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

Venture Global (NYSE:VG) had its price target cut by analysts at Citigroup from $18.00 to $11.00 in a research note issued on Tuesday,Benzinga reports. The firm currently has a “neutral” rating on the stock. Citigroup’s price target suggests a potential upside of 7.00% from the company’s current price.

A number of other brokerages have also issued reports on VG. Royal Bank of Canada assumed coverage on shares of Venture Global in a research note on Tuesday, February 18th. They set an “outperform” rating and a $20.00 target price for the company. Mizuho reduced their price objective on Venture Global from $25.00 to $18.00 and set an “outperform” rating for the company in a research report on Tuesday. The Goldman Sachs Group set a $20.00 price objective on Venture Global and gave the company a “buy” rating in a research report on Friday, March 7th. StockNews.com downgraded Venture Global from a “hold” rating to a “sell” rating in a research note on Tuesday, March 4th. Finally, Wells Fargo & Company lowered their price target on Venture Global from $18.00 to $11.00 and set an “equal weight” rating for the company in a research note on Tuesday. One research analyst has rated the stock with a sell rating, four have issued a hold rating and seven have issued a buy rating to the company. According to data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $17.55.

Venture Global Stock Performance

Shares of Venture Global stock opened at $10.28 on Tuesday. Venture Global has a 1 year low of $8.62 and a 1 year high of $25.50.

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

Insider Activity

In other Venture Global news, insider Robert B. Pender purchased 269,500 shares of the stock in a transaction dated Wednesday, March 12th. The shares were bought at an average cost of $10.39 per share, with a total value of $2,800,105.00. Following the completion of the transaction, the insider now owns 719,885 shares in the company, valued at $7,479,605.15. This trade represents a 59.84 % increase in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through 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.