Venture Global (NYSE:VG) Price Target Lowered to $14.00 at Royal Bank of Canada

by · The Markets Daily

Venture Global (NYSE:VG – Get Free Report) had its price target lowered by research analysts at Royal Bank of Canada from $15.00 to $14.00 in a report released on Monday,Benzinga reports. The brokerage presently has an “outperform” rating on the stock. Royal Bank of Canada’s price target would indicate a potential upside of 61.48% from the company’s current price.

Several other research firms also recently issued reports on VG. Bank of America cut their price target on Venture Global from $14.00 to $12.00 and set a “buy” rating for the company in a research note on Tuesday, April 29th. Citigroup cut their price target on Venture Global from $18.00 to $11.00 and set a “neutral” rating for the company in a report on Tuesday, March 11th. UBS Group started coverage on shares of Venture Global in a research report on Friday, April 4th. They set a “buy” rating and a $14.00 price target for the company. JPMorgan Chase & Co. decreased their target price on Venture Global from $16.00 to $15.00 and set an “overweight” rating for the company in a report on Thursday, April 24th. Finally, Deutsche Bank Aktiengesellschaft started coverage on shares of Venture Global in a research report on Tuesday, February 18th. They set a “buy” rating and a $19.00 price target on the stock. One equities research analyst has rated the stock with a sell rating, four have issued a hold rating and eight have assigned a buy rating to the stock. According to data from MarketBeat, Venture Global has a consensus rating of “Moderate Buy” and a consensus price target of $15.75.

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Venture Global Stock Performance

Venture Global stock traded down $0.15 during trading hours on Monday, reaching $8.67. 1,463,632 shares of the stock were exchanged, compared to its average volume of 7,879,586. The company’s 50 day moving average price is $9.95. Venture Global has a 52-week low of $6.75 and a 52-week high of $25.50.

Venture Global (NYSE:VG – Get Free Report) last issued its earnings results on Thursday, March 6th. The company reported $0.33 EPS for the quarter, topping the consensus estimate of $0.30 by $0.03. The company had revenue of $1.52 billion for the quarter. As a group, equities analysts predict that Venture Global will post 0.52 earnings per share for the current year.

Insider Activity at Venture Global

In related news, insider Robert B. Pender purchased 250,000 shares of the firm’s stock in a transaction that occurred on Monday, March 10th. The stock was acquired at an average price of $9.37 per share, for a total transaction of $2,342,500.00. Following the transaction, the insider now directly owns 250,000 shares of the company’s stock, valued at $2,342,500. This trade represents a ∞ increase in their position. The acquisition was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, Director Jimmy D. Staton acquired 49,000 shares of the business’s stock in a transaction on Tuesday, March 11th. The shares were bought at an average price of $10.13 per share, for a total transaction of $496,370.00. Following the acquisition, the director now owns 49,000 shares in the company, valued at approximately $496,370. This trade represents a ∞ increase in their position. The disclosure for this purchase can be found here. Insiders bought 803,000 shares of company stock valued at $8,108,260 over the last 90 days. 86.73% of the stock is currently owned by corporate insiders.

Institutional Inflows and Outflows

Large investors have recently added to or reduced their stakes in the stock. Center for Financial Planning Inc. acquired a new stake in shares of Venture Global in the first quarter worth about $37,000. ORG Wealth Partners LLC bought a new stake in Venture Global during the first quarter worth approximately $60,000. Stephens Inc. AR acquired a new position in Venture Global during the first quarter valued at approximately $114,000. Summit Trail Advisors LLC bought a new position in shares of Venture Global in the first quarter valued at approximately $114,000. Finally, Defined Wealth Management LLC acquired a new stake in shares of Venture Global in the first quarter worth $114,000.

About Venture Global

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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.

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