Venture Global (NYSE:VG) Cut to “Hold” at Zacks Research

Venture Global (NYSE:VG) was downgraded by investment analysts at Zacks Research from a “strong-buy” rating to a “hold” rating in a report issued on Monday, Zacks reports.

A number of other equities research analysts have also recently weighed in on VG. Mizuho lifted their price objective on Venture Global from $13.00 to $15.00 and gave the company a “neutral” rating in a research note on Wednesday, July 22nd. Wells Fargo & Company boosted their price target on shares of Venture Global from $14.00 to $15.00 and gave the stock an “equal weight” rating in a research note on Wednesday, August 12th. Royal Bank Of Canada reissued an “outperform” rating on shares of Venture Global in a research note on Wednesday, October 7th. Scotiabank raised their target price on shares of Venture Global from $15.00 to $16.00 and gave the company a “sector perform” rating in a report on Thursday, September 10th. Finally, Sanford C. Bernstein initiated coverage on shares of Venture Global in a research report on Tuesday, June 16th. They set a “market perform” rating and a $14.00 price objective for the company. Eight equities research analysts have rated the stock with a Buy rating and eight have given a Hold rating to the company’s stock. According to data from MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus target price of $16.13.

Venture Global Price Performance

Venture Global stock opened at $13.85 on Monday. The company has a current ratio of 1.19, a quick ratio of 1.11 and a debt-to-equity ratio of 3.44. The stock has a market cap of $34.61 billion, a P/E ratio of 10.34, a PEG ratio of 1.58 and a beta of 0.35. The company has a 50-day moving average price of $13.91 and a 200 day moving average price of $13.26. Venture Global has a 12-month low of $5.72 and a 12-month high of $17.62.

Venture Global (NYSE:VG) last issued its quarterly earnings data on Monday, August 10th. The company reported $0.51 earnings per share for the quarter, topping the consensus estimate of $0.50 by $0.01. The company had revenue of $4.58 billion during the quarter. Venture Global had a return on equity of 34.08% and a net margin of 21.24%. Sell-side analysts anticipate that Venture Global will post 1.73 earnings per share for the current year.

Insider Buying and Selling

In other Venture Global news, VP Fory Musser sold 259,413 shares of the stock in a transaction dated Thursday, August 20th. The shares were sold at an average price of $14.26, for a total value of $3,699,229.38. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CFO Jonathan W. Thayer sold 111,111 shares of the firm’s stock in a transaction that occurred on Thursday, September 17th. The shares were sold at an average price of $14.40, for a total value of $1,599,998.40. The disclosure for this sale is available in the SEC filing. Insiders have sold 2,493,553 shares of company stock worth $35,242,247 in the last three months. Company insiders own 84.24% of the company’s stock.

Institutional Investors Weigh In On Venture Global

A number of large investors have recently added to or reduced their stakes in the business. LRI Investments LLC acquired a new position in Venture Global during the second quarter valued at approximately $28,000. IFP Advisors Inc acquired a new position in Venture Global during the 2nd quarter worth approximately $31,000. Rockefeller Capital Management L.P. grew its position in Venture Global by 218.1% in the fourth quarter. Rockefeller Capital Management L.P. now owns 4,421 shares of the company’s stock valued at $30,000 after acquiring an additional 3,031 shares in the last quarter. AdvisorNet Financial Inc lifted its position in shares of Venture Global by 67.5% during the first quarter. AdvisorNet Financial Inc now owns 4,480 shares of the company’s stock worth $71,000 after purchasing an additional 1,805 shares in the last quarter. Finally, Fifth Third Bancorp boosted its position in Venture Global by 17,041.2% in the 1st quarter. Fifth Third Bancorp now owns 5,828 shares of the company’s stock valued at $92,000 after buying an additional 5,794 shares during the last quarter.

About Venture Global

Venture Global, Inc (NYSE:VG) is a U.S. liquefied natural gas (LNG) company that develops, constructs, owns and operates LNG export facilities. The company’s business includes sourcing natural gas, processing and liquefying it, and delivering LNG to customers in international energy markets.

Venture Global’s principal operations are located along the U.S. Gulf Coast in Louisiana. Its Calcasieu Pass LNG facility began producing LNG in 2022, and the company is also developing the Plaquemines LNG facility near Port Sulphur, Louisiana.