Venture Global (NYSE:VG) Shares Down 8.4% – Here’s Why

Shares of Venture Global, Inc. (NYSE:VG) fell 8.4% on Tuesday . The stock traded as low as $8.76 and last traded at $8.57. 2,498,801 shares traded hands during mid-day trading, a decline of 79% from the average session volume of 11,634,318 shares. The stock had previously closed at $9.36.

Wall Street Analyst Weigh In

A number of brokerages recently weighed in on VG. Zacks Research downgraded shares of Venture Global from a “hold” rating to a “strong sell” rating in a report on Friday, November 28th. Raymond James Financial began coverage on shares of Venture Global in a research note on Monday, February 2nd. They issued an “outperform” rating and a $11.00 target price on the stock. JPMorgan Chase & Co. cut shares of Venture Global from an “overweight” rating to a “neutral” rating and lifted their price target for the stock from $10.00 to $11.00 in a report on Tuesday, January 27th. Citigroup reduced their price objective on Venture Global from $16.00 to $9.00 and set a “neutral” rating for the company in a report on Monday, November 24th. Finally, US Capital Advisors upgraded Venture Global to a “moderate sell” rating in a research note on Monday, December 15th. Eight investment analysts have rated the stock with a Buy rating, seven have issued a Hold rating and two have issued a Sell rating to the stock. According to data from MarketBeat.com, the stock has an average rating of “Hold” and a consensus price target of $13.11.

Venture Global Stock Performance

The stock has a market capitalization of $21.54 billion and a P/E ratio of 11.28. The company has a quick ratio of 0.77, a current ratio of 0.83 and a debt-to-equity ratio of 3.46. The business has a fifty day moving average price of $7.98 and a 200-day moving average price of $9.97.

Venture Global Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Wednesday, December 31st. Stockholders of record on Monday, December 15th were paid a $0.017 dividend. This represents a $0.07 annualized dividend and a dividend yield of 0.8%. The ex-dividend date was Monday, December 15th. Venture Global’s dividend payout ratio is 8.97%.

Insider Transactions at Venture Global

In other Venture Global news, insider Thomas Earl sold 1,000,000 shares of the firm’s stock in a transaction that occurred on Friday, December 5th. The shares were sold at an average price of $6.89, for a total transaction of $6,890,000.00. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, VP Fory Musser sold 188,337 shares of the firm’s stock in a transaction on Wednesday, November 19th. The shares were sold at an average price of $7.80, for a total transaction of $1,469,028.60. The SEC filing for this sale provides additional information. Over the last ninety days, insiders have sold 1,231,238 shares of company stock worth $8,693,656. Insiders own 86.73% of the company’s stock.

Hedge Funds Weigh In On Venture Global

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in VG. Blue Trust Inc. increased its holdings in shares of Venture Global by 1,750.0% in the 4th quarter. Blue Trust Inc. now owns 3,700 shares of the company’s stock worth $25,000 after buying an additional 3,500 shares during the last quarter. Northwestern Mutual Wealth Management Co. purchased a new stake in shares of Venture Global during the second quarter valued at $26,000. MAI Capital Management purchased a new position in shares of Venture Global during the third quarter worth approximately $29,000. Harbour Investments Inc. purchased a new stake in Venture Global in the fourth quarter worth about $29,000. Finally, UMB Bank n.a. boosted its stake in shares of Venture Global by 161.2% during the third quarter. UMB Bank n.a. now owns 2,949 shares of the company’s stock valued at $42,000 after purchasing an additional 1,820 shares in the last quarter.

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.