Venture Global (NYSE:VG) Trading 9.6% Higher Following Insider Buying Activity

Venture Global, Inc. (NYSE:VG) shot up 9.6% on Friday after an insider bought additional shares in the company. The company traded as high as $10.75 and last traded at $10.61. 1,482,010 shares traded hands during trading, a decline of 84% from the average session volume of 9,048,160 shares. The stock had previously closed at $9.68.

Specifically, insider Michael Sabel purchased 234,500 shares of Venture Global stock in a transaction that occurred on Friday, March 14th. The stock was purchased at an average price of $10.53 per share, with a total value of $2,469,285.00. Following the completion of the acquisition, the insider now owns 1,185,885 shares of the company’s stock, valued at approximately $12,487,369.05. This trade represents a 24.65 % increase in their position. The purchase was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, 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 price of $10.13 per share, with a total value of $496,370.00. Following the completion of the purchase, the director now owns 49,000 shares in the company, valued at approximately $496,370. The trade was a ∞ increase in their position. The disclosure for this purchase can be found here. In related news, insider Robert B. Pender acquired 269,500 shares of the firm’s stock in a transaction on Wednesday, March 12th. The stock was bought at an average cost 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 in the company, valued at approximately $7,479,605.15. The trade was a 59.84 % increase in their ownership of the stock. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link.

Wall Street Analyst Weigh In

VG has been the subject of a number of recent research reports. The Goldman Sachs Group set a $20.00 price objective on shares of Venture Global and gave the company a “buy” rating in a research report on Friday, March 7th. StockNews.com cut shares of Venture Global from a “hold” rating to a “sell” rating in a research report on Tuesday, March 4th. Scotiabank lowered their price target on Venture Global from $17.00 to $15.00 and set a “sector perform” rating on the stock in a report on Friday, March 7th. Guggenheim reduced their price target on shares of Venture Global from $27.00 to $20.00 and set a “buy” rating for the company in a research note on Monday, March 10th. Finally, Wells Fargo & Company decreased their target price on Venture Global from $18.00 to $11.00 and set an “equal weight” rating for the company in a research note on Tuesday. One investment analyst has rated the stock with a sell rating, four have assigned a hold rating and seven have issued a buy rating to the company’s stock. Based on data from MarketBeat, Venture Global has a consensus rating of “Moderate Buy” and an average target price of $17.55.

Venture Global Stock Up 10.0 %

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

Venture Global Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, March 31st. Stockholders of record on Monday, March 10th will be given a $0.0165 dividend. This represents a $0.07 dividend on an annualized basis and a dividend yield of 0.62%. 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.