Citigroup Lowers Venture Global (NYSE:VG) Price Target to $11.00

Venture Global (NYSE:VG) had its price objective cut by investment analysts at Citigroup from $18.00 to $11.00 in a research report issued on Tuesday,Benzinga reports. The brokerage presently has a “neutral” rating on the stock. Citigroup’s target price indicates a potential upside of 14.58% from the company’s current price.

Several other equities analysts have also issued reports on the company. The Goldman Sachs Group set a $20.00 price target on Venture Global and gave the stock a “buy” rating in a research report on Friday. Guggenheim decreased their target price on shares of Venture Global from $27.00 to $20.00 and set a “buy” rating for the company in a report on Monday. Bank of America assumed coverage on shares of Venture Global in a research note on Tuesday, February 18th. They issued a “buy” rating and a $23.00 target price on the stock. Scotiabank reduced their price target on shares of Venture Global from $17.00 to $15.00 and set a “sector perform” rating for the company in a research report on Friday. Finally, Royal Bank of Canada started coverage on Venture Global in a research report on Tuesday, February 18th. They issued an “outperform” rating and a $20.00 price objective on the stock. One analyst has rated the stock with a sell rating, four have given a hold rating and seven have issued a buy rating to the company’s stock. According to data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $17.55.

Venture Global Stock Up 7.3 %

Shares of NYSE VG traded up $0.65 on Tuesday, reaching $9.60. 8,739,699 shares of the company’s stock traded hands, compared to its average volume of 9,215,243. Venture Global has a 12 month low of $8.62 and a 12 month high of $25.50.

Venture Global (NYSE:VG) last posted its quarterly earnings data on Thursday, March 6th. The company reported $0.33 earnings per share for the quarter, beating analysts’ consensus estimates of $0.30 by $0.03. The company had revenue of $1.52 billion for the quarter. Analysts predict that Venture Global will post 0.52 earnings per share for the current fiscal year.

Insider Buying and Selling

In other news, insider Robert B. Pender bought 250,000 shares of the company’s stock in a transaction on Monday, March 10th. The shares were acquired at an average cost of $9.37 per share, with a total value of $2,342,500.00. Following the completion of the transaction, the insider now owns 250,000 shares of the company’s stock, valued at approximately $2,342,500. This trade represents a ∞ increase in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. 4.72% of the stock is currently owned by corporate insiders.

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.