Rubric Capital Management LP Invests $23.64 Million in Venture Global, Inc. $VG

Rubric Capital Management LP purchased a new position in shares of Venture Global, Inc. (NYSE:VG) in the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm purchased 1,500,000 shares of the company’s stock, valued at approximately $23,640,000. Rubric Capital Management LP owned about 0.06% of Venture Global as of its most recent filing with the Securities and Exchange Commission.

A number of other large investors also recently bought and sold shares of the business. Kestra Private Wealth Services LLC increased its stake in Venture Global by 8.8% in the first quarter. Kestra Private Wealth Services LLC now owns 12,429 shares of the company’s stock worth $196,000 after purchasing an additional 1,004 shares during the period. Summit Financial Wealth Advisors LLC boosted its stake in shares of Venture Global by 8.8% during the fourth quarter. Summit Financial Wealth Advisors LLC now owns 14,336 shares of the company’s stock valued at $98,000 after purchasing an additional 1,161 shares during the period. Federation des caisses Desjardins du Quebec boosted its stake in shares of Venture Global by 11.0% during the fourth quarter. Federation des caisses Desjardins du Quebec now owns 12,254 shares of the company’s stock valued at $84,000 after purchasing an additional 1,215 shares during the period. CWM LLC grew its holdings in shares of Venture Global by 24.1% in the fourth quarter. CWM LLC now owns 7,014 shares of the company’s stock worth $48,000 after purchasing an additional 1,363 shares during the last quarter. Finally, Wells Fargo & Company MN grew its holdings in shares of Venture Global by 1.5% in the fourth quarter. Wells Fargo & Company MN now owns 93,615 shares of the company’s stock worth $638,000 after purchasing an additional 1,407 shares during the last quarter.

Analysts Set New Price Targets

A number of equities research analysts recently weighed in on the stock. Scotiabank lifted their price objective on shares of Venture Global from $13.00 to $15.00 and gave the company a “sector perform” rating in a report on Wednesday, May 13th. Zacks Research upgraded shares of Venture Global from a “hold” rating to a “strong-buy” rating in a research note on Tuesday, July 14th. JPMorgan Chase & Co. raised shares of Venture Global from a “neutral” rating to an “overweight” rating and raised their target price for the stock from $16.00 to $17.00 in a research report on Thursday, June 4th. Royal Bank Of Canada lifted their price target on shares of Venture Global from $14.00 to $16.00 and gave the company an “outperform” rating in a research note on Friday, April 17th. Finally, Morgan Stanley boosted their price target on Venture Global from $20.00 to $22.00 and gave the company an “overweight” rating in a report on Wednesday, May 13th. One equities research analyst has rated the stock with a Strong Buy rating, nine have given a Buy rating and eight have assigned a Hold rating to the company’s stock. According to data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average price target of $16.06.

Venture Global Trading Down 10.6%

VG opened at $12.79 on Tuesday. The company has a current ratio of 0.87, a quick ratio of 0.80 and a debt-to-equity ratio of 3.40. The firm has a market cap of $31.77 billion, a price-to-earnings ratio of 14.21, a PEG ratio of 0.58 and a beta of 0.33. Venture Global, Inc. has a 12 month low of $5.72 and a 12 month high of $17.62. The stock has a fifty day moving average price of $12.50 and a 200-day moving average price of $11.93.

Venture Global (NYSE:VG) last issued its quarterly earnings data on Monday, May 11th. The company reported $0.19 earnings per share for the quarter, beating analysts’ consensus estimates of $0.12 by $0.07. The company had revenue of $4.60 billion for the quarter. Venture Global had a return on equity of 26.90% and a net margin of 16.94%.The firm’s quarterly revenue was up 58.9% compared to the same quarter last year. As a group, equities research analysts anticipate that Venture Global, Inc. will post 1.46 earnings per share for the current fiscal year.

Venture Global Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Tuesday, June 30th. Stockholders of record on Monday, June 15th were issued a $0.018 dividend. This represents a $0.07 dividend on an annualized basis and a dividend yield of 0.6%. The ex-dividend date was Monday, June 15th. Venture Global’s dividend payout ratio (DPR) is currently 7.78%.

Insider Activity

In other news, COO Brian Cothran sold 473,533 shares of Venture Global stock in a transaction that occurred on Tuesday, May 19th. The shares were sold at an average price of $14.81, for a total value of $7,013,023.73. The sale was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, insider Thomas Earl sold 1,000,000 shares of the business’s stock in a transaction that occurred on Wednesday, May 27th. The stock was sold at an average price of $12.44, for a total transaction of $12,440,000.00. The SEC filing for this sale provides additional information. Insiders sold 4,348,288 shares of company stock worth $57,091,496 in the last quarter. 84.24% of the stock is currently owned by corporate insiders.

About Venture Global

Venture Global (NYSE: VG) is a Houston-based energy company that develops, constructs and operates large-scale liquefied natural gas (LNG) export facilities in the United States. The company focuses on converting domestically produced natural gas into LNG for shipment to international markets, positioning itself as a supplier of pipeline-quality gas in vessel-ready form for global customers.

Venture Global’s core activities include site development, engineering and construction of liquefaction and export terminals, commissioning and ongoing operations of those facilities, and commercial marketing of LNG under both long-term and short-term contracts.