Wells Fargo & Company Has Lowered Expectations for Venture Global (NYSE:VG) Stock Price

Venture Global (NYSE:VG) had its price objective cut by Wells Fargo & Company from $14.00 to $11.00 in a report released on Wednesday,Benzinga reports. The brokerage currently has an “equal weight” rating on the stock. Wells Fargo & Company‘s price target points to a potential upside of 40.40% from the stock’s current price.

A number of other analysts also recently commented on VG. Deutsche Bank Aktiengesellschaft upgraded Venture Global from a “hold” rating to a “buy” rating and set a $17.00 target price on the stock in a research report on Thursday, August 28th. UBS Group raised Venture Global from a “neutral” rating to a “buy” rating and set a $18.00 price objective for the company in a research report on Monday, August 25th. Capital One Financial began coverage on Venture Global in a research report on Tuesday, November 4th. They set an “equal weight” rating and a $11.00 target price on the stock. Scotiabank lowered their price target on Venture Global from $16.00 to $13.00 and set a “sector perform” rating for the company in a report on Friday, October 17th. Finally, Weiss Ratings reiterated a “sell (d)” rating on shares of Venture Global in a report on Wednesday, October 8th. Eight analysts have rated the stock with a Buy rating, seven have assigned a Hold rating and one has given a Sell rating to the stock. According to MarketBeat.com, Venture Global currently has a consensus rating of “Hold” and a consensus price target of $15.71.

Venture Global Price Performance

VG stock traded up $0.31 during midday trading on Wednesday, reaching $7.84. The stock had a trading volume of 2,970,560 shares, compared to its average volume of 7,756,020. The company’s fifty day simple moving average is $11.48 and its 200 day simple moving average is $12.90. The company has a market cap of $19.02 billion and a price-to-earnings ratio of 10.05. The company has a current ratio of 0.83, a quick ratio of 1.33 and a debt-to-equity ratio of 3.46. Venture Global has a 52-week low of $6.75 and a 52-week high of $25.50.

Venture Global (NYSE:VG) last issued its quarterly earnings data on Monday, November 10th. The company reported $0.16 EPS for the quarter, missing the consensus estimate of $0.22 by ($0.06). Venture Global had a return on equity of 29.55% and a net margin of 21.99%.The company had revenue of $3.33 billion during the quarter, compared to analyst estimates of $3.23 billion. The business’s quarterly revenue was up 259.5% on a year-over-year basis. As a group, sell-side analysts predict that Venture Global will post 0.52 earnings per share for the current fiscal year.

Insider Buying and Selling

In other news, insider Thomas Earl sold 500,000 shares of the firm’s stock in a transaction on Monday, September 15th. The stock was sold at an average price of $13.69, for a total transaction of $6,845,000.00. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. In the last 90 days, insiders sold 1,500,000 shares of company stock valued at $20,561,011. 86.73% of the stock is owned by company insiders.

Institutional Inflows and Outflows

Several hedge funds have recently added to or reduced their stakes in the business. Bank of New York Mellon Corp purchased a new stake in shares of Venture Global in the 1st quarter valued at approximately $18,551,000. Envestnet Asset Management Inc. purchased a new stake in shares of Venture Global in the first quarter valued at $2,417,000. Brown Advisory Inc. acquired a new stake in shares of Venture Global in the first quarter worth $180,000. Stephens Inc. AR purchased a new position in shares of Venture Global during the first quarter valued at $114,000. Finally, Context Capital Management LLC acquired a new position in Venture Global during the first quarter valued at $768,000.

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.