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

Venture Global, Inc. (NYSE:VG) shares 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.

Analysts Set New Price Targets

Several equities research analysts recently commented on the stock. Royal Bank of Canada assumed coverage on shares of Venture Global in a research report on Tuesday, February 18th. They issued an “outperform” rating and a $20.00 price target for the company. Mizuho dropped their price target on Venture Global from $25.00 to $18.00 and set an “outperform” rating on the stock in a research report on Tuesday, March 11th. Wells Fargo & Company lowered their target price on Venture Global from $18.00 to $11.00 and set an “equal weight” rating on the stock in a research note on Tuesday, March 11th. Bank of America began coverage on shares of Venture Global in a research report on Tuesday, February 18th. They set a “buy” rating and a $23.00 price objective on the stock. Finally, StockNews.com downgraded shares of Venture Global from a “hold” rating to a “sell” rating in a research note on Saturday, March 15th. One 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 data from MarketBeat.com, the company has an average rating of “Moderate Buy” and an average price target of $17.55.

Venture Global Price Performance

Venture Global (NYSE:VG) last released 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 company had revenue of $1.52 billion during the quarter. On average, research analysts predict that Venture Global, Inc. will post 0.52 earnings per share for the current year.

Venture Global Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Monday, March 31st. Shareholders of record on Monday, March 10th will be given a $0.0165 dividend. The ex-dividend date is Monday, March 10th. This represents a $0.07 dividend on an annualized basis and a yield of 0.64%.

Insider Activity at Venture Global

In other news, insider Robert B. Pender acquired 269,500 shares of Venture Global stock in a transaction on Wednesday, March 12th. The shares were purchased at an average price of $10.39 per share, with a total value of $2,800,105.00. Following the acquisition, the insider now owns 719,885 shares in the company, valued at $7,479,605.15. This represents a 59.84 % increase in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, insider Michael Sabel bought 234,500 shares of the company’s stock in a transaction dated Friday, March 14th. The shares were purchased at an average price of $10.53 per share, with a total value of $2,469,285.00. Following the transaction, the insider now owns 1,185,885 shares of the company’s stock, valued at $12,487,369.05. The trade was a 24.65 % increase in their ownership of the stock. The disclosure for this purchase can be found here. Insiders acquired 803,000 shares of company stock valued at $8,108,260 in the last three months. Corporate 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.