JPMorgan Chase & Co. Lowers Venture Global (NYSE:VG) Price Target to $10.00

Venture Global (NYSE:VG) had its target price decreased by equities research analysts at JPMorgan Chase & Co. from $16.00 to $10.00 in a research note issued on Wednesday,Benzinga reports. The firm currently has an “overweight” rating on the stock. JPMorgan Chase & Co.‘s target price points to a potential upside of 40.77% from the company’s previous close.

Several other research firms have also recently commented on VG. Tudor Pickering raised Venture Global to a “hold” rating in a research note on Tuesday, September 2nd. Wells Fargo & Company dropped their target price on shares of Venture Global from $14.00 to $11.00 and set an “equal weight” rating on the stock in a report on Wednesday, November 12th. Capital One Financial assumed coverage on shares of Venture Global in a report on Tuesday, November 4th. They issued an “equal weight” rating and a $11.00 price target for the company. Deutsche Bank Aktiengesellschaft upgraded shares of Venture Global from a “hold” rating to a “buy” rating and set a $17.00 price objective on the stock in a report on Thursday, August 28th. Finally, Weiss Ratings reaffirmed a “sell (d+)” rating on shares of Venture Global in a research report on Thursday, November 20th. Eight investment analysts have rated the stock with a Buy rating, seven have given a Hold rating and one has given a Sell rating to the company’s stock. According to MarketBeat.com, the stock presently has an average rating of “Hold” and an average price target of $15.00.

Venture Global Stock Performance

VG stock traded up $0.21 during mid-day trading on Wednesday, reaching $7.10. 2,663,924 shares of the stock traded hands, compared to its average volume of 7,823,331. The firm has a market capitalization of $17.39 billion and a PE ratio of 9.11. The business has a 50-day moving average of $10.32 and a two-hundred day moving average of $12.82. Venture Global has a 52 week low of $6.72 and a 52 week high of $25.50. The company has a quick ratio of 0.77, a current ratio of 0.83 and a debt-to-equity ratio of 3.46.

Venture Global (NYSE:VG) last released its earnings results on Monday, November 10th. The company reported $0.16 EPS for the quarter, missing the consensus estimate of $0.22 by ($0.06). Venture Global had a net margin of 21.99% and a return on equity of 29.55%. The company had revenue of $3.33 billion for the quarter, compared to analyst estimates of $3.23 billion. The company’s quarterly revenue was up 259.5% on a year-over-year basis. As a group, equities analysts predict that Venture Global will post 0.52 EPS for the current fiscal year.

Insider Buying and Selling at Venture Global

In related news, insider Thomas Earl sold 500,000 shares of Venture Global stock in a transaction dated Monday, September 15th. The shares were sold at an average price of $13.69, for a total transaction of $6,845,000.00. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, VP Fory Musser sold 42,901 shares of the stock in a transaction dated Thursday, November 20th. The shares were sold at an average price of $7.80, for a total transaction of $334,627.80. The disclosure for this sale is available in the SEC filing. Insiders have sold a total of 3,500,000 shares of company stock valued at $36,575,740 in the last ninety days. Insiders own 86.73% of the company’s stock.

Hedge Funds Weigh In On Venture Global

A number of large investors have recently made changes to their positions in VG. Northwestern Mutual Wealth Management Co. bought a new stake in Venture Global in the 2nd quarter valued at $26,000. AdvisorNet Financial Inc acquired a new stake in Venture Global in the 2nd quarter worth about $28,000. MAI Capital Management acquired a new stake in Venture Global in the 3rd quarter worth about $29,000. Delos Wealth Advisors LLC bought a new stake in Venture Global in the 2nd quarter valued at about $45,000. Finally, UMB Bank n.a. grew its position in shares of Venture Global by 161.2% during the 3rd quarter. UMB Bank n.a. now owns 2,949 shares of the company’s stock worth $42,000 after purchasing an additional 1,820 shares in the last quarter.

Venture Global Company Profile

Venture Global has fundamentally reshaped the development and construction of liquefied natural gas production, establishing us as a rapidly growing company delivering critical LNG to the world. Our innovative and disruptive approach, which is both scalable and repeatable, allows us to bring LNG to a global market years faster and at a lower cost.