Venture Global (VG -36.05%) stock got hit with heavy sell-offs in Thursday's trading. The liquefied natural gas (LNG) company's share price fell 36% in Thursday trading.

Venture Global stock crashed on the heels of the company's recently published fourth-quarter report. In addition to shortfalls on sales and earnings for the period, the company's guidance also underwhelmed the market -- and investors are worried about costs surrounding a major new project.

Venture Global stock tanks following Q4 release

Venture Global released its Q4 report before the market opened this morning, posting earnings per share of $0.33 on revenue of $1.52 billion. For comparison, the average analyst estimate had targeted earnings per share of $0.76 on sales of $1.92 billion. Venture's sales unexpectedly fell 6.7% year over year in the period, and sales and margin performance came in well below somewhat cautious expectations.

Making matters worse, Venture also raised its cost outlook for its key Louisiana expansion project by roughly $2 billion -- which suggests profitability will continue to come in weaker than expected. The company had its initial public offering (IPO) in January, and the stock is now down 61% from market close on the day of its public debut.

Investors aren't happy with Venture's spending increase

Venture Global paired is fourth-quarter report with news that it now expects the expansions of its Plaquemines liquefied natural gas plant in Louisiana to cost between $23.3 billion and $23.8 billion. The midpoint of the new guidance range represents a $2.1 billion increase compared to its previous guidance range. With the company's first publicly reported quarter missing performance expectations and a higher near-term cost outlook, Venture is seeing bearish pressures intensify. Investors will keep watching how things turn out.