Golar LNG (GLNG, $29.15) Reports Encouraging Q3 Numbers as Shipping Market Improves
Liquefied natural gas shipper Golar LNG Limited reported improved revenue, EBITDA and net income for the quarter on the back of a resurgent shipping market.
The company reported that its fleet utilization in Q3 increased to 86% from 62% in Q1, resulting in its daily time charter equivalent earnings rising from $19,600 in Q1 to $41,200 in Q3.
Total operating revenues for the quarter net of expenses increased from $42.9 million in Q2 to $98.4 million in Q3. Total operating vessel expenses increased $8.4 million to $28.9 million in Q3, largely owing to the increased operation time for Hilli, the cost of which is slightly higher than expected average operating costs for this vessel, however.
Further impetus was provided by rising oil prices, which enabled the company to take in additional annual operating cash flows of approximately $3 million for every dollar increase in Brent crude prices. In addition to the approximately $51 million of tolling fee revenue, it also earned $11.3 million of Brent-linked revenue.
GLNG in downward trend: price expected to drop as it breaks its higher Bollinger Band on April 03, 2024
GLNG broke above its upper Bollinger Band on April 03, 2024. This could be a sign that the stock is set to drop as the stock moves back below the upper band and toward the middle band. You may want to consider selling the stock or exploring put options. The A.I.dvisor looked at 40 similar instances where the stock broke above the upper band. In of the 40 cases the stock fell afterwards. This puts the odds of success at .
Technical Analysis (Indicators)
Bearish Trend Analysis
The 10-day RSI Indicator for GLNG moved out of overbought territory on April 12, 2024. This could be a bearish sign for the stock. Traders may want to consider selling the stock or buying put options. Tickeron's A.I.dvisor looked at 27 similar instances where the indicator moved out of overbought territory. In of the 27 cases, the stock moved lower in the following days. This puts the odds of a move lower at .
The Stochastic Oscillator may be shifting from an upward trend to a downward trend. In of 66 cases where GLNG's Stochastic Oscillator exited the overbought zone, the price fell further within the following month. The odds of a continued downward trend are .
The Momentum Indicator moved below the 0 level on April 24, 2024. You may want to consider selling the stock, shorting the stock, or exploring put options on GLNG as a result. In of 94 cases where the Momentum Indicator fell below 0, the stock fell further within the subsequent month. The odds of a continued downward trend are .
The Moving Average Convergence Divergence Histogram (MACD) for GLNG turned negative on April 12, 2024. This could be a sign that the stock is set to turn lower in the coming weeks. Traders may want to sell the stock or buy put options. Tickeron's A.I.dvisor looked at 40 similar instances when the indicator turned negative. In of the 40 cases the stock turned lower in the days that followed. This puts the odds of success at .
Following a 3-day decline, the stock is projected to fall further. Considering past instances where GLNG declined for three days, the price rose further in of 62 cases within the following month. The odds of a continued downward trend are .
Bullish Trend Analysis
The 50-day moving average for GLNG moved above the 200-day moving average on April 02, 2024. This could be a long-term bullish signal for the stock as the stock shifts to an upward trend.
Following a 3-day Advance, the price is estimated to grow further. Considering data from situations where GLNG advanced for three days, in of 295 cases, the price rose further within the following month. The odds of a continued upward trend are .
The Aroon Indicator entered an Uptrend today. In of 183 cases where GLNG Aroon's Indicator entered an Uptrend, the price rose further within the following month. The odds of a continued Uptrend are .
Fundamental Analysis (Ratings)
The Tickeron PE Growth Rating for this company is (best 1 - 100 worst), pointing to outstanding earnings growth. The PE Growth rating is based on a comparative analysis of stock PE ratio increase over the last 12 months compared against S&P 500 index constituents.
The Tickeron Seasonality Score of (best 1 - 100 worst) indicates that the company is slightly undervalued in the industry. The Tickeron Seasonality score describes the variance of predictable price changes around the same period every calendar year. These changes can be tied to a specific month, quarter, holiday or vacation period, as well as a meteorological or growing season.
The Tickeron Valuation Rating for company is (best 1 - 100 worst), which means the company is slightly undervalued. The valuation of the company is based on a proprietary formula which takes into account a set of fundamentals and gives us an estimate of the price per share for the company. We then compare this estimate with the current price per share. As a result, this company is rated as undervalued in the industry. This rating is based on the following metrics, as compared to industry averages: P/B Ratio (1.220) is normal, around the industry mean (44.070). GLNG has a moderately high P/E Ratio (47.176) as compared to the industry average of (16.201). Projected Growth (PEG Ratio) (0.000) is also within normal values, averaging (2.696). Dividend Yield (0.041) settles around the average of (0.064) among similar stocks. GLNG's P/S Ratio (8.621) is slightly higher than the industry average of (2.923).
The Tickeron Price Growth Rating for this company is (best 1 - 100 worst), indicating steady price growth. GLNG’s price grows at a higher rate over the last 12 months as compared to S&P 500 index constituents.
The Tickeron Profit vs. Risk Rating rating for this company is (best 1 - 100 worst), indicating well-balanced risk and returns. The average Profit vs. Risk Rating rating for the industry is 57, placing this stock slightly worse than average.
The Tickeron SMR rating for this company is (best 1 - 100 worst), indicating weak sales and an unprofitable business model. SMR (Sales, Margin, Return on Equity) rating is based on comparative analysis of weighted Sales, Income Margin and Return on Equity values compared against S&P 500 index constituents. The weighted SMR value is a proprietary formula developed by Tickeron and represents an overall profitability measure for a stock.
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General Information
a company which engages in transportation, regasification and liquefaction and trading of liquefied natural gas
Industry OilGasPipelines