Venture Global (NYSE:VG) Upgraded by Zacks Research to “Strong-Buy” Rating

Venture Global (NYSE:VG) was upgraded by equities research analysts at Zacks Research from a “hold” rating to a “strong-buy” rating in a research report issued on Thursday, Zacks reports.

Other equities analysts also recently issued research reports about the stock. JPMorgan Chase & Co. raised shares of Venture Global from a “neutral” rating to an “overweight” rating and increased their price objective for the company from $16.00 to $17.00 in a research note on Thursday, June 4th. Raymond James Financial reissued an “outperform” rating and set a $16.00 price objective on shares of Venture Global in a report on Wednesday, May 20th. The Goldman Sachs Group set a $18.00 target price on Venture Global in a report on Thursday, May 14th. Weiss Ratings downgraded Venture Global from a “hold (c)” rating to a “hold (c-)” rating in a research report on Monday, July 20th. Finally, US Capital Advisors set a $13.00 price objective on Venture Global in a research note on Friday, May 29th. One equities research analyst has rated the stock with a Strong Buy rating, eight have assigned a Buy rating and seven have assigned a Hold rating to the company’s stock. According to data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average target price of $16.13.

Venture Global Stock Performance

Venture Global stock opened at $15.79 on Thursday. The company has a quick ratio of 1.11, a current ratio of 1.19 and a debt-to-equity ratio of 3.44. The stock has a market cap of $39.47 billion, a PE ratio of 12.43, a P/E/G ratio of 0.63 and a beta of 0.26. Venture Global has a 12-month low of $5.72 and a 12-month high of $17.62. The business’s 50-day moving average price is $13.76 and its two-hundred day moving average price is $13.09.

Venture Global (NYSE:VG) last posted its quarterly earnings results on Monday, August 10th. The company reported $0.51 earnings per share for the quarter, beating analysts’ consensus estimates of $0.50 by $0.01. The company had revenue of $4.58 billion for the quarter. Venture Global had a net margin of 21.24% and a return on equity of 34.08%. As a group, analysts expect that Venture Global will post 1.65 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other Venture Global news, Director Sari Granat sold 200,000 shares of the stock in a transaction that occurred on Thursday, August 13th. The shares were sold at an average price of $13.49, for a total transaction of $2,698,000.00. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, CAO Sarah Blake sold 1,000,000 shares of the business’s stock in a transaction that occurred on Friday, August 14th. The stock was sold at an average price of $14.02, for a total transaction of $14,020,000.00. The SEC filing for this sale provides additional information. Insiders sold a total of 2,340,893 shares of company stock valued at $32,404,567 over the last three months. Insiders own 84.24% of the company’s stock.

Institutional Investors Weigh In On Venture Global

Hedge funds have recently added to or reduced their stakes in the business. Northwestern Mutual Wealth Management Co. bought a new position in shares of Venture Global during the 2nd quarter worth approximately $26,000. LRI Investments LLC bought a new stake in Venture Global in the second quarter valued at $28,000. IFP Advisors Inc acquired a new position in shares of Venture Global during the second quarter valued at about $31,000. Harbour Investments Inc. acquired a new position in shares of Venture Global during the fourth quarter valued at about $29,000. Finally, Rockefeller Capital Management L.P. boosted its position in shares of Venture Global by 218.1% during the 4th quarter. Rockefeller Capital Management L.P. now owns 4,421 shares of the company’s stock worth $30,000 after purchasing an additional 3,031 shares in the last quarter.

Venture Global Company Profile

Venture Global, Inc is a liquefied natural gas (LNG) company that develops, constructs and operates LNG export facilities in the United States. The company sources natural gas from domestic markets, liquefies it at its coastal facilities and supplies LNG to customers in international markets.

Venture Global’s operating and development portfolio is concentrated along the U.S. Gulf Coast. Its Calcasieu Pass LNG facility in Louisiana has entered commercial operations, while its Plaquemines LNG project in Louisiana is being developed and brought into service.