Bank of America Has Lowered Expectations for Venture Global (NYSE:VG) Stock Price

Venture Global (NYSE:VG - Get Free Report) had its target price decreased by equities research analysts at Bank of America from $14.00 to $12.00 in a research note issued on Tuesday,Benzinga reports. The firm presently has a "buy" rating on the stock. Bank of America's price objective would indicate a potential upside of 32.89% from the stock's current price.

A number of other research analysts also recently commented on the stock. JPMorgan Chase & Co. dropped their price objective on shares of Venture Global from $16.00 to $15.00 and set an "overweight" rating for the company in a research note on Thursday, April 24th. StockNews.com cut shares of Venture Global from a "hold" rating to a "sell" rating in a research note on Saturday, March 15th. Guggenheim reduced their target price on Venture Global from $27.00 to $20.00 and set a "buy" rating on the stock in a report on Monday, March 10th. Scotiabank dropped their price target on Venture Global from $17.00 to $15.00 and set a "sector perform" rating for the company in a research note on Friday, March 7th. Finally, The Goldman Sachs Group set a $20.00 price objective on Venture Global and gave the company a "buy" rating in a research note on Friday, March 7th. One research analyst has rated the stock with a sell rating, four have issued a hold rating and eight have given a buy rating to the stock. Based on data from MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and an average price target of $16.25.

Venture Global Stock Up 3.8 %

Shares of Venture Global stock traded up $0.33 on Tuesday, hitting $9.03. The company's stock had a trading volume of 824,297 shares, compared to its average volume of 7,922,051. The business has a fifty day moving average of $10.05. Venture Global has a 52-week low of $6.75 and a 52-week high of $25.50.

Venture Global (NYSE:VG - Get Free Report) last issued its quarterly earnings data on Thursday, March 6th. The company reported $0.33 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.30 by $0.03. The company had revenue of $1.52 billion during the quarter. On average, research analysts expect that Venture Global will post 0.52 EPS for the current fiscal year.

Insider Transactions at Venture Global

In other news, insider Michael Sabel bought 234,500 shares of the firm's stock in a transaction on Friday, March 14th. The stock was purchased at an average price of $10.53 per share, for a total transaction of $2,469,285.00. Following the transaction, the insider now owns 1,185,885 shares in the company, valued at approximately $12,487,369.05. This trade represents a 24.65 % increase in their ownership of the stock. The purchase was disclosed in a filing with the SEC, which is accessible through this link. Also, insider Robert B. Pender acquired 269,500 shares of the firm's stock in a transaction that occurred on Wednesday, March 12th. The stock was acquired at an average cost of $10.39 per share, with a total value of $2,800,105.00. Following the completion of the acquisition, the insider now directly owns 719,885 shares in the company, valued at approximately $7,479,605.15. This represents a 59.84 % increase in their ownership of the stock. The disclosure for this purchase can be found here. In the last three months, insiders have acquired 803,000 shares of company stock worth $8,108,260. 86.73% of the stock is currently owned by insiders.

Institutional Inflows and Outflows

Large investors have recently bought and sold shares of the company. Stephens Inc. AR acquired a new position in shares of Venture Global in the first quarter worth about $114,000. Brown Advisory Inc. acquired a new stake in Venture Global during the first quarter valued at $180,000. Envestnet Asset Management Inc. acquired a new stake in shares of Venture Global during the 1st quarter valued at about $2,417,000. Bank of New York Mellon Corp acquired a new stake in Venture Global in the first quarter valued at approximately $18,551,000. Finally, Catalyst Capital Advisors LLC bought a new stake in Venture Global in the first quarter worth $14,285,000.

Venture Global Company Profile

Venture Global has fundamentally reshaped the development and construction of liquefied natural gas production, establishing us as a rapidly growing company delivering critical LNG to the world. Our innovative and disruptive approach, which is both scalable and repeatable, allows us to bring LNG to a global market years faster and at a lower cost.