Guggenheim Cuts Venture Global (NYSE:VG) Price Target to $20.00

Venture Global (NYSE:VG) had its price target reduced by Guggenheim from $27.00 to $20.00 in a research report sent to investors on Monday,Benzinga reports. They currently have a buy rating on the stock.

Other research analysts also recently issued research reports about the stock. Deutsche Bank Aktiengesellschaft initiated coverage on shares of Venture Global in a research note on Tuesday, February 18th. They issued a “buy” rating and a $19.00 target price for the company. Sanford C. Bernstein assumed coverage on shares of Venture Global in a research note on Tuesday, February 4th. They set a “market perform” rating and a $20.00 price objective on the stock. Mizuho assumed coverage on shares of Venture Global in a research note on Tuesday, February 18th. They issued an “outperform” rating and a $25.00 target price for the company. Citigroup began coverage on Venture Global in a report on Tuesday, February 18th. They issued a “neutral” rating and a $18.00 price target for the company. Finally, Wells Fargo & Company assumed coverage on Venture Global in a report on Tuesday, February 18th. They set an “equal weight” rating and a $18.00 price objective on the stock. One analyst has rated the stock with a sell rating, four have issued a hold rating and seven have given a buy rating to the company’s stock. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average target price of $17.55.

Venture Global Stock Performance

VG stock opened at $10.28 on Monday. Venture Global has a 12 month low of $8.62 and a 12 month high of $25.50.

Venture Global (NYSE:VG) last announced its earnings results on Thursday, March 6th. The company reported $0.33 EPS for the quarter, beating analysts’ consensus estimates of $0.30 by $0.03. The company had revenue of $1.52 billion for the quarter. As a group, sell-side analysts anticipate that Venture Global will post 0.52 earnings per share for the current year.

Venture Global Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Monday, March 31st. Shareholders of record on Monday, March 10th will be paid a dividend of $0.0165 per share. The ex-dividend date of this dividend is Monday, March 10th. This represents a $0.07 annualized dividend and a yield of 0.64%.

Insider Activity

In other Venture Global news, insider Robert B. Pender bought 269,500 shares of the company’s stock in a transaction that occurred on Wednesday, March 12th. The stock was purchased at an average price of $10.39 per share, with a total value of $2,800,105.00. Following the transaction, the insider now owns 719,885 shares in the company, valued at $7,479,605.15. This trade represents a 59.84 % increase in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. Corporate insiders own 4.72% of the company’s stock.

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.