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GLNG

Golar LNG

$20.46

1.38 (7.23%)

08:42
05/22/19
05/22
08:42
05/22/19
08:42

Golar LNG to pursue spinoff of Trifuel Diesel Electric LNG carrier business

Golar LNG announced yesterday that its board decided to proceed with a spinoff of the company's Trifuel Diesel Electric LNG carrier business, subject to satisfactory market conditions, and to focus the company's future activities primarily around FLNG and downstream assets. This will allow LNG shipping investors more direct exposure to the LNG shipping market and reposition Golar's core business toward LNG infrastructure on long-term contracts, the company said. Golar LNG added: "The board of directors is pleased with the work done to date in underpinning the business with key projects. The board is however humble to the fact that these achievements have not yet been positively reflected in the company's share price. We believe that separation of the company's assets into two entities will better position both companies. A stock price that reflects the true strategic and contracted value of the underlying assets is a key condition to be able to grow a company. After a period of rapid expansion and significant capital investment to build the foundation, it is time to reap the $10.3B gross contract earnings backlog and implement stronger capital discipline with full focus on ROI. We see substantial potential for cash flow improvement through increased utilization of existing assets. In repositioning Golar as a solid long-term cashflow business from projects that create large cost and environmental benefits for our customers the company expects to materially broaden investor interest. With an LNG growth rate of approximately 10% pa, a gross contract earnings backlog of $10.3B, strong growth in contracted earnings, a well-financed balance sheet, a unique market leading position in FLNG, integrated power projects and a solid pipeline of opportunities, the board is increasingly optimistic about the future."

GLNG Golar LNG
$20.46

1.38 (7.23%)

12/21/18
EVER
12/21/18
NO CHANGE
Target $42
EVER
Outperform
Golar LNG Tortue project worth $10 per share to equity, says Evercore ISI
After Kosmos Energy (KOS) and BP (BP), the equity owners in the Greater Tortue Ahmeyim project offshore Senegal and Mauritania, announced Final Investment Decision on Phase 1, which will utilize one of Golar LNG's (GLNG) FLNG vessels, Evercore ISI analyst Jonathan Chappell said he continues to estimate a nearly $10/share value to Golar LNG equity based on the expected output, start-up time, and financing. Stating that Tortue means "an awful lot" for Golar LNG, he reiterated his Outperform rating on the stock and trimmed his target to $42 from $43.
02/08/19
SCOT
02/08/19
INITIATION
Target $34
SCOT
Outperform
Golar LNG initiated with an Outperform at Scotiabank
Scotiabank analyst Alonso Guerra-Garcia initiated Golar LNG with an Outperform and $34 price target.
02/26/19
JEFF
02/26/19
NO CHANGE
Target $40
JEFF
Buy
Golar LNG expected to report Q4 EBITDA well above Street at Jefferies
Jefferies analyst Randy Giveans expects Golar LNG to report Q4 EBITDA of $130M, well ahead of Street consensus of $95M, due to the company's vessels in the Cool Pool achieving TCE rates of ~$100,000 per day. The analyst also expects Golar to provide updates on its FLNG and Golar Power projects. He keeps a Buy rating on the shares with a $40 price target.
05/13/19
JEFF
05/13/19
NO CHANGE
Target $35
JEFF
Buy
Jefferies says go long Golar LNG with stock at three-year low
Jefferies analyst Randy Giveans tells investors to go long shares of Golar LNG following the stock's recent underperformance. Golar LNG is trading at a three-year low despite positive news, an attractive industry outlook, and affirmative management guidance regarding new projects, Giveans tells investors in a research note. He believes the shares are trading at a price that does not reflect the true value of Golar LNG based on his sum-of-the-parts valuation. The analyst keeps a Buy rating on the shares with a $35 price target.

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