Venture Global (NYSE:VG) Price Target Cut to $17.50 by Analysts at The Goldman Sachs Group

Venture Global (NYSE:VG) had its price objective reduced by stock analysts at The Goldman Sachs Group from $20.00 to $17.50 in a report issued on Wednesday,Benzinga reports. The firm presently has a “buy” rating on the stock. The Goldman Sachs Group’s target price suggests a potential upside of 78.21% from the stock’s previous close.

VG has been the subject of several other research reports. JPMorgan Chase & Co. cut their price objective on Venture Global from $16.00 to $15.00 and set an “overweight” rating for the company in a report on Thursday, April 24th. Bank of America lowered their price objective on Venture Global from $14.00 to $12.00 and set a “buy” rating on the stock in a report on Tuesday, April 29th. Royal Bank of Canada decreased their target price on Venture Global from $15.00 to $14.00 and set an “outperform” rating for the company in a research note on Monday, May 5th. Citigroup reduced their price objective on Venture Global from $18.00 to $11.00 and set a “neutral” rating for the company in a research report on Tuesday, March 11th. Finally, Mizuho reduced their price objective on Venture Global from $25.00 to $18.00 and set an “outperform” rating for the company in a research report on Tuesday, March 11th. Two analysts have rated the stock with a sell rating, three have given a hold rating and eight have assigned a buy rating to the company. According to data from MarketBeat, the company presently has a consensus rating of “Hold” and an average price target of $15.63.

Venture Global Stock Down 3.3%

VG stock opened at $9.82 on Wednesday. The firm’s 50-day moving average price is $9.40. Venture Global has a 12-month low of $6.75 and a 12-month high of $25.50.

Venture Global (NYSE:VG) last released its quarterly earnings results on Tuesday, May 13th. The company reported $0.16 EPS for the quarter, missing the consensus estimate of $0.24 by ($0.08). The company had revenue of $2.89 billion during the quarter, compared to analyst estimates of $2.83 billion. On average, research analysts anticipate that Venture Global will post 0.52 earnings per share for the current year.

Insider Activity at Venture Global

In other news, insider Michael Sabel bought 234,500 shares of the stock in a transaction dated Friday, March 14th. The stock was bought at an average cost of $10.53 per share, with a total value of $2,469,285.00. Following the purchase, the insider now owns 1,185,885 shares of the company’s stock, valued at approximately $12,487,369.05. This represents a 24.65% increase in their ownership of the stock. The purchase was disclosed in a filing with the SEC, which is available at the SEC website. Also, insider Robert B. Pender bought 269,500 shares of the 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 completion of the purchase, the insider now directly owns 719,885 shares in the company, valued at approximately $7,479,605.15. This trade represents a 59.84% increase in their position. The disclosure for this purchase can be found here. Insiders acquired 803,000 shares of company stock valued at $8,108,260 in the last three months. Corporate insiders own 86.73% of the company’s stock.

Institutional Inflows and Outflows

Large investors have recently made changes to their positions in the stock. CenterBook Partners LP bought a new position in shares of Venture Global in the 1st quarter worth $4,484,000. Wealth Enhancement Advisory Services LLC bought a new position in shares of Venture Global in the 1st quarter worth $156,000. Catalyst Capital Advisors LLC bought a new position in shares of Venture Global in the 1st quarter worth $14,285,000. Oppenheimer & Co. Inc. bought a new position in shares of Venture Global in the 1st quarter worth $247,000. Finally, Summit Trail Advisors LLC bought a new position in shares of Venture Global in the 1st quarter worth $114,000.

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.