Venture Global, Inc. (NYSE:VG) Sees Significant Increase in Short Interest

Venture Global, Inc. (NYSE:VG) saw a significant growth in short interest during the month of December. As of December 15th, there was short interest totaling 69,437,085 shares, a growth of 40.9% from the November 30th total of 49,273,695 shares. Based on an average daily volume of 12,227,495 shares, the days-to-cover ratio is currently 5.7 days. Approximately 21.4% of the shares of the company are sold short. Approximately 21.4% of the shares of the company are sold short. Based on an average daily volume of 12,227,495 shares, the days-to-cover ratio is currently 5.7 days.

Wall Street Analyst Weigh In

Several research firms have recently issued reports on VG. JPMorgan Chase & Co. reduced their target price on Venture Global from $16.00 to $10.00 and set an “overweight” rating on the stock in a report on Wednesday, November 26th. US Capital Advisors upgraded shares of Venture Global to a “moderate sell” rating in a research note on Monday, December 15th. Zacks Research lowered shares of Venture Global from a “hold” rating to a “strong sell” rating in a report on Friday, November 28th. Mizuho reaffirmed a “neutral” rating and set a $12.00 price target (down previously from $17.00) on shares of Venture Global in a report on Friday, October 10th. Finally, Scotiabank reduced their price target on shares of Venture Global from $13.00 to $12.00 and set a “sector perform” rating on the stock in a research report on Thursday, November 13th. Eight analysts have rated the stock with a Buy rating, seven have assigned a Hold rating and two have given a Sell rating to the stock. According to MarketBeat, the stock presently has an average rating of “Hold” and a consensus target price of $14.25.

Venture Global Trading Up 0.6%

NYSE:VG traded up $0.05 during trading hours on Monday, hitting $7.00. 10,209,107 shares of the company were exchanged, compared to its average volume of 12,441,966. The stock has a market capitalization of $17.12 billion and a price-to-earnings ratio of 8.97. Venture Global has a one year low of $5.72 and a one year high of $25.50. The company has a fifty day simple moving average of $7.49 and a 200 day simple moving average of $11.83. The company has a current ratio of 0.83, a quick ratio of 0.77 and a debt-to-equity ratio of 3.46.

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

Venture Global Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Wednesday, December 31st. Shareholders of record on Monday, December 15th will be issued a dividend of $0.017 per share. The ex-dividend date is Monday, December 15th. This represents a $0.07 annualized dividend and a yield of 1.0%. Venture Global’s dividend payout ratio (DPR) is presently 8.97%.

Insider Activity at Venture Global

In other news, insider Thomas Earl sold 1,000,000 shares of the stock in a transaction that occurred on Friday, December 5th. The stock was sold at an average price of $6.89, for a total transaction of $6,890,000.00. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Also, VP Fory Musser sold 776,298 shares of the business’s stock in a transaction on Monday, November 17th. The shares were sold at an average price of $8.06, for a total value of $6,256,961.88. The SEC filing for this sale provides additional information. Insiders sold 3,000,000 shares of company stock worth $22,904,729 in the last ninety days. 86.73% of the stock is owned by company insiders.

Hedge Funds Weigh In On Venture Global

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

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.