Venture Global (NYSE:VG) Stock Price Expected to Rise, Bank of America Analyst Says

Venture Global (NYSE:VG - Get Free Report) had its target price upped by stock analysts at Bank of America from $12.00 to $18.50 in a report issued on Wednesday,Benzinga reports. The firm currently has a "buy" rating on the stock. Bank of America's price target would indicate a potential upside of 11.92% from the company's current price.

Several other equities research analysts have also weighed in on the company. JPMorgan Chase & Co. lowered their price objective on Venture Global from $16.00 to $15.00 and set an "overweight" rating on the stock in a research note on Thursday, April 24th. Johnson Rice initiated coverage on shares of Venture Global in a research report on Tuesday, June 17th. They issued a "buy" rating and a $20.00 price objective for the company. Scotiabank reduced their target price on shares of Venture Global from $17.00 to $15.00 and set a "sector perform" rating on the stock in a research note on Friday, March 7th. The Goldman Sachs Group decreased their price objective on Venture Global from $20.00 to $17.50 and set a "buy" rating for the company in a research note on Wednesday, May 14th. Finally, Citigroup lowered their target price on shares of Venture Global from $18.00 to $11.00 and set a "neutral" rating for the company in a research note on Tuesday, March 11th. Two investment analysts have rated the stock with a sell rating, four have assigned a hold rating and eight have given a buy rating to the company's stock. According to MarketBeat, the stock presently has a consensus rating of "Hold" and an average price target of $16.77.

Venture Global Stock Down 1.1%

VG stock traded down $0.19 during midday trading on Wednesday, hitting $16.53. The stock had a trading volume of 516,681 shares, compared to its average volume of 7,701,220. Venture Global has a 52 week low of $6.75 and a 52 week high of $25.50. The company has a debt-to-equity ratio of 3.49, a current ratio of 1.73 and a quick ratio of 1.67. The stock's 50-day simple moving average is $11.97.

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

Institutional Inflows and Outflows

Several large investors have recently bought and sold shares of the stock. Renaissance Capital LLC acquired a new stake in shares of Venture Global in the 1st quarter valued at approximately $1,439,000. Defined Wealth Management LLC acquired a new position in Venture Global during the first quarter worth approximately $114,000. Wealth Enhancement Advisory Services LLC bought a new stake in Venture Global in the first quarter valued at approximately $156,000. Exchange Traded Concepts LLC bought a new position in shares of Venture Global during the 1st quarter worth approximately $1,316,000. Finally, Forefront Wealth Management Inc. acquired a new position in shares of Venture Global during the 1st quarter worth approximately $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.

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