UBS Group Initiates Coverage on Venture Global (NYSE:VG)

Research analysts at UBS Group started coverage on shares of Venture Global (NYSE:VG) in a report issued on Friday,Briefing.com Automated Import reports. The firm set a “buy” rating and a $14.00 price target on the stock. UBS Group’s target price indicates a potential upside of 56.60% from the stock’s current price.

Several other brokerages have also recently commented on VG. StockNews.com cut shares of Venture Global from a “hold” rating to a “sell” rating in a research note on Saturday, March 15th. Sanford C. Bernstein assumed coverage on shares of Venture Global in a research report on Tuesday, February 4th. They set a “market perform” rating and a $20.00 target price for the company. Guggenheim cut their price target on Venture Global from $27.00 to $20.00 and set a “buy” rating on the stock in a research report on Monday, March 10th. Bank of America initiated coverage on Venture Global in a report on Tuesday, February 18th. They issued a “buy” rating and a $23.00 price objective for the company. Finally, Citigroup dropped their target price on Venture Global from $18.00 to $11.00 and set a “neutral” rating on the stock in a report on Tuesday, March 11th. One equities research analyst has rated the stock with a sell rating, four have issued a hold rating and eight have assigned a buy rating to the stock. According to MarketBeat, Venture Global presently has an average rating of “Moderate Buy” and an average price target of $17.25.

Venture Global Stock Down 10.2 %

Shares of VG opened at $8.94 on Friday. The stock’s 50-day moving average price is $13.44. Venture Global has a one year low of $8.62 and a one year high of $25.50.

Venture Global (NYSE:VG) last released its earnings results 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 for the quarter. As a group, equities research analysts expect that Venture Global will post 0.52 earnings per share for the current year.

Insider Activity at Venture Global

In related news, insider Robert B. Pender purchased 269,500 shares of the firm’s stock in a transaction that occurred on Wednesday, March 12th. The shares were purchased at an average cost of $10.39 per share, with a total value of $2,800,105.00. Following the purchase, the insider now owns 719,885 shares of the company’s stock, valued at $7,479,605.15. This represents a 59.84 % increase in their position. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, insider Michael Sabel acquired 234,500 shares of the stock in a transaction that occurred on Friday, March 14th. The stock was purchased at an average price of $10.53 per share, for a total transaction of $2,469,285.00. Following the completion of the acquisition, the insider now owns 1,185,885 shares in the company, valued at $12,487,369.05. The trade was a 24.65 % increase in their position. The disclosure for this purchase can be found here. In the last quarter, insiders have purchased 803,000 shares of company stock valued at $8,108,260. 4.72% of the stock is owned by company insiders.

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.