Venture Global (NYSE:VG) Cut to Sell at StockNews.com

StockNews.com downgraded shares of Venture Global (NYSE:VG) from a hold rating to a sell rating in a report published on Saturday.

Several other brokerages have also recently issued reports on VG. Scotiabank dropped their price target on Venture Global from $17.00 to $15.00 and set a “sector perform” rating on the stock in a research report on Friday, March 7th. Wells Fargo & Company cut their price target on Venture Global from $18.00 to $11.00 and set an “equal weight” rating for the company in a research note on Tuesday, March 11th. JPMorgan Chase & Co. lowered their price objective on shares of Venture Global from $25.00 to $16.00 and set an “overweight” rating on the stock in a research report on Friday, March 7th. Royal Bank of Canada initiated coverage on shares of Venture Global in a research report on Tuesday, February 18th. They set an “outperform” rating and a $20.00 price objective for the company. Finally, Mizuho lowered their target price on shares of Venture Global from $25.00 to $18.00 and set an “outperform” rating on the stock in a report on Tuesday, March 11th. One equities research 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. Based on data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average price target of $17.55.

Venture Global Trading Up 4.7 %

VG stock opened at $11.21 on Friday. Venture Global has a twelve month low of $8.62 and a twelve month high of $25.50.

Venture Global (NYSE:VG) last issued its quarterly earnings results on Thursday, March 6th. The company reported $0.33 earnings per share for the quarter, topping analysts’ consensus estimates of $0.30 by $0.03. The business had revenue of $1.52 billion for the quarter. As a group, equities analysts predict that Venture Global will post 0.52 EPS for the current fiscal year.

Venture Global Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Monday, March 31st. Shareholders of record on Monday, March 10th will be issued a $0.0165 dividend. The ex-dividend date is Monday, March 10th. This represents a $0.07 dividend on an annualized basis and a yield of 0.59%.

Insider Transactions at Venture Global

In other Venture Global news, insider Robert B. Pender purchased 250,000 shares of the business’s stock in a transaction on Monday, March 10th. The stock was bought at an average cost of $9.37 per share, for a total transaction of $2,342,500.00. Following the acquisition, the insider now owns 250,000 shares of the company’s stock, valued at approximately $2,342,500. The trade was a ∞ increase in their position. The acquisition was disclosed in a legal filing with the SEC, which is available at this link. Also, Director Jimmy D. Staton purchased 49,000 shares of Venture Global stock in a transaction on Tuesday, March 11th. The shares were acquired at an average cost of $10.13 per share, for a total transaction of $496,370.00. Following the purchase, the director now owns 49,000 shares in the company, valued at approximately $496,370. This trade represents a ∞ increase in their ownership of the stock. 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 quarter. 4.72% of the stock is currently owned by corporate insiders.

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.