Zacks Research Upgrades Venture Global (NYSE:VG) to “Strong-Buy”

Venture Global (NYSE:VG) was upgraded by investment analysts at Zacks Research from a “hold” rating to a “strong-buy” rating in a research report issued to clients and investors on Tuesday,Zacks.com reports.

VG has been the topic of several other research reports. Weiss Ratings raised shares of Venture Global from a “sell (d+)” rating to a “hold (c)” rating in a research note on Friday, May 8th. Wells Fargo & Company upped their target price on shares of Venture Global from $10.00 to $14.00 and gave the company an “equal weight” rating in a research note on Wednesday, March 25th. JPMorgan Chase & Co. raised shares of Venture Global from a “neutral” rating to an “overweight” rating and lifted their price target for the stock from $16.00 to $17.00 in a research report on Thursday, June 4th. Sanford C. Bernstein assumed coverage on shares of Venture Global in a report on Tuesday, June 16th. They issued a “market perform” rating and a $14.00 price target for the company. Finally, Bank of America raised their price objective on Venture Global from $13.00 to $16.00 and gave the stock a “buy” rating in a research note on Friday, March 20th. One analyst has rated the stock with a Strong Buy rating, nine have assigned a Buy rating and eight have given a Hold rating to the company’s stock. According to data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $15.94.

Venture Global Trading Down 2.0%

NYSE:VG opened at $12.97 on Tuesday. The company has a current ratio of 0.87, a quick ratio of 0.80 and a debt-to-equity ratio of 3.40. Venture Global has a 1-year low of $5.72 and a 1-year high of $17.62. The firm has a market capitalization of $32.21 billion, a price-to-earnings ratio of 14.41, a PEG ratio of 0.59 and a beta of 0.33. The business’s 50-day moving average price is $12.31 and its two-hundred day moving average price is $11.53.

Venture Global (NYSE:VG) last posted its earnings results on Monday, May 11th. The company reported $0.19 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.12 by $0.07. The company had revenue of $4.60 billion during the quarter. Venture Global had a return on equity of 26.90% and a net margin of 16.94%.The business’s quarterly revenue was up 58.9% on a year-over-year basis. On average, equities analysts expect that Venture Global will post 1.43 earnings per share for the current year.

Insider Activity at Venture Global

In other Venture Global news, insider Thomas Earl sold 1,000,000 shares of Venture Global stock in a transaction that occurred on Wednesday, May 27th. The shares were sold at an average price of $12.44, for a total value of $12,440,000.00. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, VP Fory Musser sold 2,000,000 shares of the company’s stock in a transaction that occurred on Thursday, May 14th. The shares were sold at an average price of $13.09, for a total transaction of $26,180,000.00. The disclosure for this sale is available in the SEC filing. In the last three months, insiders sold 4,570,511 shares of company stock worth $59,690,394. Corporate insiders own 84.24% of the company’s stock.

Hedge Funds Weigh In On Venture Global

Institutional investors and hedge funds have recently added to or reduced their stakes in the stock. State Street Corp lifted its holdings in shares of Venture Global by 82.7% in the fourth quarter. State Street Corp now owns 10,812,233 shares of the company’s stock valued at $73,739,000 after purchasing an additional 4,893,707 shares in the last quarter. UBS Group AG grew its holdings in shares of Venture Global by 520.8% during the fourth quarter. UBS Group AG now owns 6,279,598 shares of the company’s stock worth $42,827,000 after buying an additional 5,268,053 shares in the last quarter. Geode Capital Management LLC grew its holdings in shares of Venture Global by 5.7% during the fourth quarter. Geode Capital Management LLC now owns 5,101,668 shares of the company’s stock worth $34,811,000 after buying an additional 273,331 shares in the last quarter. Cohen & Steers Inc. raised its position in Venture Global by 4.6% in the 4th quarter. Cohen & Steers Inc. now owns 4,963,166 shares of the company’s stock valued at $33,849,000 after buying an additional 219,505 shares during the last quarter. Finally, MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. acquired a new stake in Venture Global in the 2nd quarter valued at approximately $76,489,000.

Venture Global Company Profile

Venture Global (NYSE: VG) is a Houston-based energy company that develops, constructs and operates large-scale liquefied natural gas (LNG) export facilities in the United States. The company focuses on converting domestically produced natural gas into LNG for shipment to international markets, positioning itself as a supplier of pipeline-quality gas in vessel-ready form for global customers.

Venture Global’s core activities include site development, engineering and construction of liquefaction and export terminals, commissioning and ongoing operations of those facilities, and commercial marketing of LNG under both long-term and short-term contracts.