Venture Global (NYSE:VG) Reaches New 52-Week Low After Insider Selling

Venture Global, Inc. (NYSE:VG)’s share price reached a new 52-week low during trading on Wednesday after an insider sold shares in the company. The stock traded as low as $6.26 and last traded at $6.2350, with a volume of 3880952 shares traded. The stock had previously closed at $6.63.

Specifically, 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 document filed with the SEC, which can be accessed through this link.

Analysts Set New Price Targets

VG has been the topic of a number of analyst reports. Zacks Research cut Venture Global from a “hold” rating to a “strong sell” rating in a research report on Friday, November 28th. Scotiabank dropped 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 report on Thursday, November 13th. Weiss Ratings reissued a “sell (d+)” rating on shares of Venture Global in a report on Monday. UBS Group raised shares of Venture Global from a “neutral” rating to a “buy” rating and set a $18.00 price objective on the stock in a research note on Monday, August 25th. Finally, The Goldman Sachs Group reiterated a “buy” rating and issued a $17.50 target price on shares of Venture Global in a research note on Monday, November 10th. Eight investment analysts have rated the stock with a Buy rating, seven have given a Hold rating and two have assigned a Sell rating to the company. According to data from MarketBeat, Venture Global currently has a consensus rating of “Hold” and an average price target of $15.00.

Venture Global Trading Down 5.7%

The business’s 50 day simple moving average is $8.85 and its 200-day simple moving average is $12.57. The company has a debt-to-equity ratio of 3.46, a current ratio of 0.83 and a quick ratio of 0.77. The stock has a market capitalization of $15.31 billion and a P/E ratio of 8.02.

Venture Global (NYSE:VG) last posted its earnings results on Monday, November 10th. The company reported $0.16 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.22 by ($0.06). Venture Global had a return on equity of 29.55% and a net margin of 21.99%.The company had revenue of $3.33 billion for the quarter, compared to analyst estimates of $3.23 billion. The business’s quarterly revenue was up 259.5% on a year-over-year basis. As a group, analysts forecast that Venture Global, Inc. will post 0.52 EPS for the current year.

Venture Global Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Wednesday, December 31st. Stockholders of record on Monday, December 15th will be issued a $0.017 dividend. This represents a $0.07 dividend on an annualized basis and a dividend yield of 1.1%. The ex-dividend date is Monday, December 15th. Venture Global’s payout ratio is 7.69%.

Institutional Investors Weigh In On Venture Global

Institutional investors have recently bought and sold shares of the company. Vanguard Group Inc. lifted its position in shares of Venture Global by 147.4% in the third quarter. Vanguard Group Inc. now owns 22,862,372 shares of the company’s stock worth $324,417,000 after purchasing an additional 13,620,863 shares in the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. acquired a new stake in Venture Global in the 2nd quarter valued at $76,489,000. Deutsche Bank AG bought a new stake in Venture Global during the 1st quarter worth about $37,798,000. Millennium Management LLC bought a new stake in Venture Global during the 1st quarter worth about $32,099,000. Finally, Tortoise Capital Advisors L.L.C. acquired a new position in shares of Venture Global during the 1st quarter worth about $28,673,000.

Venture Global Company Profile

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.