Robert B. Pender Purchases 250,000 Shares of Venture Global, Inc. (NYSE:VG) Stock

Venture Global, Inc. (NYSE:VG) insider Robert B. Pender purchased 250,000 shares of the stock in a transaction dated Monday, March 10th. The shares were purchased at an average price of $9.37 per share, for a total transaction of $2,342,500.00. Following the completion of the transaction, the insider now owns 250,000 shares in the company, valued at $2,342,500. This trade represents a ∞ increase in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website.

Venture Global Stock Up 9.6 %

VG stock traded up $0.86 during midday trading on Tuesday, reaching $9.81. The company’s stock had a trading volume of 2,370,900 shares, compared to its average volume of 9,001,671. Venture Global, Inc. has a 52 week low of $8.62 and a 52 week high of $25.50.

Venture Global (NYSE:VG) last released its earnings results on Thursday, March 6th. The company reported $0.33 earnings per share for the quarter, beating the consensus estimate of $0.30 by $0.03. The company had revenue of $1.52 billion during the quarter. As a group, sell-side analysts expect that Venture Global, Inc. will post 0.52 earnings per share for the current fiscal year.

Venture Global Announces Dividend

The company 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 dividend of $0.0165 per share. The ex-dividend date is Monday, March 10th. This represents a $0.07 annualized dividend and a dividend yield of 0.67%.

Wall Street Analyst Weigh In

Several equities analysts have recently weighed in on the stock. JPMorgan Chase & Co. reduced their price objective on shares of Venture Global from $25.00 to $16.00 and set an “overweight” rating for the company in a research report on Friday. StockNews.com cut shares of Venture Global from a “hold” rating to a “sell” rating in a research note on Tuesday, March 4th. 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 price objective for the company. Mizuho lowered their target price on Venture Global from $25.00 to $18.00 and set an “outperform” rating on the stock in a report on Tuesday. Finally, Guggenheim decreased their price target on shares of Venture Global from $27.00 to $20.00 and set a “buy” rating on the stock in a research report on Monday. One equities research 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.com, the company currently has an average rating of “Moderate Buy” and an average target price of $18.82.

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.