Venture Global (NYSE:VG) Shares Up 6.2% Following Analyst Upgrade

Shares of Venture Global, Inc. (NYSE:VG - Get Free Report) traded up 6.2% on Thursday after Bank of America raised their price target on the stock from $12.00 to $18.50. Bank of America currently has a buy rating on the stock. Venture Global traded as high as $17.17 and last traded at $17.16. 961,831 shares changed hands during mid-day trading, a decline of 87% from the average session volume of 7,677,332 shares. The stock had previously closed at $16.16.

Several other research firms have also recently commented on VG. Guggenheim reduced their target price on Venture Global from $27.00 to $20.00 and set a "buy" rating for the company in a research note on Monday, March 10th. JPMorgan Chase & Co. reduced their price objective on shares of Venture Global from $16.00 to $15.00 and set an "overweight" rating on the stock in a research note on Thursday, April 24th. The Goldman Sachs Group decreased their price objective on shares of Venture Global from $20.00 to $17.50 and set a "buy" rating for the company in a report on Wednesday, May 14th. Citigroup cut their target price on shares of Venture Global from $18.00 to $11.00 and set a "neutral" rating on the stock in a research note on Tuesday, March 11th. Finally, Johnson Rice assumed 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. Two research analysts have rated the stock with a sell rating, four have assigned a hold rating and eight have assigned a buy rating to the company's stock. According to data from MarketBeat.com, the stock presently has an average rating of "Hold" and an average price target of $16.77.

Institutional Trading of Venture Global

Several hedge funds have recently added to or reduced their stakes in VG. Exchange Traded Concepts LLC acquired a new position in Venture Global during the 1st quarter valued at about $1,316,000. Forefront Wealth Management Inc. acquired a new position in shares of Venture Global during the first quarter valued at approximately $938,000. KG&L Capital Management LLC bought a new stake in Venture Global during the first quarter worth approximately $359,000. Renaissance Capital LLC bought a new stake in Venture Global during the first quarter worth approximately $1,439,000. Finally, Center for Financial Planning Inc. acquired a new stake in Venture Global in the first quarter worth approximately $37,000.

Venture Global Stock Performance

The business's 50 day simple moving average is $12.28. The company has a quick ratio of 1.67, a current ratio of 1.73 and a debt-to-equity ratio of 3.49.

Venture Global (NYSE:VG - Get Free Report) last released its earnings results on Tuesday, May 13th. The company reported $0.16 EPS for the quarter, missing the consensus estimate 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. On average, equities research analysts predict that Venture Global, Inc. will post 0.52 earnings per share for the current year.

Venture Global Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Monday, June 30th. Investors of record on Tuesday, June 10th will be issued a $0.0165 dividend. This represents a $0.07 dividend on an annualized basis and a dividend yield of 0.42%. The ex-dividend date is Tuesday, June 10th.

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.