Venture Global (NYSE:VG) Shares Gap Up Following Strong Earnings

Venture Global, Inc. (NYSE:VG) shares gapped up prior to trading on Monday after the company announced better than expected quarterly earnings. The stock had previously closed at $9.69, but opened at $11.20. Venture Global shares last traded at $11.4560, with a volume of 11,316,755 shares changing hands.

The company reported $0.41 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.35 by $0.06. Venture Global had a net margin of 21.99% and a return on equity of 29.55%. The firm had revenue of $4.45 billion during the quarter. The firm’s quarterly revenue was up 191.7% compared to the same quarter last year.

Analyst Ratings Changes

Several research firms have weighed in on VG. Raymond James Financial assumed coverage on shares of Venture Global in a research note on Monday, February 2nd. They issued an “outperform” rating and a $11.00 price target for the company. JPMorgan Chase & Co. lowered 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. US Capital Advisors upgraded shares of Venture Global to a “moderate sell” rating in a research note on Monday, December 15th. Capital One Financial initiated coverage on shares of Venture Global in a report on Tuesday, November 4th. They set an “equal weight” rating and a $11.00 price objective on the stock. Finally, Royal Bank Of Canada restated an “outperform” rating and set a $11.00 target price on shares of Venture Global in a research report on Wednesday, January 28th. Eight research analysts have rated the stock with a Buy rating, eight have given a Hold rating and two have issued a Sell rating to the stock. According to MarketBeat.com, the company currently has a consensus rating of “Hold” and a consensus target price of $12.77.

Insider Buying and Selling

In other Venture Global news, insider Thomas Earl sold 1,000,000 shares of the stock in a transaction dated 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 filing with the Securities & Exchange Commission, which is accessible through the SEC website. 86.73% of the stock is currently owned by insiders.

Institutional Inflows and Outflows

Several large investors have recently modified their holdings of the business. Blue Trust Inc. increased its holdings in Venture Global by 1,750.0% during the fourth quarter. Blue Trust Inc. now owns 3,700 shares of the company’s stock valued at $25,000 after buying an additional 3,500 shares during the period. Northwestern Mutual Wealth Management Co. acquired a new stake in shares of Venture Global in the second quarter worth $26,000. MAI Capital Management purchased a new position in shares of Venture Global during the 3rd quarter valued at about $29,000. Harbour Investments Inc. purchased a new position in shares of Venture Global during the 4th quarter valued at approximately $29,000. Finally, UMB Bank n.a. raised its position in shares of Venture Global by 161.2% in the third quarter. UMB Bank n.a. now owns 2,949 shares of the company’s stock worth $42,000 after acquiring an additional 1,820 shares during the period.

Venture Global Stock Up 18.6%

The business has a 50-day simple moving average of $8.58 and a 200-day simple moving average of $9.70. The company has a market cap of $28.13 billion, a PE ratio of 14.73 and a beta of 5.67. The company has a quick ratio of 0.77, a current ratio of 0.83 and a debt-to-equity ratio of 3.46.

Venture Global Company Profile

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.