Venture Global, Inc. $VG Stock Sold by Crystal Cove Asset Management LLC

Crystal Cove Asset Management LLC lowered its position in shares of Venture Global, Inc. (NYSE:VG) by 54.7% during the third quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 61,044 shares of the company’s stock after selling 73,676 shares during the quarter. Venture Global comprises 1.2% of Crystal Cove Asset Management LLC’s investment portfolio, making the stock its 10th biggest holding. Crystal Cove Asset Management LLC’s holdings in Venture Global were worth $772,000 at the end of the most recent quarter.

A number of other large investors have also recently bought and sold shares of VG. Moors & Cabot Inc. lifted its stake in shares of Venture Global by 3.8% in the 3rd quarter. Moors & Cabot Inc. now owns 40,825 shares of the company’s stock valued at $516,000 after purchasing an additional 1,500 shares during the period. Terril Brothers Inc. bought a new stake in shares of Venture Global during the 3rd quarter valued at about $401,000. Fifth Third Bancorp boosted its position in shares of Venture Global by 51.5% during the 3rd quarter. Fifth Third Bancorp now owns 11,061 shares of the company’s stock valued at $140,000 after purchasing an additional 3,762 shares in the last quarter. Csenge Advisory Group acquired a new stake in Venture Global during the third quarter worth approximately $1,041,000. Finally, AlphaCore Capital LLC acquired a new stake in Venture Global during the third quarter worth approximately $265,000.

Recent Venture Global Headlines

Here are a few of the latest headlines about VG:

• Positive Sentiment: Zacks says rising earnings estimates point to potential near-term upside for VG, and the stock was added to its Rank #1 (Strong Buy) lists, including its income-stock list. Surging Earnings Estimates Signal Upside for Venture Global (VG) Stock New Strong Buy Stocks for November 13th Best Income Stocks to Buy for November 13th
• Positive Sentiment: RBC Capital and Morgan Stanley each assigned Venture Global a Buy rating. Separately, the average analyst price target implies about 32% upside, although price targets are not reliable predictors on their own; Zacks points to earnings-estimate revisions as a more supportive signal. RBC Capital Buy rating Morgan Stanley Buy rating Analyst price target and upside discussion
• Neutral Sentiment: Sanford C. Bernstein reaffirmed its Market Perform rating, offering a more cautious counterpoint to the recent Buy ratings. Sanford C. Bernstein Reaffirms Market Perform Rating for Venture Global

Insiders Place Their Bets

In other Venture Global news, CFO Jonathan Thayer sold 111,111 shares of the stock in a transaction that occurred on Tuesday, October 20th. The stock was sold at an average price of $12.70, for a total value of $1,411,109.70. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, COO Brian Cothran sold 152,660 shares of the firm’s stock in a transaction that occurred on Monday, September 14th. The shares were sold at an average price of $16.15, for a total value of $2,465,459.00. Additional details regarding this sale are available in the official SEC disclosure. Over the last quarter, insiders have sold 1,280,019 shares of company stock worth $17,780,943. Corporate insiders own 84.24% of the company’s stock.

Venture Global Price Performance

Shares of NYSE VG opened at $13.17 on Friday. The firm’s 50-day moving average price is $13.43 and its 200-day moving average price is $12.83. Venture Global, Inc. has a 1-year low of $5.72 and a 1-year high of $17.62. The firm has a market capitalization of $32.92 billion, a P/E ratio of 7.94 and a beta of 0.22. The company has a current ratio of 0.90, a quick ratio of 1.11 and a debt-to-equity ratio of 2.96.

Venture Global (NYSE:VG) last issued its earnings results on Monday, November 9th. The company reported $0.96 EPS for the quarter, beating the consensus estimate of $0.50 by $0.46. The company had revenue of $4.76 billion during the quarter. Venture Global had a return on equity of 39.19% and a net margin of 31.11%. The business’s quarterly revenue was up 42.9% on a year-over-year basis. During the same quarter in the prior year, the business earned $0.16 earnings per share. Equities research analysts anticipate that Venture Global, Inc. will post 1.94 earnings per share for the current fiscal year.

Venture Global Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Thursday, December 31st. Investors of record on Tuesday, December 15th will be paid a dividend of $0.04 per share. This represents a $0.16 dividend on an annualized basis and a yield of 1.2%. The ex-dividend date of this dividend is Tuesday, December 15th. Venture Global’s dividend payout ratio is 7.73%.

Wall Street Analyst Weigh In

A number of equities research analysts have weighed in on VG shares. Scotiabank lifted their target price on Venture Global from $15.00 to $16.00 and gave the stock a “sector perform” rating in a report on Thursday, September 10th. The Goldman Sachs Group reissued a “buy” rating on shares of Venture Global in a research note on Friday, October 9th. Sanford C. Bernstein restated a “market perform” rating and set a $14.00 price target on shares of Venture Global in a report on Tuesday. Weiss Ratings raised shares of Venture Global from a “hold (c-)” rating to a “hold (c)” rating in a research report on Monday, September 28th. Finally, Wells Fargo & Company raised shares of Venture Global from an “equal weight” rating to an “overweight” rating and raised their price objective for the stock from $15.00 to $21.00 in a research report on Tuesday, October 20th. Ten research analysts have rated the stock with a Buy rating and six have assigned a Hold rating to the company’s stock. According to MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $16.87.

About Venture Global

Venture Global, Inc. is a U.S. liquefied natural gas (LNG) company that develops, constructs and operates facilities to produce and export LNG. Its activities include sourcing natural gas, processing it into LNG and delivering the fuel to customers in international markets, often through long-term supply agreements. Founded in 2013, the company is based in Arlington, Virginia, and focuses its LNG projects on Louisiana’s Gulf Coast. Its facilities include Calcasieu Pass and Plaquemines LNG, while it is also developing additional export capacity, including the proposed CP2 project.