Venture Global (NYSE:VG) Given New $11.00 Price Target at Scotiabank

Venture Global (NYSE:VG) had its price objective lifted by investment analysts at Scotiabank from $9.00 to $11.00 in a report released on Tuesday,Benzinga reports. The firm currently has a “sector perform” rating on the stock. Scotiabank’s price objective would indicate a potential downside of 12.34% from the stock’s previous close.

A number of other analysts also recently issued reports on VG. JPMorgan Chase & Co. downgraded shares of Venture Global from an “overweight” rating to a “neutral” rating and increased their target price for the stock from $10.00 to $11.00 in a research report on Tuesday, January 27th. Wall Street Zen downgraded shares of Venture Global from a “hold” rating to a “sell” rating in a research note on Saturday. UBS Group dropped their price objective on shares of Venture Global from $18.00 to $16.00 and set a “buy” rating for the company in a research report on Thursday, January 22nd. The Goldman Sachs Group reissued a “buy” rating on shares of Venture Global in a research note on Tuesday, March 3rd. Finally, New Street Research set a $15.00 target price on shares of Venture Global in a report on Tuesday, March 3rd. Seven research analysts have rated the stock with a Buy rating, eight have assigned a Hold rating and two have given a Sell rating to the company’s stock. According to MarketBeat, the stock presently has an average rating of “Hold” and an average target price of $13.23.

Venture Global Trading Up 2.2%

VG stock traded up $0.27 during trading on Tuesday, reaching $12.55. 2,123,615 shares of the stock traded hands, compared to its average volume of 15,533,156. The firm has a market capitalization of $30.72 billion, a PE ratio of 14.60 and a beta of 5.67. The company has a debt-to-equity ratio of 3.24, a current ratio of 0.93 and a quick ratio of 0.87. The business’s 50 day moving average price is $9.69 and its 200-day moving average price is $9.63. Venture Global has a 52-week low of $5.72 and a 52-week high of $19.50.

Venture Global (NYSE:VG) last released its quarterly earnings data on Monday, March 2nd. The company reported $0.41 EPS for the quarter, topping analysts’ consensus estimates of $0.35 by $0.06. The company had revenue of $4.45 billion for the quarter. Venture Global had a return on equity of 27.96% and a net margin of 18.38%.The business’s revenue for the quarter was up 191.7% on a year-over-year basis. As a group, sell-side analysts forecast that Venture Global will post 0.52 earnings per share for the current year.

Insider Buying and Selling at Venture Global

In other Venture Global news, VP Fory Musser sold 1,000,000 shares of the company’s stock in a transaction that occurred on Wednesday, March 4th. The stock was sold at an average price of $10.90, for a total value of $10,900,000.00. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, CAO Sarah Blake sold 119,300 shares of the stock in a transaction that occurred on Thursday, March 12th. The shares were sold at an average price of $13.01, for a total value of $1,552,093.00. The SEC filing for this sale provides additional information. Insiders sold a total of 2,450,000 shares of company stock worth $28,236,193 in the last 90 days. 86.73% of the stock is owned by corporate insiders.

Institutional Trading of Venture Global

A number of hedge funds and other institutional investors have recently made changes to their positions in VG. Quotient Wealth Partners LLC acquired a new position in Venture Global during the 3rd quarter worth $3,641,000. WINTON GROUP Ltd acquired a new stake in shares of Venture Global in the 3rd quarter valued at about $13,632,000. Russell Investments Group Ltd. raised its stake in shares of Venture Global by 61.1% in the 2nd quarter. Russell Investments Group Ltd. now owns 616,643 shares of the company’s stock valued at $9,607,000 after purchasing an additional 233,978 shares in the last quarter. Ausbil Investment Management Ltd bought a new position in shares of Venture Global during the third quarter worth about $4,706,000. Finally, Exchange Traded Concepts LLC lifted its position in shares of Venture Global by 223.7% during the third quarter. Exchange Traded Concepts LLC now owns 562,760 shares of the company’s stock worth $7,986,000 after purchasing an additional 388,892 shares during the last quarter.

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.