Why These Energy Stocks are Losing This Week

5. Venture Global, Inc. (NYSE:VG)

Share Price Decline Between Nov. 19 – Nov. 26: 8.24%

Next on our list of Energy Stocks that Lost This Week is Venture Global, Inc. (NYSE:VG), which develops and constructs LNG export projects to provide clean, affordable energy to the world. The company is currently the second-largest LNG exporter in the United States.

On November 24, Citi analyst Spiro Dounis nearly halved the firm’s price target from $16 to $9 while keeping a ‘Neutral’ rating on its shares. The lowered target comes on the back of lower LNG price estimates for next year, as the market braces for a surge in supply, especially from the United States. According to the commodity analysts at Kpler, the global LNG market is heading toward a situation in which demand growth will be outpaced by supply additions, leading to a curb on future investment in new LNG capacity.

That said, Venture Global, Inc. (NYSE:VG) remains optimistic and announced on November 18 that it had filed an application with the U.S. Federal Energy Regulatory Commission for approval to more than double the capacity of its Plaquemines LNG export facility in Louisiana.