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

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

A number of other equities research analysts have also issued reports on VG. Royal Bank of Canada assumed coverage on shares of Venture Global in a research note on Tuesday, February 18th. They set an “outperform” rating and a $20.00 target price for the company. JPMorgan Chase & Co. decreased their price objective on shares of Venture Global from $25.00 to $16.00 and set an “overweight” rating for the company in a report on Friday, March 7th. Mizuho decreased their price objective on shares of Venture Global from $25.00 to $18.00 and set an “outperform” rating for the company in a report on Tuesday. Bank of America started coverage on shares of Venture Global in a report on Tuesday, February 18th. They issued a “buy” rating and a $23.00 price objective for the company. Finally, Guggenheim decreased their price objective on shares of Venture Global from $27.00 to $20.00 and set a “buy” rating for the company in a report on Monday. One research analyst has rated the stock with a sell rating, four have assigned a hold rating and seven have assigned a buy rating to the company. Based on data from MarketBeat.com, Venture Global presently has an average rating of “Moderate Buy” and an average price target of $17.55.

Venture Global Price Performance

Venture Global stock opened at $9.67 on Tuesday. Venture Global has a 52 week low of $8.62 and a 52 week high of $25.50.

Venture Global (NYSE:VG) last posted its quarterly earnings data on Thursday, March 6th. The company reported $0.33 EPS for the quarter, topping analysts’ consensus estimates of $0.30 by $0.03. The firm had revenue of $1.52 billion during the quarter. On average, research analysts anticipate that Venture Global will post 0.52 EPS for the current fiscal year.

Venture Global Dividend Announcement

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

Insider Buying and Selling

In other Venture Global news, Director Jimmy D. Staton purchased 49,000 shares of the company’s stock in a transaction that occurred on Tuesday, March 11th. The stock was purchased at an average price of $10.13 per share, with a total value of $496,370.00. Following the completion of the transaction, the director now directly owns 49,000 shares of the company’s stock, valued at approximately $496,370. This trade represents a ∞ increase in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, insider Robert B. Pender purchased 269,500 shares of the company’s stock in a transaction that occurred on Wednesday, March 12th. The stock was acquired at an average cost of $10.39 per share, with a total value of $2,800,105.00. Following the transaction, the insider now directly owns 719,885 shares of the company’s stock, valued at approximately $7,479,605.15. This represents a 59.84 % increase in their ownership of the stock. The disclosure for this purchase can be found here. Insiders acquired 568,500 shares of company stock valued at $5,638,975 over the last quarter. Corporate insiders own 4.72% of the company’s stock.

Venture Global Company Profile

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.