Venture Global (NYSE:VG) Shares Gap Up - What's Next?

Key Points

• Venture Global shares gapped up from a previous close of $12.07 to an opening of $12.85, following substantial trading activity with a volume of 637,383 shares.
• Analysts have varied ratings on the stock, with the consensus showing a "Hold" rating and a price target of $16.85, despite some analysts giving it a "buy" rating with targets as high as $20.00.
• The company recently declared a quarterly dividend of $0.0165, resulting in an annualized dividend yield of 0.5% for shareholders of record as of June 10th.

Venture Global, Inc. (NYSE:VG - Get Free Report) gapped up prior to trading on Tuesday . The stock had previously closed at $12.07, but opened at $12.85. Venture Global shares last traded at $12.72, with a volume of 637,383 shares changing hands.

Analysts Set New Price Targets

A number of equities research analysts have recently weighed in on VG shares. Wells Fargo & Company lifted their price target on shares of Venture Global from $12.00 to $14.00 and gave the company an "equal weight" rating in a research report on Thursday. Scotiabank boosted their price target on Venture Global from $13.00 to $16.00 and gave the stock a "sector perform" rating in a report on Tuesday, July 15th. The Goldman Sachs Group reduced their price target on shares of Venture Global from $20.00 to $17.50 and set a "buy" rating on the stock in a research note on Wednesday, May 14th. Bank of America increased their price objective on shares of Venture Global from $12.00 to $18.50 and gave the company a "buy" rating in a research note on Wednesday, June 25th. Finally, UBS Group cut shares of Venture Global from a "buy" rating to a "neutral" rating and upped their price target for the company from $14.00 to $18.00 in a research report on Thursday, June 12th. Seven research analysts have rated the stock with a hold rating and seven have given a buy rating to the company's stock. Based on data from MarketBeat.com, Venture Global has an average rating of "Moderate Buy" and an average target price of $17.00.

Venture Global Stock Performance

The business's 50 day simple moving average is $15.65 and its two-hundred day simple moving average is $12.99. The company has a quick ratio of 1.67, a current ratio of 1.39 and a debt-to-equity ratio of 3.38.

Venture Global (NYSE:VG - Get Free Report) last released its quarterly earnings results on Tuesday, May 13th. The company reported $0.16 earnings per share (EPS) 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 analyst estimates of $2.83 billion. Venture Global had a net margin of 18.89% and a return on equity of 22.45%. Equities research analysts predict that Venture Global, Inc. will post 0.52 EPS for the current year.

Venture Global Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Monday, June 30th. Stockholders of record on Tuesday, June 10th were issued a $0.0165 dividend. The ex-dividend date of this dividend was Tuesday, June 10th. This represents a $0.07 annualized dividend and a dividend yield of 0.5%.

Institutional Trading of Venture Global

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

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.