Venture Global (NYSE:VG) Shares Gap Up - Time to Buy?

Key Points

• Venture Global's stock price gapped up from $14.56 to $15.42 before trading, with the last recorded price at $15.06 and a volume of over 2.4 million shares.
• Analysts have mixed ratings on the stock, with one sell rating, six hold ratings, and seven buy ratings, resulting in an average target price of $16.85.
• The company reported a quarterly EPS of $0.16, missing analysts' consensus of $0.24, while also announcing a quarterly dividend of $0.0165 per share.

Venture Global, Inc. (NYSE:VG - Get Free Report) gapped up prior to trading on Monday . The stock had previously closed at $14.56, but opened at $15.42. Venture Global shares last traded at $15.06, with a volume of 2,409,242 shares changing hands.

Wall Street Analyst Weigh In

VG has been the subject of several research analyst reports. Royal Bank Of Canada reduced their target price on Venture Global from $15.00 to $14.00 and set an "outperform" rating for the company in a research note on Monday, May 5th. Johnson Rice initiated coverage on Venture Global in a research note on Tuesday, June 17th. They issued a "buy" rating and a $20.00 price target for the company. Wells Fargo & Company reaffirmed a "reduce" rating on shares of Venture Global in a research report on Wednesday, May 14th. Deutsche Bank Aktiengesellschaft downgraded shares of Venture Global from a "buy" rating to a "hold" rating and set a $17.00 price target for the company. in a report on Monday, July 14th. Finally, UBS Group downgraded shares of Venture Global from a "buy" rating to a "neutral" rating and increased their price objective for the company from $14.00 to $18.00 in a research note on Thursday, June 12th. One equities research analyst has rated the stock with a sell rating, six have given a hold rating and seven have issued a buy rating to the company's stock. Based on data from MarketBeat.com, Venture Global currently has an average rating of "Hold" and an average target price of $16.85.

Venture Global Price Performance

The company has a quick ratio of 1.67, a current ratio of 1.73 and a debt-to-equity ratio of 3.49. The stock has a 50-day simple moving average of $15.09.

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 for the quarter, missing analysts' consensus estimates of $0.24 by ($0.08). The firm had revenue of $2.89 billion during the quarter, compared to the consensus estimate of $2.83 billion. As a group, equities analysts expect that Venture Global, Inc. will post 0.52 EPS for the current fiscal year.

Venture Global Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Monday, June 30th. Shareholders of record on Tuesday, June 10th were paid a $0.0165 dividend. This represents a $0.07 annualized dividend and a yield of 0.44%. The ex-dividend date was Tuesday, June 10th.

Institutional Investors Weigh In On Venture Global

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

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