Venture Global, Inc. (NYSE:VG) Receives Average Recommendation of “Moderate Buy” from Analysts

Shares of Venture Global, Inc. (NYSE:VG) have earned a consensus rating of “Moderate Buy” from the eleven brokerages that are presently covering the firm, Marketbeat reports. Four analysts have rated the stock with a hold rating and seven have given a buy rating to the company. The average 12 month price objective among analysts that have covered the stock in the last year is $17.55.

Several equities analysts have commented on the stock. 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 research report on Friday, March 7th. Guggenheim dropped their target price on shares of Venture Global from $27.00 to $20.00 and set a “buy” rating on the stock in a report on Monday, March 10th. Royal Bank of Canada assumed coverage on Venture Global in a research report on Tuesday, February 18th. They issued an “outperform” rating and a $20.00 price target on the stock. Citigroup cut their price objective on Venture Global from $18.00 to $11.00 and set a “neutral” rating for the company in a research report on Tuesday, March 11th. Finally, Sanford C. Bernstein assumed coverage on Venture Global in a report on Tuesday, February 4th. They issued a “market perform” rating and a $20.00 target price on the stock.

Venture Global Price Performance

Shares of NYSE VG opened at $11.70 on Friday. Venture Global has a one year low of $8.62 and a one year high of $25.50.

Venture Global (NYSE:VG) last announced its quarterly 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 research analysts anticipate that Venture Global will post 0.52 earnings per share for the current year.

Venture Global Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Monday, March 31st. Shareholders of record on Monday, March 10th will be paid a dividend of $0.0165 per share. The ex-dividend date is Monday, March 10th. This represents a $0.07 dividend on an annualized basis and a yield of 0.56%.

Insider Activity

In related news, insider Robert B. Pender purchased 269,500 shares of the stock in a transaction on Wednesday, March 12th. The shares were purchased at an average cost of $10.39 per share, for a total transaction of $2,800,105.00. Following the completion of the transaction, the insider now directly owns 719,885 shares of the company’s stock, valued at approximately $7,479,605.15. The trade was a 59.84 % increase in their position. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Jimmy D. Staton acquired 49,000 shares of the company’s stock in a transaction on Tuesday, March 11th. The shares were bought 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 directly owns 49,000 shares of the company’s stock, valued at approximately $496,370. This represents a ∞ increase in their ownership of the stock. The disclosure for this purchase can be found here. In the last 90 days, insiders acquired 803,000 shares of company stock worth $8,108,260. 4.72% of the stock is currently owned by corporate insiders.

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.