Venture Global (NYSE:VG) Shares Gap Up on Strong Earnings

Venture Global, Inc. (NYSE:VG) shares gapped up prior to trading on Monday following a better than expected earnings announcement. The stock had previously closed at $9.69, but opened at $11.20. Venture Global shares last traded at $11.4560, with a volume of 11,316,755 shares changing hands.

The company reported $0.41 earnings per share for the quarter, topping the consensus estimate of $0.35 by $0.06. Venture Global had a net margin of 21.99% and a return on equity of 29.55%. The firm had revenue of $4.45 billion during the quarter. The business’s revenue was up 191.7% on a year-over-year basis.

Analysts Set New Price Targets

A number of equities research analysts have recently issued reports on VG shares. Zacks Research raised shares of Venture Global from a “strong sell” rating to a “hold” rating in a report on Friday, February 13th. Morgan Stanley initiated coverage on shares of Venture Global in a research note on Tuesday, February 24th. They set an “underweight” rating and a $8.00 price objective for the company. JPMorgan Chase & Co. downgraded shares of Venture Global from an “overweight” rating to a “neutral” rating and increased their price objective for the company from $10.00 to $11.00 in a report on Tuesday, January 27th. Citigroup decreased their target price on shares of Venture Global from $16.00 to $9.00 and set a “neutral” rating on the stock in a research note on Monday, November 24th. Finally, Capital One Financial assumed coverage on Venture Global in a research report on Tuesday, November 4th. They issued an “equal weight” rating and a $11.00 price target for the company. Eight analysts have rated the stock with a Buy rating, eight have given a Hold rating and two have assigned a Sell rating to the company. According to MarketBeat, Venture Global presently has an average rating of “Hold” and a consensus price target of $12.77.

Insider Activity at Venture Global

In related news, insider Thomas Earl sold 1,000,000 shares of the company’s stock in a transaction that occurred on Friday, December 5th. The stock was sold at an average price of $6.89, for a total value of $6,890,000.00. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Insiders own 86.73% of the company’s stock.

Institutional Investors Weigh In On Venture Global

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Alpine Global Management LLC purchased a new stake in Venture Global in the fourth quarter valued at $531,000. Pacer Advisors Inc. raised its holdings in Venture Global by 53.1% in the 4th quarter. Pacer Advisors Inc. now owns 263,799 shares of the company’s stock valued at $1,799,000 after buying an additional 91,524 shares during the period. Virtu Financial LLC raised its holdings in Venture Global by 346.6% in the 4th quarter. Virtu Financial LLC now owns 47,906 shares of the company’s stock valued at $327,000 after buying an additional 37,180 shares during the period. TMB Capital Partners LLC acquired a new position in Venture Global in the fourth quarter valued at about $102,000. Finally, Corient Private Wealth LLC purchased a new position in Venture Global during the fourth quarter worth about $500,000.

Venture Global Trading Up 18.6%

The business’s 50-day simple moving average is $8.58 and its two-hundred day simple moving average is $9.70. The firm has a market capitalization of $28.13 billion, a price-to-earnings ratio of 14.73 and a beta of 5.67. The company has a quick ratio of 0.77, a current ratio of 0.83 and a debt-to-equity ratio of 3.46.

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.