Venture Global (NYSE:VG) Sets New 52-Week Low – Time to Sell?

Shares of Venture Global, Inc. (NYSE:VG) reached a new 52-week low during mid-day trading on Friday . The company traded as low as $8.00 and last traded at $8.05, with a volume of 1882318 shares trading hands. The stock had previously closed at $8.98.

Analysts Set New Price Targets

Several research firms have recently commented on VG. JPMorgan Chase & Co. lowered their price target on shares of Venture Global from $25.00 to $16.00 and set an “overweight” rating for the company in a research report on Friday, March 7th. Citigroup decreased their target price on shares of Venture Global from $18.00 to $11.00 and set a “neutral” rating for the company in a research report on Tuesday, March 11th. Wells Fargo & Company cut their price target on Venture Global from $18.00 to $11.00 and set an “equal weight” rating on the stock in a report on Tuesday, March 11th. Scotiabank reduced their price objective on Venture Global from $17.00 to $15.00 and set a “sector perform” rating for the company in a research report on Friday, March 7th. Finally, Deutsche Bank Aktiengesellschaft started coverage on Venture Global in a research report on Tuesday, February 18th. They issued a “buy” rating and a $19.00 target price on the stock. One research analyst has rated the stock with a sell rating, four have assigned a hold rating and eight have given a buy rating to the stock. Based on data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus price target of $17.25.

Venture Global Stock Down 17.5 %

The stock’s 50 day moving average price is $13.30.

Venture Global (NYSE:VG) last announced its quarterly earnings data on Thursday, March 6th. The company reported $0.33 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.30 by $0.03. The business had revenue of $1.52 billion during the quarter. Sell-side analysts predict that Venture Global, Inc. will post 0.52 earnings per share for the current fiscal year.

Venture Global Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Monday, March 31st. Shareholders of record on Monday, March 10th were issued a $0.0165 dividend. The ex-dividend date of this dividend was Monday, March 10th. This represents a $0.07 annualized dividend and a dividend yield of 0.89%.

Insider Transactions at Venture Global

In other news, insider Robert B. Pender acquired 269,500 shares of Venture Global stock in a transaction on Wednesday, March 12th. The stock was bought at an average cost of $10.39 per share, with a total value of $2,800,105.00. Following the completion of the purchase, the insider now owns 719,885 shares of the company’s stock, valued at $7,479,605.15. This represents a 59.84 % increase in their ownership of the stock. The purchase was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, Director Jimmy D. Staton purchased 49,000 shares of the business’s stock in a transaction dated Tuesday, March 11th. The shares were purchased at an average price of $10.13 per share, for a total transaction of $496,370.00. Following the acquisition, the director now directly owns 49,000 shares of the company’s stock, valued at $496,370. This trade represents a ∞ increase in their ownership of the stock. The disclosure for this purchase can be found here. Insiders purchased a total of 803,000 shares of company stock valued at $8,108,260 in the last three months. 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.