Venture Global (NYSE:VG) Share Price Crosses Above 200-Day Moving Average - Here's What Happened

Key Points

• Venture Global shares moved above their 200-day moving average of $12.81, reaching $13.47 before last trading at $13.28.
• The company reported quarterly EPS of $0.96, beating the $0.50 consensus estimate; revenue rose 42.9% year over year to $4.76 billion.
• Analysts’ consensus rating is “Moderate Buy,” with an average price target of $16.87. The company also announced a $0.04 quarterly dividend per share.

Venture Global, Inc. (NYSE:VG - Get Free Report)'s share price passed above its 200-day moving average during trading on Thursday. The stock has a 200-day moving average of $12.81 and traded as high as $13.47. Venture Global shares last traded at $13.28, with a volume of 14,681,504 shares.

Analyst Upgrades and Downgrades

VG has been the topic of a number of research reports. The Goldman Sachs Group restated a "buy" rating on shares of Venture Global in a research report on Friday, October 9th. Royal Bank Of Canada reaffirmed an "outperform" rating on shares of Venture Global in a report on Wednesday, October 7th. Zacks Research cut Venture Global from a "strong-buy" rating to a "hold" rating in a research note on Monday, October 12th. Scotiabank boosted their price objective on Venture Global from $15.00 to $16.00 and gave the stock a "sector perform" rating in a research note on Thursday, September 10th. Finally, Wells Fargo & Company raised Venture Global from an "equal weight" rating to an "overweight" rating and raised their price objective for the company from $15.00 to $21.00 in a research note on Tuesday, October 20th. Ten equities research analysts have rated the stock with a Buy rating and six have assigned a Hold rating to the company. Based on data from MarketBeat.com, Venture Global presently has an average rating of "Moderate Buy" and an average price target of $16.87.

Venture Global Price Performance

The company has a debt-to-equity ratio of 2.96, a quick ratio of 1.11 and a current ratio of 0.90. The company has a market capitalization of $33.20 billion, a P/E ratio of 6.42 and a beta of 0.22. The firm's fifty day moving average is $13.46 and its 200 day moving average is $12.81.

Venture Global (NYSE:VG - Get Free Report) last announced its quarterly earnings data on Monday, November 9th. The company reported $0.96 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.50 by $0.46. Venture Global had a net margin of 31.11% and a return on equity of 39.19%. The business had revenue of $4.76 billion during the quarter. During the same period in the previous year, the business earned $0.16 EPS. The firm's revenue for the quarter was up 42.9% on a year-over-year basis. As a group, analysts predict that Venture Global, Inc. will post 1.79 earnings per share for the current fiscal year.

Venture Global Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Thursday, December 31st. Stockholders of record on Tuesday, December 15th will be paid a dividend of $0.04 per share. The ex-dividend date of this dividend is Tuesday, December 15th. This represents a $0.16 dividend on an annualized basis and a dividend yield of 1.2%. Venture Global's dividend payout ratio is currently 7.73%.

Insider Transactions at Venture Global

In related news, COO Brian Cothran sold 152,660 shares of the firm's stock in a transaction that occurred on Monday, September 14th. The stock was sold at an average price of $16.15, for a total transaction of $2,465,459.00. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, VP Fory Musser sold 259,413 shares of the firm's stock in a transaction that occurred on Thursday, August 20th. The stock was sold at an average price of $14.26, for a total value of $3,699,229.38. The SEC filing for this sale provides additional information. Over the last three months, insiders have sold 780,019 shares of company stock worth $11,200,943. 84.24% of the stock is currently owned by company insiders.

Institutional Trading of Venture Global

Large investors have recently made changes to their positions in the stock. Corecam AG bought a new stake in shares of Venture Global during the second quarter valued at approximately $2,401,000. Bleakley Financial Group LLC bought a new position in Venture Global in the first quarter worth approximately $2,235,000. Artemis Investment Management LLP grew its stake in Venture Global by 754.3% in the third quarter. Artemis Investment Management LLP now owns 7,143,406 shares of the company's stock worth $90,293,000 after purchasing an additional 6,307,200 shares in the last quarter. Fort Washington Investment Advisors Inc. OH bought a new position in Venture Global in the second quarter worth approximately $1,446,000. Finally, Clough Capital Partners L P purchased a new position in Venture Global during the 1st quarter worth $7,961,000.

About Venture Global

Venture Global, Inc. is a U.S. liquefied natural gas (LNG) company that develops, constructs and operates facilities to produce and export LNG. Its activities include sourcing natural gas, processing it into LNG and delivering the fuel to customers in international markets, often through long-term supply agreements. Founded in 2013, the company is based in Arlington, Virginia, and focuses its LNG projects on Louisiana's Gulf Coast. Its facilities include Calcasieu Pass and Plaquemines LNG, while it is also developing additional export capacity, including the proposed CP2 project.

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