Venture Global (NYSE:VG) Stock Price Down 5.7% – Here’s Why

Venture Global, Inc. (NYSE:VG) traded down 5.7% during trading on Monday . The stock traded as low as $6.80 and last traded at $6.8350. 2,088,071 shares were traded during mid-day trading, a decline of 73% from the average session volume of 7,789,376 shares. The stock had previously closed at $7.25.

Wall Street Analyst Weigh In

Several equities research analysts have recently commented on VG shares. Scotiabank dropped their target price on shares of Venture Global from $13.00 to $12.00 and set a “sector perform” rating for the company in a research report on Thursday, November 13th. Citigroup decreased their price target on shares of Venture Global from $16.00 to $9.00 and set a “neutral” rating for the company in a research note on Monday. The Goldman Sachs Group reaffirmed a “buy” rating and set a $17.50 price objective on shares of Venture Global in a research report on Monday, November 10th. Weiss Ratings reissued a “sell (d+)” rating on shares of Venture Global in a research report on Thursday, November 20th. Finally, JPMorgan Chase & Co. dropped their price target on Venture Global from $16.00 to $10.00 and set an “overweight” rating on the stock in a research report on Wednesday. Eight equities research analysts have rated the stock with a Buy rating, seven have issued a Hold rating and one has issued a Sell rating to the stock. Based on data from MarketBeat, the stock currently has an average rating of “Hold” and an average price target of $15.00.

Venture Global Price Performance

The company has a current ratio of 0.83, a quick ratio of 0.77 and a debt-to-equity ratio of 3.46. The company has a market cap of $17.42 billion and a PE ratio of 9.12. The firm has a 50 day moving average of $10.32 and a two-hundred day moving average of $12.82.

Venture Global (NYSE:VG) last announced its quarterly earnings data on Monday, November 10th. The company reported $0.16 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates 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 analysts’ expectations of $3.23 billion. The company’s revenue for the quarter was up 259.5% compared to the same quarter last year. Research analysts predict that Venture Global, Inc. will post 0.52 earnings per share for the current fiscal year.

Venture Global Increases Dividend

The company also recently declared a half year 25 dividend, which was paid on Tuesday, September 30th. Investors of record on Friday, September 19th were paid a $0.017 dividend. This represents a yield of 50.0%. The ex-dividend date was Friday, September 19th. This is a positive change from Venture Global’s previous half year 25 dividend of $0.02. Venture Global’s dividend payout ratio (DPR) is presently 8.97%.

Insider Transactions at Venture Global

In related news, insider Thomas Earl sold 840,076 shares of the stock in a transaction dated Thursday, September 11th. The shares were sold at an average price of $13.74, for a total transaction of $11,542,644.24. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, VP Fory Musser sold 776,298 shares of the firm’s stock in a transaction dated Monday, November 17th. The shares were sold at an average price of $8.06, for a total transaction of $6,256,961.88. The disclosure for this sale is available in the SEC filing. In the last quarter, insiders sold 3,500,000 shares of company stock worth $36,575,740. 86.73% of the stock is currently owned by company insiders.

Institutional Trading of Venture Global

Institutional investors have recently made changes to their positions in the stock. Second Line Capital LLC purchased a new position in shares of Venture Global during the third quarter valued at approximately $152,000. Adalta Capital Management LLC boosted its holdings in Venture Global by 180.9% in the third quarter. Adalta Capital Management LLC now owns 16,575 shares of the company’s stock worth $235,000 after purchasing an additional 10,675 shares during the last quarter. Williams Jones Wealth Management LLC. bought a new stake in Venture Global in the 3rd quarter worth approximately $220,000. PharVision Advisers LLC purchased a new stake in Venture Global during the 3rd quarter valued at $182,000. Finally, Dark Forest Capital Management LP lifted its holdings in shares of Venture Global by 155.6% during the 3rd quarter. Dark Forest Capital Management LP now owns 228,119 shares of the company’s stock valued at $3,237,000 after buying an additional 138,879 shares during the period.

About Venture Global

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.