Citigroup Issues Pessimistic Forecast for Venture Global (NYSE:VG) Stock Price

Venture Global (NYSE:VG - Get Free Report) had its price target decreased by equities researchers at Citigroup from $18.00 to $11.00 in a report released on Tuesday,Benzinga reports. The firm presently has a "neutral" rating on the stock. Citigroup's price objective points to a potential upside of 14.58% from the stock's previous close.

Other equities research analysts have also issued reports about the stock. StockNews.com lowered shares of Venture Global from a "hold" rating to a "sell" rating in a report on Tuesday, March 4th. Bank of America initiated coverage on shares of Venture Global in a research note on Tuesday, February 18th. They issued a "buy" rating and a $23.00 price target for the company. Wells Fargo & Company reduced their price objective on Venture Global from $18.00 to $11.00 and set an "equal weight" rating on the stock in a research note on Tuesday. The Goldman Sachs Group set a $20.00 price objective on Venture Global and gave the stock a "buy" rating in a report on Friday. Finally, Scotiabank dropped their target price on Venture Global from $17.00 to $15.00 and set a "sector perform" rating for the company in a report on Friday. 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. According to data from MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and a consensus target price of $17.55.

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Venture Global Price Performance

VG traded up $0.65 during trading on Tuesday, reaching $9.60. The stock had a trading volume of 8,739,699 shares, compared to its average volume of 9,215,243. Venture Global has a one year low of $8.62 and a one year high of $25.50.

Venture Global (NYSE:VG - Get Free Report) last announced its quarterly earnings data on Thursday, March 6th. The company reported $0.33 EPS for the quarter, beating the consensus estimate of $0.30 by $0.03. The firm had revenue of $1.52 billion for the quarter. As a group, analysts expect that Venture Global will post 0.52 EPS for the current fiscal year.

Insider Activity

In related news, insider Robert B. Pender purchased 250,000 shares of Venture Global stock in a transaction that occurred on Monday, March 10th. The shares were bought at an average price of $9.37 per share, for a total transaction of $2,342,500.00. Following the completion of the transaction, the insider now directly owns 250,000 shares of the company's stock, valued at $2,342,500. This represents a ∞ increase in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Insiders own 4.72% of the company's stock.

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.

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