Readystate Asset Management LP Lowers Stock Holdings in Venture Global, Inc. $VG

Readystate Asset Management LP cut its holdings in Venture Global, Inc. (NYSE:VGFree Report) by 81.3% in the 1st quarter, according to its most recent 13F filing with the SEC. The fund owned 414,550 shares of the company’s stock after selling 1,801,812 shares during the period. Readystate Asset Management LP’s holdings in Venture Global were worth $6,533,000 at the end of the most recent reporting period.

Several other hedge funds have also made changes to their positions in VG. Northwestern Mutual Wealth Management Co. acquired a new position in Venture Global in the second quarter valued at $26,000. Blue Trust Inc. boosted its stake in Venture Global by 1,750.0% in the 4th quarter. Blue Trust Inc. now owns 3,700 shares of the company’s stock worth $25,000 after buying an additional 3,500 shares during the last quarter. Harbour Investments Inc. purchased a new stake in Venture Global in the 4th quarter valued at about $29,000. Rockefeller Capital Management L.P. increased its stake in shares of Venture Global by 218.1% during the 4th quarter. Rockefeller Capital Management L.P. now owns 4,421 shares of the company’s stock valued at $30,000 after acquiring an additional 3,031 shares during the last quarter. Finally, AdvisorNet Financial Inc lifted its holdings in shares of Venture Global by 67.5% during the 1st quarter. AdvisorNet Financial Inc now owns 4,480 shares of the company’s stock worth $71,000 after acquiring an additional 1,805 shares during the period.

Insider Activity

In other news, VP Fory Musser sold 233,735 shares of Venture Global stock in a transaction that occurred on Wednesday, May 27th. The shares were sold at an average price of $12.61, for a total transaction of $2,947,398.35. The transaction was disclosed in a document filed with the SEC, which is accessible through this link. Also, CFO Jonathan W. Thayer sold 111,111 shares of the company’s stock in a transaction on Monday, July 20th. The shares were sold at an average price of $14.21, for a total transaction of $1,578,887.31. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold 4,459,399 shares of company stock worth $58,670,384 over the last three months. Insiders own 84.24% of the company’s stock.

Analysts Set New Price Targets

VG has been the subject of a number of recent analyst reports. Morgan Stanley boosted their target price on shares of Venture Global from $20.00 to $22.00 and gave the company an “overweight” rating in a report on Wednesday, May 13th. Raymond James Financial reissued an “outperform” rating and set a $16.00 price objective on shares of Venture Global in a research note on Wednesday, May 20th. Weiss Ratings downgraded Venture Global from a “hold (c)” rating to a “hold (c-)” rating in a report on Monday, July 20th. US Capital Advisors set a $13.00 target price on Venture Global in a research report on Friday, May 29th. Finally, Royal Bank Of Canada lifted their target price on Venture Global from $14.00 to $16.00 and gave the company an “outperform” rating in a report on Friday, April 17th. One equities research analyst has rated the stock with a Strong Buy rating, nine have assigned a Buy rating and eight have assigned a Hold rating to the stock. Based on data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average price target of $16.06.

Check Out Our Latest Stock Analysis on VG

Venture Global Stock Performance

Shares of VG stock opened at $12.18 on Wednesday. The company has a current ratio of 0.87, a quick ratio of 0.80 and a debt-to-equity ratio of 3.40. The company has a market cap of $30.25 billion, a PE ratio of 13.53, a P/E/G ratio of 0.52 and a beta of 0.33. The company’s fifty day simple moving average is $12.45 and its 200-day simple moving average is $11.96. Venture Global, Inc. has a 52 week low of $5.72 and a 52 week high of $17.62.

Venture Global (NYSE:VGGet Free Report) last issued its quarterly earnings data on Monday, May 11th. The company reported $0.19 EPS for the quarter, topping analysts’ consensus estimates of $0.12 by $0.07. Venture Global had a return on equity of 26.90% and a net margin of 16.94%.The company had revenue of $4.60 billion for the quarter. The business’s revenue was up 58.9% compared to the same quarter last year. As a group, equities research analysts anticipate that Venture Global, Inc. will post 1.46 EPS for the current year.

Venture Global Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Tuesday, June 30th. Shareholders of record on Monday, June 15th were issued a $0.018 dividend. This represents a $0.07 dividend on an annualized basis and a yield of 0.6%. The ex-dividend date was Monday, June 15th. Venture Global’s dividend payout ratio is currently 7.78%.

About Venture Global

(Free Report)

Venture Global (NYSE: VG) is a Houston-based energy company that develops, constructs and operates large-scale liquefied natural gas (LNG) export facilities in the United States. The company focuses on converting domestically produced natural gas into LNG for shipment to international markets, positioning itself as a supplier of pipeline-quality gas in vessel-ready form for global customers.

Venture Global’s core activities include site development, engineering and construction of liquefaction and export terminals, commissioning and ongoing operations of those facilities, and commercial marketing of LNG under both long-term and short-term contracts.

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Institutional Ownership by Quarter for Venture Global (NYSE:VG)

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