Scotiabank Cuts Venture Global (NYSE:VG) Price Target to $12.00

Venture Global (NYSE:VG) had its price objective decreased by equities research analysts at Scotiabank from $13.00 to $12.00 in a research note issued to investors on Thursday,Benzinga reports. The brokerage presently has a “sector perform” rating on the stock. Scotiabank’s price target suggests a potential upside of 50.28% from the company’s previous close.

Several other brokerages have also issued reports on VG. Mizuho restated a “neutral” rating and set a $12.00 target price (down from $17.00) on shares of Venture Global in a research report on Friday, October 10th. UBS Group raised Venture Global from a “neutral” rating to a “buy” rating and set a $18.00 price objective for the company in a research note on Monday, August 25th. Tudor Pickering upgraded Venture Global to a “hold” rating in a research report on Tuesday, September 2nd. Weiss Ratings reaffirmed a “sell (d)” rating on shares of Venture Global in a research note on Wednesday, October 8th. Finally, The Goldman Sachs Group reaffirmed a “buy” rating and set a $17.50 target price on shares of Venture Global in a research report on Monday. Eight analysts have rated the stock with a Buy rating, seven have issued a Hold rating and one has assigned a Sell rating to the stock. According to MarketBeat.com, the stock has a consensus rating of “Hold” and a consensus target price of $15.64.

Venture Global Stock Down 1.8%

VG traded down $0.15 during trading on Thursday, hitting $7.99. 7,280,029 shares of the company’s stock were exchanged, compared to its average volume of 7,792,680. The stock has a market cap of $19.39 billion and a P/E ratio of 10.23. The business’s 50 day moving average is $11.39 and its two-hundred day moving average is $12.87. The company has a quick ratio of 1.33, a current ratio of 0.83 and a debt-to-equity ratio of 3.46. Venture Global has a fifty-two week low of $6.75 and a fifty-two week high of $25.50.

Venture Global (NYSE:VG) last released its earnings results on Monday, November 10th. The company reported $0.16 earnings per share for the quarter, missing analysts’ consensus estimates of $0.22 by ($0.06). Venture Global had a net margin of 21.99% and a return on equity of 29.55%. The company had revenue of $3.33 billion for the quarter, compared to the consensus estimate of $3.23 billion. Venture Global’s quarterly revenue was up 259.5% on a year-over-year basis. As a group, equities analysts expect that Venture Global will post 0.52 earnings per share for the current fiscal year.

Insider Buying and Selling

In other news, insider Thomas Earl sold 840,076 shares of Venture Global stock in a transaction that occurred on Thursday, September 11th. The shares were sold at an average price of $13.74, for a total transaction of $11,542,644.24. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Insiders sold a total of 1,500,000 shares of company stock worth $20,561,011 in the last quarter. Company insiders own 86.73% of the company’s stock.

Institutional Investors Weigh In On Venture Global

Hedge funds have recently bought and sold shares of the stock. Y Intercept Hong Kong Ltd acquired a new position in Venture Global in the 2nd quarter valued at $3,148,000. Burkehill Global Management LP acquired a new position in Venture Global in the first quarter valued at $10,300,000. Benjamin Edwards Inc. purchased a new position in Venture Global during the first quarter worth about $206,000. Stratos Wealth Partners LTD. purchased a new stake in Venture Global in the 2nd quarter valued at about $815,000. Finally, Vanguard Group Inc. acquired a new position in shares of Venture Global during the 1st quarter valued at about $125,788,000.

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.