Venture Global (NYSE:VG) Reaches New 52-Week Low – Here’s What Happened

Venture Global, Inc. (NYSE:VG)’s share price reached a new 52-week low during trading on Tuesday . The company traded as low as $5.72 and last traded at $5.7370, with a volume of 8072835 shares traded. The stock had previously closed at $5.93.

Analyst Upgrades and Downgrades

A number of equities analysts have weighed in on VG shares. The Goldman Sachs Group reissued a “buy” rating and set a $17.50 price target on shares of Venture Global in a research report on Monday, November 10th. Mizuho reissued a “neutral” rating and set a $12.00 target price (down from $17.00) on shares of Venture Global in a report on Friday, October 10th. Citigroup cut their price target on Venture Global from $16.00 to $9.00 and set a “neutral” rating for the company in a report on Monday, November 24th. Deutsche Bank Aktiengesellschaft upgraded shares of Venture Global from a “hold” rating to a “buy” rating and set a $17.00 price objective on the stock in a report on Thursday, August 28th. Finally, Scotiabank cut their target price on shares of Venture Global from $13.00 to $12.00 and set a “sector perform” rating for the company in a research note on Thursday, November 13th. Eight equities research analysts have rated the stock with a Buy rating, seven have given a Hold rating and two have issued a Sell rating to the stock. According to data from MarketBeat.com, Venture Global has a consensus rating of “Hold” and an average target price of $14.25.

Venture Global Trading Down 2.1%

The company has a debt-to-equity ratio of 3.46, a quick ratio of 0.77 and a current ratio of 0.83. The business has a fifty day simple moving average of $8.21 and a 200 day simple moving average of $12.41. The stock has a market capitalization of $14.21 billion and a price-to-earnings ratio of 7.44.

Venture Global (NYSE:VG) last posted 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). The firm had revenue of $3.33 billion for the quarter, compared to analyst estimates of $3.23 billion. Venture Global had a return on equity of 29.55% and a net margin of 21.99%.Venture Global’s quarterly revenue was up 259.5% compared to the same quarter last year. As a group, research analysts expect that Venture Global, Inc. will post 0.52 EPS for the current year.

Venture Global Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, December 31st. Shareholders of record on Monday, December 15th will be issued a $0.017 dividend. The ex-dividend date of this dividend is Monday, December 15th. This represents a $0.07 dividend on an annualized basis and a yield of 1.2%. Venture Global’s payout ratio is currently 7.69%.

Insider Buying and Selling

In related news, VP Fory Musser sold 776,298 shares of the business’s 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 sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider Thomas Earl sold 1,000,000 shares of the firm’s stock in a transaction 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 disclosure for this sale is available in the SEC filing. In the last 90 days, insiders have sold 3,000,000 shares of company stock worth $22,904,729. Company insiders own 86.73% of the company’s stock.

Institutional Trading of Venture Global

Institutional investors have recently modified their holdings of the stock. Northwestern Mutual Wealth Management Co. acquired a new stake in shares of Venture Global during the 2nd quarter worth $26,000. AdvisorNet Financial Inc bought a new stake in Venture Global during the second quarter worth about $28,000. MAI Capital Management acquired a new stake in Venture Global during the third quarter worth about $29,000. Delos Wealth Advisors LLC bought a new position in Venture Global in the 2nd quarter valued at about $45,000. Finally, UMB Bank n.a. increased its holdings in Venture Global by 161.2% in the 3rd quarter. UMB Bank n.a. now owns 2,949 shares of the company’s stock valued at $42,000 after buying an additional 1,820 shares during the period.

About Venture Global

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.