PNC Financial Services Group Inc. Has $51,000 Position in Venture Global, Inc. $VG

PNC Financial Services Group Inc. cut its position in shares of Venture Global, Inc. (NYSE:VG) by 77.0% in the second quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 3,300 shares of the company’s stock after selling 11,072 shares during the quarter. PNC Financial Services Group Inc.’s holdings in Venture Global were worth $51,000 as of its most recent SEC filing.

Several other institutional investors have also recently bought and sold shares of the company. Vanguard Group Inc. bought a new position in shares of Venture Global during the 1st quarter worth approximately $125,788,000. Deutsche Bank AG acquired a new position in Venture Global during the first quarter worth $37,798,000. Millennium Management LLC bought a new position in Venture Global in the first quarter valued at $32,099,000. Tortoise Capital Advisors L.L.C. acquired a new stake in Venture Global in the 1st quarter valued at $28,673,000. Finally, Adage Capital Partners GP L.L.C. bought a new stake in Venture Global during the 1st quarter worth about $20,085,000.

Wall Street Analyst Weigh In

VG has been the subject of several analyst reports. UBS Group upgraded Venture Global from a “neutral” rating to a “buy” rating and set a $18.00 price objective for the company in a report on Monday, August 25th. Scotiabank decreased their price target on Venture Global from $13.00 to $12.00 and set a “sector perform” rating for the company in a research note on Thursday, November 13th. JPMorgan Chase & Co. dropped their price objective on Venture Global from $16.00 to $10.00 and set an “overweight” rating on the stock in a research note on Wednesday, November 26th. Mizuho reissued a “neutral” rating and issued a $12.00 price objective (down previously from $17.00) on shares of Venture Global in a report on Friday, October 10th. Finally, Tudor Pickering upgraded shares of Venture Global to a “hold” rating in a report on Tuesday, September 2nd. Eight analysts have rated the stock with a Buy rating, seven have given a Hold rating and one has assigned a Sell rating to the company. Based on data from MarketBeat.com, the stock has a consensus rating of “Hold” and an average price target of $15.00.

Venture Global Stock Performance

VG opened at $6.87 on Tuesday. Venture Global, Inc. has a 12-month low of $6.72 and a 12-month high of $25.50. The stock has a market cap of $16.81 billion and a price-to-earnings ratio of 8.80. The business has a 50 day moving average of $9.78 and a 200-day moving average of $12.73. The company has a quick ratio of 0.77, a current ratio of 0.83 and a debt-to-equity ratio of 3.46.

Venture Global (NYSE:VG) last posted its quarterly earnings results on Monday, November 10th. The company reported $0.16 earnings per share for the quarter, missing analysts’ consensus estimates of $0.22 by ($0.06). Venture Global had a net margin of 21.99% and a return on equity of 29.55%. The business had revenue of $3.33 billion during the quarter, compared to the consensus estimate of $3.23 billion. The business’s revenue was up 259.5% on a year-over-year basis. On average, equities research analysts expect that Venture Global, Inc. will post 0.52 earnings per share for the current year.

Venture Global Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Wednesday, December 31st. Stockholders of record on Monday, December 15th will be paid a dividend of $0.017 per share. This represents a $0.07 dividend on an annualized basis and a dividend yield of 1.0%. The ex-dividend date is Monday, December 15th. Venture Global’s dividend payout ratio (DPR) is currently 8.97%.

Insider Activity

In related news, insider Thomas Earl sold 500,000 shares of the company’s stock in a transaction dated Monday, September 15th. The shares were sold at an average price of $13.69, for a total value of $6,845,000.00. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, VP Fory Musser sold 42,901 shares of the stock in a transaction dated Thursday, November 20th. The shares were sold at an average price of $7.80, for a total transaction of $334,627.80. The disclosure for this sale is available in the SEC filing. Insiders have sold a total of 3,500,000 shares of company stock valued at $36,575,740 in the last ninety days. 86.73% of the stock is currently owned by insiders.

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.