Venture Global (NYSE:VG) Shares Down 3.6% - Time to Sell?

Venture Global, Inc. (NYSE:VG - Get Free Report)'s stock price was down 3.6% during mid-day trading on Wednesday . The stock traded as low as $16.41 and last traded at $16.42. Approximately 2,594,355 shares traded hands during trading, a decline of 67% from the average daily volume of 7,770,845 shares. The stock had previously closed at $17.04.

Wall Street Analysts Forecast Growth

VG has been the topic of a number of analyst reports. Mizuho cut their price target on Venture Global from $25.00 to $18.00 and set an "outperform" rating on the stock in a research note on Tuesday, March 11th. Deutsche Bank Aktiengesellschaft initiated coverage on Venture Global in a research note on Tuesday, February 18th. They issued a "buy" rating and a $19.00 price target on the stock. Citigroup cut their price target on Venture Global from $18.00 to $11.00 and set a "neutral" rating on the stock in a research note on Tuesday, March 11th. Wall Street Zen downgraded Venture Global from a "hold" rating to a "sell" rating in a research note on Saturday. Finally, The Goldman Sachs Group cut their price target on Venture Global from $20.00 to $17.50 and set a "buy" rating on the stock in a research note on Wednesday, May 14th. Two research analysts have rated the stock with a sell rating, four have given a hold rating and seven have given a buy rating to the company. According to MarketBeat, the company presently has an average rating of "Hold" and an average target price of $15.96.

Venture Global Trading Up 5.4%

The business has a 50-day simple moving average of $10.66.

Venture Global (NYSE:VG - Get Free Report) last announced its quarterly earnings data on Tuesday, May 13th. The company reported $0.16 earnings per share for the quarter, missing analysts' consensus estimates of $0.24 by ($0.08). The company had revenue of $2.89 billion for the quarter, compared to the consensus estimate of $2.83 billion. On average, analysts expect that Venture Global, Inc. will post 0.52 earnings per share for the current year.

Venture Global Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Monday, June 30th. Shareholders of record on Tuesday, June 10th will be paid a $0.0165 dividend. This represents a $0.07 annualized dividend and a yield of 0.37%. The ex-dividend date is Tuesday, June 10th.

Institutional Trading of Venture Global

Several hedge funds have recently made changes to their positions in the business. Renaissance Capital LLC bought a new position in shares of Venture Global during the first quarter valued at approximately $1,439,000. Defined Wealth Management LLC acquired a new stake in shares of Venture Global in the first quarter valued at about $114,000. Wealth Enhancement Advisory Services LLC acquired a new position in Venture Global in the 1st quarter valued at about $156,000. Exchange Traded Concepts LLC purchased a new stake in shares of Venture Global in the 1st quarter valued at approximately $1,316,000. Finally, Forefront Wealth Management Inc. purchased a new stake in Venture Global during the 1st quarter worth approximately $938,000.

About Venture Global

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.