JPMorgan Chase & Co. Lowers Venture Global (NYSE:VG) Price Target to $10.00

Venture Global (NYSE:VG) had its price objective lowered by stock analysts at JPMorgan Chase & Co. from $16.00 to $10.00 in a research report issued on Wednesday,Benzinga reports. The firm presently has an “overweight” rating on the stock. JPMorgan Chase & Co.‘s target price would indicate a potential upside of 40.77% from the company’s previous close.

VG has been the subject of several other reports. Tudor Pickering upgraded shares of Venture Global to a “hold” rating in a research report on Tuesday, September 2nd. Mizuho restated a “neutral” rating and set a $12.00 price target (down previously from $17.00) on shares of Venture Global in a report on Friday, October 10th. Scotiabank reduced their price target on shares of Venture Global from $13.00 to $12.00 and set a “sector perform” rating on the stock in a research report on Thursday, November 13th. Wells Fargo & Company lowered their price objective on Venture Global from $14.00 to $11.00 and set an “equal weight” rating for the company in a research report on Wednesday, November 12th. Finally, Weiss Ratings reissued a “sell (d+)” rating on shares of Venture Global in a research note on Thursday, November 20th. Eight research analysts have rated the stock with a Buy rating, seven have given a Hold rating and one has assigned a Sell rating to the stock. According to MarketBeat, the stock currently has an average rating of “Hold” and a consensus price target of $15.00.

Venture Global Price Performance

Venture Global stock traded up $0.21 during midday trading on Wednesday, reaching $7.10. The company had a trading volume of 2,663,924 shares, compared to its average volume of 7,823,331. The company has a market capitalization of $17.39 billion and a P/E ratio of 9.11. The firm’s fifty day simple moving average is $10.32 and its 200-day simple moving average is $12.82. Venture Global has a 12-month low of $6.72 and a 12-month high of $25.50. The company has a debt-to-equity ratio of 3.46, a current ratio of 0.83 and a quick ratio of 0.77.

Venture Global (NYSE:VG) last posted 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 net margin of 21.99% and a return on equity of 29.55%. The firm had revenue of $3.33 billion during the quarter, compared to analyst estimates of $3.23 billion. Venture Global’s quarterly revenue was up 259.5% on a year-over-year basis. As a group, equities analysts anticipate that Venture Global will post 0.52 EPS for the current year.

Insider Activity

In related news, VP Fory Musser sold 776,298 shares of the company’s stock in a transaction that occurred on Monday, November 17th. The shares were sold at an average price of $8.06, for a total transaction of $6,256,961.88. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, insider Thomas Earl sold 840,076 shares of Venture Global stock in a transaction on Thursday, September 11th. The shares were sold at an average price of $13.74, for a total transaction of $11,542,644.24. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold a total of 3,500,000 shares of company stock valued at $36,575,740 in the last three months. 86.73% of the stock is currently owned by corporate insiders.

Hedge Funds Weigh In On Venture Global

A number of large investors have recently modified their holdings of the company. Northwestern Mutual Wealth Management Co. acquired a new position in shares of Venture Global during the second quarter valued at $26,000. AdvisorNet Financial Inc acquired a new stake in Venture Global during the 2nd quarter valued at $28,000. MAI Capital Management purchased a new stake in shares of Venture Global in the third quarter valued at $29,000. UMB Bank n.a. boosted its position in shares of Venture Global by 161.2% in the third quarter. UMB Bank n.a. now owns 2,949 shares of the company’s stock worth $42,000 after buying an additional 1,820 shares during the period. Finally, Delos Wealth Advisors LLC acquired a new stake in Venture Global during the 2nd quarter worth about $45,000.

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.