Insider Buying: Cheniere Energy, Inc. (LNG) CFO Purchases 5,000 Shares of Stock
Cheniere Energy, Inc. (NYSE:LNG) CFO Michael J. Wortley acquired 5,000 shares of the business’s stock in a transaction on Wednesday, August 16th. The shares were purchased at an average cost of $41.96 per share, for a total transaction of $209,800.00. Following the completion of the acquisition, the chief financial officer now directly owns 433,830 shares in the company, valued at $18,203,506.80. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website.
Shares of Cheniere Energy, Inc. (NYSE LNG) traded down 2.47% during trading on Thursday, hitting $41.00. 1,206,772 shares of the company were exchanged. The stock’s market capitalization is $9.53 billion. Cheniere Energy, Inc. has a 1-year low of $35.07 and a 1-year high of $51.41. The company has a 50 day moving average of $45.71 and a 200-day moving average of $46.89.
A number of equities analysts have issued reports on LNG shares. Zacks Investment Research downgraded shares of Cheniere Energy from a “strong-buy” rating to a “hold” rating in a report on Wednesday, July 19th. Scotiabank set a $52.00 price objective on shares of Cheniere Energy and gave the stock a “buy” rating in a report on Friday, July 21st. Credit Suisse Group reaffirmed an “outperform” rating and set a $58.00 price objective (up from $55.00) on shares of Cheniere Energy in a report on Saturday, April 22nd. Barclays PLC lifted their price objective on shares of Cheniere Energy from $53.00 to $58.00 and gave the stock an “overweight” rating in a report on Wednesday, April 19th. Finally, Morgan Stanley downgraded shares of Cheniere Energy from an “overweight” rating to an “equal weight” rating and set a $50.00 price objective on the stock. in a report on Tuesday, June 13th. One research analyst has rated the stock with a sell rating, two have assigned a hold rating and five have given a buy rating to the company’s stock. The stock has an average rating of “Buy” and an average price target of $54.08.
A number of hedge funds and other institutional investors have recently made changes to their positions in LNG. UBS Asset Management Americas Inc. boosted its position in shares of Cheniere Energy by 11.1% in the first quarter. UBS Asset Management Americas Inc. now owns 498,879 shares of the energy company’s stock valued at $23,582,000 after buying an additional 49,801 shares during the last quarter. State of Alaska Department of Revenue purchased a new position in shares of Cheniere Energy during the first quarter valued at about $142,000. Oppenheimer Asset Management Inc. purchased a new position in shares of Cheniere Energy during the first quarter valued at about $341,000. AQR Capital Management LLC purchased a new position in shares of Cheniere Energy during the fourth quarter valued at about $339,000. Finally, Xact Kapitalforvaltning AB boosted its position in shares of Cheniere Energy by 11.7% in the second quarter. Xact Kapitalforvaltning AB now owns 17,547 shares of the energy company’s stock valued at $855,000 after buying an additional 1,834 shares during the last quarter.
About Cheniere Energy
Cheniere Energy, Inc (Cheniere) is an energy company primarily engaged in liquefied natural gas (LNG)-related businesses. The Company operates through two segments: LNG terminal business, and LNG and natural gas marketing business. Its LNG terminal segment consists of the Sabine Pass and Corpus Christi LNG terminals.
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