Venture Global (NYSE:VG) Given New $12.00 Price Target at Wells Fargo & Company

Venture Global (NYSE:VG) had its price target hoisted by Wells Fargo & Company from $11.00 to $12.00 in a report published on Wednesday morning, MarketBeat Ratings reports. They currently have an equal weight rating on the stock.

VG has been the subject of several other reports. StockNews.com downgraded Venture Global from a “hold” rating to a “sell” rating in a report on Saturday, March 15th. Deutsche Bank Aktiengesellschaft assumed coverage on Venture Global in a research note on Tuesday, February 18th. They issued a “buy” rating and a $19.00 target price for the company. Guggenheim decreased their price target on Venture Global from $27.00 to $20.00 and set a “buy” rating on the stock in a research note on Monday, March 10th. Citigroup dropped their price objective on shares of Venture Global from $18.00 to $11.00 and set a “neutral” rating for the company in a research note on Tuesday, March 11th. Finally, Mizuho decreased their target price on shares of Venture Global from $25.00 to $18.00 and set an “outperform” rating on the stock in a research report on Tuesday, March 11th. Two equities research analysts have rated the stock with a sell rating, three have given a hold rating and eight have assigned a buy rating to the stock. According to data from MarketBeat.com, Venture Global has an average rating of “Hold” and an average price target of $15.63.

Venture Global Price Performance

Venture Global stock opened at $10.06 on Wednesday. The stock’s 50-day moving average is $9.38. 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 results on Tuesday, May 13th. The company reported $0.16 EPS for the quarter, missing analysts’ consensus estimates of $0.24 by ($0.08). The firm had revenue of $2.89 billion for the quarter, compared to analyst estimates of $2.83 billion. As a group, sell-side analysts forecast that Venture Global will post 0.52 earnings per share for the current year.

Venture Global Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Monday, March 31st. Stockholders of record on Monday, March 10th were paid a $0.0165 dividend. This represents a $0.07 dividend on an annualized basis and a dividend yield of 0.66%. The ex-dividend date of this dividend was Monday, March 10th.

Insiders Place Their Bets

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

Institutional Investors Weigh In On Venture Global

A number of institutional investors have recently modified their holdings of VG. Allianz Asset Management GmbH bought a new stake in Venture Global in the first quarter valued at about $3,547,294,000. Vanguard Group Inc. bought a new stake in shares of Venture Global in the 1st quarter valued at approximately $125,788,000. Deutsche Bank AG bought a new stake in shares of Venture Global in the 1st quarter valued at approximately $37,798,000. Tortoise Capital Advisors L.L.C. acquired a new stake in shares of Venture Global during the 1st quarter valued at approximately $28,673,000. Finally, Bank of New York Mellon Corp bought a new position in Venture Global during the first quarter worth $18,551,000.

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.