Venture Global (NYSE:VG) Downgraded to "Hold" Rating by Zacks Research

Key Points

• Zacks Research downgraded Venture Global to “Hold” from “Strong Buy,” although the broader analyst consensus remains “Moderate Buy” with an average price target of $16.12.
• Venture Global reported quarterly EPS of $0.51, slightly above the $0.50 consensus estimate, on revenue of $4.58 billion.
• The stock opened at $13.54, down 1.3%, while insiders sold roughly 2.46 million shares worth $32.5 million over the prior 90 days.

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 report issued on Wednesday,Zacks.com reports.

Several other analysts have also recently commented on VG. JPMorgan Chase & Co. upgraded shares of Venture Global from a "neutral" rating to an "overweight" rating and lifted their price objective for the company from $16.00 to $17.00 in a research note on Thursday, June 4th. Scotiabank increased their price objective on shares of Venture Global from $13.00 to $15.00 and gave the stock a "sector perform" rating in a research note on Wednesday, May 13th. Mizuho raised their target price on shares of Venture Global from $13.00 to $15.00 and gave the stock a "neutral" rating in a report on Wednesday, July 22nd. Raymond James Financial restated an "outperform" rating and set a $16.00 target price on shares of Venture Global in a research report on Wednesday, May 20th. Finally, Wells Fargo & Company upped their price target on shares of Venture Global from $14.00 to $15.00 and gave the company an "equal weight" rating in a report on Wednesday. Nine equities research analysts have rated the stock with a Buy rating and nine have given a Hold rating to the company. Based on data from MarketBeat, the stock has a consensus rating of "Moderate Buy" and a consensus target price of $16.12.

Venture Global Trading Down 1.3%

Shares of NYSE:VG opened at $13.54 on Wednesday. Venture Global has a 52-week low of $5.72 and a 52-week high of $17.62. The stock has a market cap of $33.64 billion, a price-to-earnings ratio of 10.66, a PEG ratio of 0.60 and a beta of 0.22. The company has a quick ratio of 0.80, a current ratio of 0.87 and a debt-to-equity ratio of 3.40. The business has a 50-day moving average price of $12.52 and a 200-day moving average price of $12.38.

Venture Global (NYSE:VG - Get Free Report) last issued its earnings results on Monday, August 10th. The company reported $0.51 EPS for the quarter, beating analysts' consensus estimates of $0.50 by $0.01. Venture Global had a return on equity of 35.79% and a net margin of 21.24%.The firm had revenue of $4.58 billion for the quarter. Equities analysts predict that Venture Global will post 1.53 EPS for the current year.

Insider Activity

In other news, insider Thomas Earl sold 1,000,000 shares of the stock in a transaction dated Wednesday, May 27th. The shares were sold at an average price of $12.44, for a total transaction of $12,440,000.00. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, VP Fory Musser sold 233,735 shares of the firm's stock in a transaction dated Wednesday, May 27th. The shares were sold at an average price of $12.61, for a total value of $2,947,398.35. The disclosure for this sale is available in the SEC filing. Insiders have sold a total of 2,459,399 shares of company stock worth $32,490,384 in the last ninety days. Corporate insiders own 84.24% of the company's stock.

Hedge Funds Weigh In On Venture Global

A number of hedge funds have recently bought and sold shares of the business. Bank of New York Mellon Corp purchased a new stake in shares of Venture Global in the second quarter valued at approximately $14,230,000. Corecam AG purchased a new position in shares of Venture Global during the 2nd quarter valued at approximately $2,401,000. Fort Washington Investment Advisors Inc. OH purchased a new position in shares of Venture Global during the 2nd quarter valued at approximately $1,446,000. Farther Finance Advisors LLC grew its stake in Venture Global by 1,876.8% in the 2nd quarter. Farther Finance Advisors LLC now owns 109,484 shares of the company's stock valued at $1,219,000 after acquiring an additional 115,646 shares during the period. Finally, Seelaus Asset Management LLC acquired a new stake in Venture Global in the 2nd quarter valued at $273,000.

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.

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