Wells Fargo & Company Has Lowered Expectations for Venture Global (NYSE:VG) Stock Price

Venture Global (NYSE:VG) had its price target decreased by stock analysts at Wells Fargo & Company from $18.00 to $11.00 in a research report issued to clients and investors on Tuesday,Benzinga reports. The firm presently has an “equal weight” rating on the stock. Wells Fargo & Company‘s target price would suggest a potential upside of 7.00% from the stock’s current price.

A number of other equities analysts have also commented on the stock. Royal Bank of Canada assumed coverage on shares of Venture Global in a research report on Tuesday, February 18th. They set an “outperform” rating and a $20.00 price target on the stock. Bank of America started coverage on shares of Venture Global in a report on Tuesday, February 18th. They set a “buy” rating and a $23.00 target price on the stock. JPMorgan Chase & Co. cut their price target on Venture Global from $25.00 to $16.00 and set an “overweight” rating for the company in a research note on Friday, March 7th. StockNews.com lowered Venture Global from a “hold” rating to a “sell” rating in a research note on Tuesday, March 4th. Finally, The Goldman Sachs Group set a $20.00 target price on Venture Global and gave the company a “buy” rating in a research report on Friday, March 7th. One investment analyst has rated the stock with a sell rating, four have given a hold rating and seven have given a buy rating to the stock. Based on data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $17.55.

Venture Global Price Performance

Shares of NYSE:VG opened at $10.28 on Tuesday. Venture Global has a 12-month low of $8.62 and a 12-month high of $25.50.

Venture Global (NYSE:VG) last released its quarterly earnings results on Thursday, March 6th. The company reported $0.33 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.30 by $0.03. The firm had revenue of $1.52 billion during the quarter. As a group, equities analysts expect that Venture Global will post 0.52 EPS for the current year.

Insider Buying and Selling at Venture Global

In related news, insider Robert B. Pender purchased 269,500 shares of the stock in a transaction dated Wednesday, March 12th. The stock was bought at an average cost of $10.39 per share, for a total transaction of $2,800,105.00. Following the completion of the acquisition, the insider now owns 719,885 shares of the company’s stock, valued at approximately $7,479,605.15. This represents a 59.84 % increase in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Company 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.