Venture Global (NYSE:VG) Stock Gets Downgrade from Zacks Research

Key Points

• Zacks Research downgraded Venture Global from “strong buy” to “hold,” although the broader analyst consensus remains “moderate buy” with a $16.13 target price.
• Venture Global shares opened at $13.85, with the company reporting quarterly earnings of $0.51 per share, slightly above the $0.50 analyst consensus, and revenue of $4.58 billion.
• Insiders sold 2.49 million shares worth approximately $35.2 million over the past three months, while insiders continue to own a substantial 84.24% stake in the company.

Venture Global (NYSE:VG - Get Free Report) was downgraded by analysts at Zacks Research from a "strong-buy" rating to a "hold" rating in a research note issued to investors on Monday, Zacks reports.

VG has been the topic of several other reports. Royal Bank Of Canada restated an "outperform" rating on shares of Venture Global in a research report on Wednesday, October 7th. Weiss Ratings raised shares of Venture Global from a "hold (c-)" rating to a "hold (c)" rating in a research note on Monday, September 28th. Wells Fargo & Company boosted their target price on Venture Global from $14.00 to $15.00 and gave the company an "equal weight" rating in a research report on Wednesday, August 12th. Mizuho boosted their price objective on Venture Global from $13.00 to $15.00 and gave the company a "neutral" rating in a report on Wednesday, July 22nd. Finally, Sanford C. Bernstein assumed coverage on shares of Venture Global in a research note on Tuesday, June 16th. They set a "market perform" rating and a $14.00 target price for the company. Eight research analysts have rated the stock with a Buy rating and eight have assigned a Hold rating to the company's stock. According to data from MarketBeat, the company currently has an average rating of "Moderate Buy" and a consensus target price of $16.13.

Venture Global Stock Up 5.4%

Shares of VG opened at $13.85 on Monday. Venture Global has a 12-month low of $5.72 and a 12-month high of $17.62. The company has a current ratio of 1.19, a quick ratio of 1.11 and a debt-to-equity ratio of 3.44. The company has a market capitalization of $34.61 billion, a PE ratio of 10.34, a price-to-earnings-growth ratio of 1.58 and a beta of 0.35. The business's 50 day moving average is $13.91 and its 200 day moving average is $13.26.

Venture Global (NYSE:VG - Get Free Report) last issued its earnings results on Monday, August 10th. The company reported $0.51 earnings per share for the quarter, topping analysts' consensus estimates of $0.50 by $0.01. Venture Global had a net margin of 21.24% and a return on equity of 34.08%. The firm had revenue of $4.58 billion during the quarter. Research analysts expect that Venture Global will post 1.73 earnings per share for the current fiscal year.

Insider Buying and Selling at Venture Global

In related news, Director Jimmy D. Staton sold 66,000 shares of the firm's stock in a transaction on Thursday, August 13th. The stock was sold at an average price of $13.35, for a total value of $881,100.00. Following the completion of the transaction, the director owned 1,083,000 shares in the company, valued at $14,458,050. This trade represents a 5.74% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, CFO Jonathan W. Thayer sold 111,111 shares of the firm's stock in a transaction dated Thursday, September 17th. The stock was sold at an average price of $14.40, for a total value of $1,599,998.40. The disclosure for this sale is available in the SEC filing. In the last three months, insiders have sold 2,493,553 shares of company stock valued at $35,242,247. Insiders own 84.24% of the company's stock.

Institutional Investors Weigh In On Venture Global

Several hedge funds have recently added to or reduced their stakes in VG. Courier Capital LLC grew its position in Venture Global by 92.9% during the third quarter. Courier Capital LLC now owns 39,592 shares of the company's stock valued at $500,000 after buying an additional 19,071 shares during the period. Farther Finance Advisors LLC grew its holdings in Venture Global by 17.1% in the third quarter. Farther Finance Advisors LLC now owns 128,183 shares of the company's stock valued at $1,620,000 after purchasing an additional 18,699 shares during the period. Artemis Investment Management LLP raised its stake in shares of Venture Global by 754.3% during the 3rd quarter. Artemis Investment Management LLP now owns 7,143,406 shares of the company's stock worth $90,293,000 after buying an additional 6,307,200 shares during the period. QRG Capital Management Inc. lifted its position in shares of Venture Global by 8.1% during the 2nd quarter. QRG Capital Management Inc. now owns 43,828 shares of the company's stock valued at $488,000 after buying an additional 3,281 shares in the last quarter. Finally, Engineers Gate Manager LP increased its holdings in Venture Global by 69.5% in the 2nd quarter. Engineers Gate Manager LP now owns 352,378 shares of the company's stock worth $3,922,000 after acquiring an additional 144,477 shares in the last quarter.

About Venture Global

Venture Global, Inc NYSE: VG is a U.S. liquefied natural gas (LNG) company that develops, constructs, owns and operates LNG export facilities. The company's business includes sourcing natural gas, processing and liquefying it, and delivering LNG to customers in international energy markets.

Venture Global's principal operations are located along the U.S. Gulf Coast in Louisiana. Its Calcasieu Pass LNG facility began producing LNG in 2022, and the company is also developing the Plaquemines LNG facility near Port Sulphur, Louisiana.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.