Venture Global (NYSE:VG) Trading 3.7% Higher – Here’s What Happened

Shares of Venture Global, Inc. (NYSE:VG) rose 3.7% during trading on Monday . The stock traded as high as $10.35 and last traded at $10.32. Approximately 994,926 shares were traded during mid-day trading, a decline of 88% from the average daily volume of 8,535,928 shares. The stock had previously closed at $9.95.

Wall Street Analysts Forecast Growth

A number of research analysts have weighed in on VG shares. Sanford C. Bernstein assumed coverage on Venture Global in a research note on Tuesday, February 4th. They set a “market perform” rating and a $20.00 price target on the stock. StockNews.com cut shares of Venture Global from a “hold” rating to a “sell” rating in a research report on Saturday, March 15th. Guggenheim dropped 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 report on Monday, March 10th. Scotiabank cut their price target on shares of Venture Global from $17.00 to $15.00 and set a “sector perform” rating on the stock in a research note on Friday, March 7th. Finally, Deutsche Bank Aktiengesellschaft started coverage on shares of Venture Global in a research note on Tuesday, February 18th. They set a “buy” rating and a $19.00 price objective for the company. One equities research analyst has rated the stock with a sell rating, four have issued a hold rating and seven have given a buy rating to the stock. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average price target of $17.55.

Venture Global Stock Down 3.2 %

The business’s fifty day simple moving average is $13.63.

Venture Global (NYSE:VG) last issued its quarterly earnings data on Thursday, March 6th. The company reported $0.33 earnings per share (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. As a group, research analysts expect that Venture Global, Inc. will post 0.52 EPS for the current year.

Venture Global Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Monday, March 31st. Shareholders of record on Monday, March 10th were issued a $0.0165 dividend. The ex-dividend date of this dividend was Monday, March 10th. This represents a $0.07 dividend on an annualized basis and a yield of 0.66%.

Insider Buying and Selling at Venture Global

In related news, insider Michael Sabel purchased 234,500 shares of the company’s stock in a transaction that occurred on Friday, March 14th. The stock was acquired at an average price of $10.53 per share, for a total transaction of $2,469,285.00. Following the completion of the purchase, the insider now owns 1,185,885 shares in the company, valued at approximately $12,487,369.05. This represents a 24.65 % increase in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider Robert B. Pender purchased 269,500 shares of the business’s stock in a transaction that occurred on Wednesday, March 12th. The stock was bought 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 of the company’s stock, 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. Insiders bought a total of 803,000 shares of company stock valued at $8,108,260 in the last ninety days. Insiders own 4.72% of the company’s stock.

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.