Venture Global’s (VG) Market Perform Rating Reaffirmed at Sanford C. Bernstein

Venture Global (NYSE:VG)‘s stock had its “market perform” rating reissued by equities researchers at Sanford C. Bernstein in a research report issued on Friday, Marketbeat reports. They currently have a $14.00 target price on the stock. Sanford C. Bernstein‘s price target would suggest a potential upside of 10.97% from the company’s previous close.

Several other research firms have also issued reports on VG. Weiss Ratings upgraded Venture Global from a “hold (c-)” rating to a “hold (c)” rating in a research note on Monday, September 28th. Scotiabank lifted their target price on Venture Global from $15.00 to $16.00 and gave the company a “sector perform” rating in a research note on Thursday, September 10th. Royal Bank Of Canada reiterated an “outperform” rating on shares of Venture Global in a research note on Wednesday, October 7th. Wells Fargo & Company lifted their target price on Venture Global from $14.00 to $15.00 and gave the company an “equal weight” rating in a research note on Wednesday, August 12th. Finally, Zacks Research lowered Venture Global from a “strong-buy” rating to a “hold” rating in a research note on Monday, October 12th. Nine equities research analysts have rated the stock with a Buy rating and seven have given a Hold rating to the company. Based on data from MarketBeat, Venture Global has an average rating of “Moderate Buy” and a consensus price target of $16.53.

Venture Global Stock Down 1.5%

Shares of VG stock traded down $0.19 on Friday, hitting $12.62. The stock had a trading volume of 14,662,410 shares, compared to its average volume of 17,892,344. The company has a quick ratio of 1.11, a current ratio of 1.19 and a debt-to-equity ratio of 3.44. The business has a 50 day moving average price of $13.86 and a 200 day moving average price of $13.13. The company has a market cap of $31.54 billion, a PE ratio of 9.93 and a beta of 0.35. Venture Global has a one year low of $5.72 and a one year high of $17.62.

Venture Global (NYSE:VG) last released its quarterly earnings data on Monday, August 10th. The company reported $0.51 earnings per share for the quarter, beating the consensus estimate of $0.50 by $0.01. The firm 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%. Research analysts anticipate that Venture Global will post 1.75 earnings per share for the current fiscal year.

Insider Buying and Selling at Venture Global

In related news, Director Jimmy D. Staton sold 66,000 shares of the company’s stock in a transaction that occurred on Thursday, August 13th. The stock was sold at an average price of $13.35, for a total value of $881,100.00. Following the sale, the director owned 1,083,000 shares in the company, valued at $14,458,050. This represents a 5.74% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CFO Jonathan W. Thayer sold 111,111 shares of the company’s stock in a transaction that occurred on Tuesday, October 20th. The shares were sold at an average price of $12.70, for a total value of $1,411,109.70. The SEC filing for this sale provides additional information. In the last three months, insiders have sold 2,493,553 shares of company stock valued at $35,074,470. Insiders own 84.24% of the company’s stock.

Institutional Investors Weigh In On Venture Global

Several hedge funds have recently bought and sold shares of VG. LRI Investments LLC purchased a new stake in Venture Global in the 2nd quarter worth approximately $28,000. Rockefeller Capital Management L.P. raised its stake in Venture Global by 218.1% in the 4th quarter. Rockefeller Capital Management L.P. now owns 4,421 shares of the company’s stock valued at $30,000 after purchasing an additional 3,031 shares during the last quarter. IFP Advisors Inc acquired a new position in Venture Global in the 2nd quarter valued at $31,000. AdvisorNet Financial Inc raised its stake in Venture Global by 67.5% in the 1st quarter. AdvisorNet Financial Inc now owns 4,480 shares of the company’s stock valued at $71,000 after purchasing an additional 1,805 shares during the last quarter. Finally, Fifth Third Bancorp raised its stake 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 purchasing an additional 5,794 shares during the last quarter.

About Venture Global

Venture Global, Inc (NYSE:VG) is a U.S.-based liquefied natural gas (LNG) company that develops, constructs, owns and operates LNG export facilities. The company sources natural gas, processes it into LNG and exports the product to customers in international energy markets.

Venture Global’s operating and development portfolio is concentrated along the U.S. Gulf Coast, particularly in Louisiana. Its projects include the Calcasieu Pass LNG facility, the Plaquemines LNG facility and additional proposed developments such as CP2 LNG and Delta LNG.