Venture Global (NYSE:VG) Cut to “Neutral” at JPMorgan Chase & Co.

JPMorgan Chase & Co. cut shares of Venture Global (NYSE:VG) from an overweight rating to a neutral rating in a research note published on Tuesday, Marketbeat reports. JPMorgan Chase & Co. currently has $11.00 price objective on the stock, up from their prior price objective of $10.00.

Several other research analysts also recently commented on VG. Wells Fargo & Company set a $8.00 target price on Venture Global in a research note on Monday, December 15th. Bank of America lowered their price objective on shares of Venture Global from $15.00 to $11.00 and set a “buy” rating for the company in a research report on Thursday, December 11th. Zacks Research lowered shares of Venture Global from a “hold” rating to a “strong sell” rating in a research report on Friday, November 28th. The Goldman Sachs Group reaffirmed a “buy” rating and set a $17.50 target price on shares of Venture Global in a research note on Monday, November 10th. Finally, Weiss Ratings reiterated a “sell (d+)” rating on shares of Venture Global in a research note on Monday, December 29th. Seven research analysts have rated the stock with a Buy rating, eight have issued a Hold rating and two have assigned a Sell rating to the stock. Based on data from MarketBeat, the stock currently has an average rating of “Hold” and an average price target of $13.75.

Venture Global Stock Up 1.5%

NYSE VG opened at $9.66 on Tuesday. The business has a fifty day moving average price of $7.35 and a two-hundred day moving average price of $10.54. The stock has a market capitalization of $23.64 billion and a PE ratio of 12.38. Venture Global has a fifty-two week low of $5.72 and a fifty-two week high of $22.14. The company has a debt-to-equity ratio of 3.46, a current ratio of 0.83 and a quick ratio of 0.77.

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

Venture Global Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Wednesday, December 31st. Investors of record on Monday, December 15th were issued a $0.017 dividend. This represents a $0.07 dividend on an annualized basis and a yield of 0.7%. The ex-dividend date was Monday, December 15th. Venture Global’s dividend payout ratio is presently 8.97%.

Insider Buying and Selling at Venture Global

In other news, insider Thomas Earl sold 1,000,000 shares of the firm’s stock in a transaction dated Friday, December 5th. The stock was sold at an average price of $6.89, for a total transaction of $6,890,000.00. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, VP Fory Musser sold 776,298 shares of Venture Global stock in a transaction that occurred on Monday, November 17th. The stock was sold at an average price of $8.06, for a total value of $6,256,961.88. The SEC filing for this sale provides additional information. Over the last ninety days, insiders have sold 3,000,000 shares of company stock valued at $22,904,729. 86.73% of the stock is owned by corporate insiders.

Institutional Inflows and Outflows

Several hedge funds have recently added to or reduced their stakes in VG. Royal Bank of Canada acquired a new position in shares of Venture Global in the 1st quarter worth approximately $2,150,000. Integrated Wealth Concepts LLC bought a new position in Venture Global during the first quarter worth $152,000. NewEdge Advisors LLC acquired a new position in Venture Global in the first quarter valued at $460,000. LexAurum Advisors LLC bought a new stake in Venture Global during the second quarter valued at $218,000. Finally, Future Financial Wealth Managment LLC acquired a new stake in Venture Global during the 2nd quarter worth about $47,000.

About Venture Global

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.