sell rating, two have given a hold rating and four have assigned a buy rating to the company. Based on data from MarketBeat, the stock currently has an average rating of "Hold" and a consensus target price of $50.13.

Golar LNG Stock Performance

NASDAQ:GLNG traded down $1.89 during midday trading on Wednesday, reaching $38.95. 1,101,183 shares of the stock traded hands, compared to its average volume of 874,206. The company has a fifty day moving average of $41.44 and a 200 day moving average of $38.01. Golar LNG has a 12 month low of $19.94 and a 12 month high of $44.36. The stock has a market capitalization of $4.07 billion, a P/E ratio of 278.23 and a beta of 0.55.

Institutional Inflows and Outflows

Several institutional investors have recently added to or reduced their stakes in GLNG. Barclays PLC increased its stake in shares of Golar LNG by 431.3% in the 3rd quarter. Barclays PLC now owns 185,018 shares of the shipping company's stock worth $6,802,000 after acquiring an additional 150,195 shares in the last quarter. De Lisle Partners LLP increased its stake in shares of Golar LNG by 9.1% in the 3rd quarter. De Lisle Partners LLP now owns 249,390 shares of the shipping company's stock worth $9,169,000 after acquiring an additional 20,890 shares in the last quarter. Healthcare of Ontario Pension Plan Trust Fund increased its stake in shares of Golar LNG by 467.9% in the 3rd quarter. Healthcare of Ontario Pension Plan Trust Fund now owns 2,237,000 shares of the shipping company's stock worth $82,232,000 after acquiring an additional 1,843,100 shares in the last quarter. JPMorgan Chase & Co. increased its stake in shares of Golar LNG by 37.0% in the 3rd quarter. JPMorgan Chase & Co. now owns 218,971 shares of the shipping company's stock worth $8,049,000 after acquiring an additional 59,188 shares in the last quarter. Finally, Royce & Associates LP increased its stake in shares of Golar LNG by 102.5% in the 3rd quarter. Royce & Associates LP now owns 81,000 shares of the shipping company's stock worth $2,978,000 after acquiring an additional 41,000 shares in the last quarter. 92.21% of the stock is currently owned by institutional investors.

Golar LNG Company Profile

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.