Venture Global (NYSE:VG) Shares Gap Down – What’s Next?

Venture Global, Inc. (NYSE:VG)’s share price gapped down prior to trading on Monday . The stock had previously closed at $10.71, but opened at $10.47. Venture Global shares last traded at $10.59, with a volume of 445,764 shares trading hands.

Analyst Upgrades and Downgrades

Several research analysts have recently commented on the stock. Deutsche Bank Aktiengesellschaft assumed 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. The Goldman Sachs Group set a $20.00 price target on shares of Venture Global and gave the stock a “buy” rating in a research note on Friday, March 7th. Guggenheim decreased their price objective on shares of Venture Global from $27.00 to $20.00 and set a “buy” rating for the company in a report on Monday, March 10th. StockNews.com downgraded shares of Venture Global from a “hold” rating to a “sell” rating in a report on Saturday. Finally, Wells Fargo & Company decreased their price objective on shares of Venture Global from $18.00 to $11.00 and set an “equal weight” rating for the company in a report on Tuesday, March 11th. One investment analyst has rated the stock with a sell rating, four have given a hold rating and seven have assigned a buy rating to the company. Based on data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $17.55.

Venture Global Price Performance

Venture Global (NYSE:VG) last announced its quarterly earnings data 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 business had revenue of $1.52 billion during the quarter. On average, equities research analysts forecast that Venture Global, Inc. will post 0.52 earnings per share for the current year.

Venture Global Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Monday, March 31st. Investors of record on Monday, March 10th will be issued a dividend of $0.0165 per share. The ex-dividend date of this dividend is Monday, March 10th. This represents a $0.07 dividend on an annualized basis and a dividend yield of 0.60%.

Insider Buying and Selling

In other news, insider Michael Sabel acquired 234,500 shares of the firm’s stock in a transaction dated Friday, March 14th. The stock was bought at an average price of $10.53 per share, with a total value of $2,469,285.00. Following the transaction, the insider now directly owns 1,185,885 shares in the company, valued at approximately $12,487,369.05. The trade was a 24.65 % increase in their position. The purchase was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, Director Jimmy D. Staton acquired 49,000 shares of the firm’s stock in a transaction dated Tuesday, March 11th. The stock was purchased at an average cost of $10.13 per share, with a total value of $496,370.00. Following the transaction, the director now owns 49,000 shares in the company, valued at approximately $496,370. This trade represents a ∞ increase in their ownership of the stock. The disclosure for this purchase can be found here. Insiders have purchased a total of 803,000 shares of company stock worth $8,108,260 over the last ninety days. Company 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.