Trading Report: Today, Seaport Global Securities Reiterates “Buy” Rating for Golar LNG Ltd. (GLNG)

Today, Seaport Global Securities Reiterates “Buy” Rating for Golar LNG Ltd. (GLNG)

Golar LNG Ltd. (NASDAQ:GLNG)‘s stock had its “buy” rating reiterated by investment analysts at Seaport Global Securities in a note issued to investors on Wednesday. They presently have a $35.00 price objective on the stock. Seaport Global Securities’ target price would indicate a potential upside of 37.15% from the stock’s previous close.

GLNG has been the topic of several other research reports. Jefferies Group restated a “buy” rating on shares of Golar LNG in a report on Monday, September 12th. Bank of America Corp. upgraded shares of Golar LNG from a “neutral” rating to a “buy” rating and set a $21.00 price target on the stock in a report on Monday, August 1st. Cowen and Company dropped their price objective on shares of Golar LNG from $57.00 to $45.00 and set an “outperform” rating on the stock in a research note on Thursday, October 20th. Wells Fargo & Co. reiterated a “buy” rating on shares of Golar LNG in a research note on Wednesday, October 5th. Finally, ABN Amro upgraded shares of Golar LNG from a “sell” rating to a “hold” rating in a research note on Monday, October 3rd. Three investment analysts have rated the stock with a sell rating, two have assigned a hold rating and twelve have given a buy rating to the stock. The stock currently has an average rating of “Buy” and a consensus target price of $27.78.

Shares of Golar LNG (NASDAQ:GLNG) opened at 25.52 on Wednesday. The company has a 50-day moving average of $23.18 and a 200 day moving average of $19.58. Golar LNG has a 52-week low of $9.42 and a 52-week high of $28.63. The stock’s market cap is $2.30 billion.

A number of institutional investors have recently added to or reduced their stakes in GLNG. Bank of Montreal Can acquired a new position in Golar LNG during the second quarter worth approximately $22,945,000. BlackRock Fund Advisors increased its position in Golar LNG by 181.6% in the second quarter. BlackRock Fund Advisors now owns 2,071,378 shares of the company’s stock worth $32,106,000 after buying an additional 1,335,789 shares in the last quarter. Point72 Asset Management L.P. increased its position in Golar LNG by 165.6% in the second quarter. Point72 Asset Management L.P. now owns 1,123,370 shares of the company’s stock worth $17,412,000 after buying an additional 700,429 shares in the last quarter. Cannell Peter B & Co. Inc. increased its position in Golar LNG by 88.3% in the second quarter. Cannell Peter B & Co. Inc. now owns 1,383,075 shares of the company’s stock worth $21,438,000 after buying an additional 648,675 shares in the last quarter. Finally, Northern Trust Corp increased its position in Golar LNG by 284.5% in the third quarter. Northern Trust Corp now owns 820,808 shares of the company’s stock worth $17,401,000 after buying an additional 607,329 shares in the last quarter. 88.10% of the stock is owned by hedge funds and other institutional investors.

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