JPMorgan Chase & Co. Issues Pessimistic Forecast for Venture Global (NYSE:VG) Stock Price

Venture Global (NYSE:VG) had its price objective cut by equities research analysts at JPMorgan Chase & Co. from $16.00 to $15.00 in a report issued on Thursday,Benzinga reports. The firm currently has an “overweight” rating on the stock. JPMorgan Chase & Co.‘s price target would suggest a potential upside of 74.01% from the company’s current price.

A number of other research firms also recently weighed in on VG. Scotiabank reduced their price target 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. 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 report on Tuesday, March 11th. Wells Fargo & Company lowered their price target on shares of Venture Global from $18.00 to $11.00 and set an “equal weight” rating for the company in a report on Tuesday, March 11th. Bank of America assumed coverage on Venture Global in a report on Tuesday, February 18th. They set a “buy” rating and a $23.00 price objective on the stock. Finally, Guggenheim lowered their target price on Venture Global from $27.00 to $20.00 and set a “buy” rating for the company in a report on Monday, March 10th. One equities research analyst has rated the stock with a sell rating, four have assigned a hold rating and eight have given a buy rating to the stock. According to MarketBeat, Venture Global currently has an average rating of “Moderate Buy” and a consensus target price of $17.17.

Venture Global Price Performance

Shares of VG opened at $8.62 on Thursday. The company’s 50 day moving average price is $10.63. Venture Global has a one year low of $6.75 and a one year high of $25.50.

Venture Global (NYSE:VG) last announced its quarterly earnings data on Thursday, March 6th. The company reported $0.33 earnings per share for the quarter, topping the consensus estimate of $0.30 by $0.03. The business had revenue of $1.52 billion for the quarter. On average, sell-side analysts anticipate that Venture Global will post 0.52 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other news, insider Michael Sabel acquired 234,500 shares of Venture Global stock in a transaction on Friday, March 14th. The stock was acquired at an average cost of $10.53 per share, with a total value of $2,469,285.00. Following the completion of the acquisition, the insider now owns 1,185,885 shares in the company, valued at approximately $12,487,369.05. This trade represents a 24.65 % increase in their ownership of the stock. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Jimmy D. Staton purchased 49,000 shares of the business’s stock in a transaction dated Tuesday, March 11th. The shares were purchased at an average price of $10.13 per share, with a total value of $496,370.00. Following the purchase, the director now directly owns 49,000 shares in the company, valued at $496,370. This trade represents a ∞ increase in their position. The disclosure for this purchase can be found here. In the last ninety days, insiders bought 803,000 shares of company stock valued at $8,108,260. Corporate insiders own 86.73% of the company’s stock.

Institutional Trading of Venture Global

A number of hedge funds and other institutional investors have recently made changes to their positions in the stock. KG&L Capital Management LLC purchased a new position in Venture Global during the first quarter valued at approximately $359,000. Oppenheimer & Co. Inc. purchased a new position in shares of Venture Global during the 1st quarter valued at $247,000. Center for Financial Planning Inc. bought a new position in shares of Venture Global in the first quarter worth $37,000. ORG Wealth Partners LLC purchased a new stake in shares of Venture Global in the first quarter worth $60,000. Finally, Forefront Wealth Management Inc. bought a new stake in Venture Global during the first quarter valued at $938,000.

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.