Golar LNG Ltd. GLNG was a big mover last session, as its shares rose almost 7% on the day. The move came on the back of the company's announcement that it would be forming a joint venture with Schlumberger to develop offshore natural-gas fields with Golar's floating LNG production vessels. This led to far more shares changing hands than in a normal session. This breaks the recent trend of the company, as the stock is now trading above the volatile price range of $14.56 to $17.38 in the past one-month time frame.
None of the estimates for this stock were revised over the past 30 days. The Zacks Consensus Estimate also remained unchanged over the same time frame. Yesterday's price action is encouraging though, so make sure to keep a close watch on this firm in the near future.
Golar LNG currently carries a Zacks Rank #3 (Hold) while its Earnings ESP is 0.00%.
A better-ranked stock in the shipping industry is Danaos Corporation DAC which sports a Zacks Rank #1 (Strong Buy).
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