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

Venture Global, Inc. (NYSE:VG) shares gapped up before the market opened 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.

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

Analyst Ratings Changes

VG has been the topic of several research analyst reports. Deutsche Bank Aktiengesellschaft initiated coverage on shares of Venture Global in a research note on Tuesday, February 18th. They set a “buy” rating and a $19.00 price target on the stock. JPMorgan Chase & Co. decreased their price target on shares of Venture Global from $25.00 to $16.00 and set an “overweight” rating on the stock in a research note on Friday, March 7th. Mizuho decreased their price target on shares of Venture Global from $25.00 to $18.00 and set an “outperform” rating on the stock in a research note on Tuesday. Wells Fargo & Company decreased their price target on shares of Venture Global from $18.00 to $11.00 and set an “equal weight” rating on the stock in a research note on Tuesday. Finally, StockNews.com cut shares of Venture Global from a “hold” rating to a “sell” rating in a research note on Tuesday, March 4th. One investment analyst has rated the stock with a sell rating, four have issued a hold rating and seven have assigned a buy rating to the company. Based on data from MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus price target of $17.55.

Venture Global Trading Down 5.7 %

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

Venture Global Dividend Announcement

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

About Venture Global

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.