Venture Global (NYSE:VG) Shares Gap Up Following Insider Buying Activity

Shares of Venture Global, Inc. (NYSE:VG) gapped up prior to trading on Thursday following insider buying activity. The stock had previously closed at $10.25, but opened at $10.55. Venture Global shares last traded at $10.42, with a volume of 556,519 shares trading hands.

Specifically, Director Jimmy D. Staton acquired 49,000 shares of the business’s stock in a transaction dated Tuesday, March 11th. The shares were acquired at an average price of $10.13 per share, with a total value of $496,370.00. Following the completion of the transaction, the director now directly owns 49,000 shares in the company, valued at $496,370. This trade represents a ∞ increase in their position. The purchase was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, insider Robert B. Pender bought 269,500 shares of Venture Global stock in a transaction that occurred on Wednesday, March 12th. The shares were acquired at an average price of $10.39 per share, with a total value of $2,800,105.00. Following the acquisition, the insider now directly owns 719,885 shares of the company’s stock, valued at $7,479,605.15. The trade was a 59.84 % increase in their position. The disclosure for this purchase can be found here. In other Venture Global news, insider Robert B. Pender bought 250,000 shares of Venture Global stock in a transaction that occurred on Monday, March 10th. The stock was acquired at an average price of $9.37 per share, for a total transaction of $2,342,500.00. Following the completion of the acquisition, the insider now owns 250,000 shares of the company’s stock, valued at $2,342,500. This trade represents a ∞ increase in their position. The purchase was disclosed in a legal filing with the SEC, which can be accessed through the SEC website.

Analyst Ratings Changes

Several brokerages recently commented on VG. Sanford C. Bernstein began coverage on shares of Venture Global in a report on Tuesday, February 4th. They set a “market perform” rating and a $20.00 target price for the company. Citigroup reduced their target price on shares of Venture Global from $18.00 to $11.00 and set a “neutral” rating for the company in a report on Tuesday. The Goldman Sachs Group set a $20.00 target price on shares of Venture Global and gave the stock a “buy” rating in a report on Friday, March 7th. Deutsche Bank Aktiengesellschaft initiated coverage on shares of Venture Global in a report on Tuesday, February 18th. They set a “buy” rating and a $19.00 target price on the stock. Finally, Scotiabank lowered their target price on shares of Venture Global from $17.00 to $15.00 and set a “sector perform” rating on the stock in a report on Friday, March 7th. One equities research analyst has rated the stock with a sell rating, four have given a hold rating and seven have issued a buy rating to the stock. Based on data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus price target of $17.55.

Venture Global Stock Down 5.7 %

Venture Global (NYSE:VG) last posted its quarterly earnings results on Thursday, March 6th. The company reported $0.33 earnings per share for the quarter, beating analysts’ consensus estimates of $0.30 by $0.03. The business had revenue of $1.52 billion during the quarter. Sell-side analysts forecast that Venture Global, Inc. will post 0.52 EPS for the current fiscal year.

Venture Global Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Monday, March 31st. Investors of record on Monday, March 10th will be issued a dividend of $0.0165 per share. The ex-dividend date of this dividend is Monday, March 10th. This represents a $0.07 annualized dividend and a yield of 0.68%.

Venture Global Company Profile

Venture Global has fundamentally reshaped the development and construction of liquefied natural gas production, establishing us as a rapidly growing company delivering critical LNG to the world. Our innovative and disruptive approach, which is both scalable and repeatable, allows us to bring LNG to a global market years faster and at a lower cost.