Oppenheimer & Co. Inc. Invests $247,000 in Venture Global, Inc. (NYSE:VG)

Oppenheimer & Co. Inc. bought a new position in shares of Venture Global, Inc. (NYSE:VG) during the first quarter, HoldingsChannel.com reports. The institutional investor bought 23,936 shares of the company’s stock, valued at approximately $247,000.

A number of other institutional investors have also added to or reduced their stakes in the company. Renaissance Capital LLC acquired a new position in shares of Venture Global in the first quarter valued at $1,439,000. Exchange Traded Concepts LLC acquired a new position in shares of Venture Global in the first quarter valued at $1,316,000. Forefront Wealth Management Inc. acquired a new position in shares of Venture Global in the first quarter valued at $938,000. Wealth Enhancement Advisory Services LLC acquired a new position in shares of Venture Global in the first quarter valued at $156,000. Finally, Defined Wealth Management LLC acquired a new position in shares of Venture Global in the first quarter valued at $114,000.

Analysts Set New Price Targets

Several equities analysts have commented on the stock. The Goldman Sachs Group decreased their price objective on shares of Venture Global from $20.00 to $17.50 and set a “buy” rating on the stock in a report on Wednesday, May 14th. Bank of America upped their price objective on shares of Venture Global from $12.00 to $18.50 and gave the company a “buy” rating in a report on Wednesday, June 25th. Guggenheim decreased their price objective on shares of Venture Global from $27.00 to $20.00 and set a “buy” rating on the stock in a report on Monday, March 10th. Citigroup decreased their price target on shares of Venture Global from $18.00 to $11.00 and set a “neutral” rating on the stock in a research note on Tuesday, March 11th. Finally, Wall Street Zen upgraded shares of Venture Global from a “sell” rating to a “hold” rating in a research note on Saturday, June 28th. One analyst has rated the stock with a sell rating, five have given a hold rating and eight have assigned a buy rating to the company’s stock. According to data from MarketBeat, the company presently has an average rating of “Moderate Buy” and an average target price of $16.77.

Venture Global Stock Up 0.6%

VG opened at $15.56 on Friday. Venture Global, Inc. has a twelve month low of $6.75 and a twelve month high of $25.50. The business’s 50-day moving average price is $12.82. The company has a debt-to-equity ratio of 3.49, a current ratio of 1.73 and a quick ratio of 1.67.

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

Venture Global Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Monday, June 30th. Stockholders of record on Tuesday, June 10th were issued a $0.0165 dividend. The ex-dividend date of this dividend was Tuesday, June 10th. This represents a $0.07 dividend on an annualized basis and a dividend yield of 0.42%.

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.