Wells Fargo & Company Cuts Venture Global (NYSE:VG) Price Target to $11.00

Venture Global (NYSE:VG) had its target price trimmed by Wells Fargo & Company from $18.00 to $11.00 in a research report released on Tuesday morning,Benzinga reports. The brokerage currently has an equal weight rating on the stock.

Several other analysts have also recently commented on VG. Guggenheim decreased their price target on shares of Venture Global from $27.00 to $20.00 and set a “buy” rating on the stock in a research note on Monday. Bank of America initiated coverage on shares of Venture Global in a research note on Tuesday, February 18th. They set a “buy” rating and a $23.00 price target on the stock. The Goldman Sachs Group set a $20.00 price target on shares of Venture Global and gave the company a “buy” rating in a research note on Friday, March 7th. Royal Bank of Canada initiated coverage on shares of Venture Global in a research note on Tuesday, February 18th. They set an “outperform” rating and a $20.00 price target on the stock. Finally, JPMorgan Chase & Co. decreased their price target on shares of Venture Global from $25.00 to $16.00 and set an “overweight” rating on the stock in a research note on Friday, March 7th. One analyst has rated the stock with a sell rating, four have given a hold rating and seven have given a buy rating to the company’s stock. According to MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus price target of $17.55.

Venture Global Trading Down 5.7 %

Shares of Venture Global stock opened at $9.67 on Tuesday. Venture Global has a 1-year low of $8.62 and a 1-year high of $25.50.

Venture Global (NYSE:VG) last issued 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 firm had revenue of $1.52 billion for the quarter. Sell-side analysts forecast that Venture Global will post 0.52 earnings per share for the current fiscal year.

Venture Global Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Monday, March 31st. Investors of record on Monday, March 10th will be given a $0.0165 dividend. This represents a $0.07 dividend on an annualized basis and a yield of 0.68%. The ex-dividend date is Monday, March 10th.

Insider Activity at Venture Global

In other news, Director Jimmy D. Staton acquired 49,000 shares of the firm’s stock in a transaction dated Tuesday, March 11th. The stock was bought at an average price of $10.13 per share, with a total value of $496,370.00. Following the transaction, the director now directly owns 49,000 shares in the company, valued at approximately $496,370. The trade was a ∞ increase in their position. The purchase was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, insider Robert B. Pender acquired 269,500 shares of the firm’s stock in a transaction dated Wednesday, March 12th. The stock was purchased at an average cost of $10.39 per share, with a total value of $2,800,105.00. Following the transaction, the insider now owns 719,885 shares in the company, valued at approximately $7,479,605.15. This trade represents a 59.84 % increase in their ownership of the stock. The disclosure for this purchase can be found here. Over the last 90 days, insiders acquired 568,500 shares of company stock valued at $5,638,975. Corporate insiders own 4.72% of the company’s stock.

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.