Venture Global (NYSE:VG – Get Free Report) was downgraded by equities research analysts at Zacks Research from a “strong-buy” rating to a “hold” rating in a research note issued on Wednesday,Zacks.com reports.
A number of other brokerages have also issued reports on VG. US Capital Advisors set a $13.00 price target on Venture Global in a research note on Friday, May 29th. The Goldman Sachs Group set a $18.00 price objective on Venture Global in a research note on Thursday, May 14th. Scotiabank lifted their target price on shares of Venture Global from $13.00 to $15.00 and gave the stock a “sector perform” rating in a research note on Wednesday, May 13th. Raymond James Financial reaffirmed an “outperform” rating and set a $16.00 target price on shares of Venture Global in a research note on Wednesday, May 20th. Finally, Wells Fargo & Company increased their target price on shares of Venture Global from $14.00 to $15.00 and gave the company an “equal weight” rating in a research report on Wednesday. Nine equities research analysts have rated the stock with a Buy rating and nine have issued a Hold rating to the company’s stock. Based on data from MarketBeat, the company currently has an average rating of “Moderate Buy” and an average target price of $16.12.
Venture Global Trading Down 1.3%
Venture Global (NYSE:VG – Get Free Report) last posted its quarterly earnings data on Monday, August 10th. The company reported $0.51 EPS for the quarter, topping the consensus estimate of $0.50 by $0.01. Venture Global had a return on equity of 35.79% and a net margin of 21.24%.The company had revenue of $4.58 billion during the quarter. On average, sell-side analysts predict that Venture Global will post 1.53 EPS for the current fiscal year.
Insider Buying and Selling
In related news, CFO Jonathan W. Thayer sold 111,111 shares of Venture Global stock in a transaction that occurred on Monday, July 20th. The stock was sold at an average price of $14.21, for a total transaction of $1,578,887.31. The sale was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, COO Brian Cothran sold 31,910 shares of the business’s stock in a transaction on Thursday, May 21st. The stock was sold at an average price of $14.33, for a total value of $457,270.30. The disclosure for this sale is available in the SEC filing. Insiders sold a total of 2,459,399 shares of company stock worth $32,490,384 in the last three months. Company insiders own 84.24% of the company’s stock.
Institutional Investors Weigh In On Venture Global
Hedge funds have recently modified their holdings of the company. Bank of New York Mellon Corp acquired a new stake in Venture Global during the second quarter worth about $14,230,000. Corecam AG purchased a new position in Venture Global during the second quarter worth about $2,401,000. Fort Washington Investment Advisors Inc. OH acquired a new position in Venture Global in the 2nd quarter valued at about $1,446,000. Farther Finance Advisors LLC boosted its holdings in Venture Global by 1,876.8% in the 2nd quarter. Farther Finance Advisors LLC now owns 109,484 shares of the company’s stock valued at $1,219,000 after purchasing an additional 115,646 shares during the last quarter. Finally, Seelaus Asset Management LLC purchased a new stake in shares of Venture Global in the 2nd quarter valued at approximately $273,000.
Venture Global Company Profile
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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