Venture Global (NYSE:VG) Given New $12.00 Price Target at Bank of America

Venture Global (NYSE:VG) had its price objective cut by Bank of America from $14.00 to $12.00 in a report released on Tuesday morning,Benzinga reports. They currently have a buy rating on the stock.

A number of other research analysts have also weighed in on the company. Deutsche Bank Aktiengesellschaft started coverage on Venture Global in a research report on Tuesday, February 18th. They set a “buy” rating and a $19.00 price objective for the company. JPMorgan Chase & Co. cut their price target on Venture Global from $16.00 to $15.00 and set an “overweight” rating for the company in a report on Thursday, April 24th. Sanford C. Bernstein assumed coverage on Venture Global in a report on Tuesday, February 4th. They set a “market perform” rating and a $20.00 price objective on the stock. StockNews.com lowered shares of Venture Global from a “hold” rating to a “sell” rating in a report on Saturday, March 15th. Finally, Citigroup decreased their price target on shares of Venture Global from $18.00 to $11.00 and set a “neutral” rating on the stock in a research note on Tuesday, March 11th. One analyst has rated the stock with a sell rating, four have assigned a hold rating and eight have assigned a buy rating to the stock. According to data from MarketBeat, Venture Global currently has a consensus rating of “Moderate Buy” and a consensus target price of $16.25.

Venture Global Stock Performance

Shares of VG opened at $8.60 on Tuesday. Venture Global has a 12-month low of $6.75 and a 12-month high of $25.50. The company’s 50 day simple moving average is $10.32.

Venture Global (NYSE:VG) last released its earnings results on Thursday, March 6th. The company reported $0.33 EPS for the quarter, topping the consensus estimate of $0.30 by $0.03. The company had revenue of $1.52 billion during the quarter. On average, equities analysts expect that Venture Global will post 0.52 EPS for the current year.

Venture Global Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Monday, March 31st. Investors of record on Monday, March 10th were paid a dividend of $0.0165 per share. The ex-dividend date of this dividend was Monday, March 10th. This represents a $0.07 dividend on an annualized basis and a dividend yield of 0.77%.

Insider Buying and Selling

In related news, insider Michael Sabel bought 234,500 shares of the stock in a transaction dated Friday, March 14th. The stock was purchased at an average cost of $10.53 per share, with a total value of $2,469,285.00. Following the completion of the purchase, the insider now owns 1,185,885 shares of the company’s stock, valued at $12,487,369.05. This trade represents a 24.65 % increase in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Also, insider Robert B. Pender purchased 269,500 shares of the business’s stock in a transaction dated Wednesday, March 12th. The stock was bought at an average price of $10.39 per share, for a total transaction of $2,800,105.00. Following the completion of the acquisition, the insider now owns 719,885 shares of the company’s stock, valued at approximately $7,479,605.15. The trade was a 59.84 % increase in their position. The disclosure for this purchase can be found here. Insiders have bought 803,000 shares of company stock valued at $8,108,260 in the last ninety days. 86.73% of the stock is owned by company insiders.

Institutional Investors Weigh In On Venture Global

Several large investors have recently added to or reduced their stakes in the stock. Renaissance Capital LLC bought a new stake in shares of Venture Global during the first quarter valued at approximately $1,439,000. Defined Wealth Management LLC purchased a new position in Venture Global during the 1st quarter worth $114,000. Wealth Enhancement Advisory Services LLC bought a new stake in Venture Global during the 1st quarter valued at $156,000. Exchange Traded Concepts LLC purchased a new stake in shares of Venture Global in the 1st quarter worth $1,316,000. Finally, Forefront Wealth Management Inc. bought a new position in shares of Venture Global during the 1st quarter worth $938,000.

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.