Wells Fargo & Company Issues Pessimistic Forecast for Venture Global (NYSE:VG) Stock Price

Venture Global (NYSE:VG - Get Free Report) had its price objective reduced by stock analysts at Wells Fargo & Company from $18.00 to $11.00 in a research note issued on Tuesday,Benzinga reports. The firm currently has an "equal weight" rating on the stock. Wells Fargo & Company's target price indicates a potential upside of 11.90% from the stock's current price.

Several other equities research analysts have also weighed in on the company. Bank of America initiated coverage on Venture Global in a research note on Tuesday, February 18th. They set a "buy" rating and a $23.00 price objective for the company. Deutsche Bank Aktiengesellschaft assumed coverage on Venture Global in a research report on Tuesday, February 18th. They issued a "buy" rating and a $19.00 price target for the company. 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. Citigroup initiated coverage on shares of Venture Global in a report on Tuesday, February 18th. They issued a "neutral" rating and a $18.00 target price for the company. Finally, Mizuho cut their price target on shares of Venture Global from $25.00 to $18.00 and set an "outperform" rating on the stock in a report on Tuesday. One research analyst has rated the stock with a sell rating, four have given a hold rating and seven have assigned a buy rating to the company. Based on data from MarketBeat, the company currently has a consensus rating of "Moderate Buy" and a consensus price target of $18.18.

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Venture Global Price Performance

Shares of NYSE:VG traded up $0.88 on Tuesday, hitting $9.83. The company's stock had a trading volume of 4,713,349 shares, compared to its average volume of 9,076,755. Venture Global has a 12 month low of $8.62 and a 12 month high of $25.50.

Venture Global (NYSE:VG - Get Free Report) last announced its earnings results on Thursday, March 6th. The company reported $0.33 EPS for the quarter, topping the consensus estimate of $0.30 by $0.03. The firm had revenue of $1.52 billion for the quarter. Analysts forecast that Venture Global will post 0.52 earnings per share for the current year.

Insider Activity

In other news, insider Robert B. Pender purchased 250,000 shares of Venture Global stock in a transaction dated Monday, March 10th. The stock was acquired at an average cost of $9.37 per share, for a total transaction of $2,342,500.00. Following the acquisition, the insider now directly owns 250,000 shares in the company, valued at $2,342,500. This represents a ∞ increase in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. 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.

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