Venture Global (NYSE:VG) Trading 9.6% Higher After Insider Buying Activity

Shares of Venture Global, Inc. (NYSE:VG) traded up 9.6% on Friday after an insider bought additional shares in the company. The stock traded as high as $10.75 and last traded at $10.61. 1,482,010 shares changed hands during trading, a decline of 84% from the average session volume of 9,048,160 shares. The stock had previously closed at $9.68.

Specifically, Director Jimmy D. Staton purchased 49,000 shares of the stock in a transaction dated Tuesday, March 11th. The stock was acquired at an average price of $10.13 per share, for a total transaction of $496,370.00. Following the completion of the transaction, the director now owns 49,000 shares of the company’s stock, valued at approximately $496,370. The trade was a ∞ increase in their ownership of the stock. The purchase was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, insider Robert B. Pender bought 269,500 shares of Venture Global stock in a transaction on Wednesday, March 12th. The shares were purchased at an average cost of $10.39 per share, with a total value of $2,800,105.00. Following the completion of the purchase, the insider now directly owns 719,885 shares in the company, valued at $7,479,605.15. This trade represents a 59.84 % increase in their ownership of the stock. The disclosure for this purchase can be found here. In other news, insider Robert B. Pender purchased 250,000 shares of the company’s stock in a transaction on Monday, March 10th. The shares were bought at an average price of $9.37 per share, for a total transaction of $2,342,500.00. Following the completion of the purchase, the insider now owns 250,000 shares of the company’s stock, valued at $2,342,500. This trade represents a ∞ increase in their ownership of the stock. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website.

Analyst Upgrades and Downgrades

A number of brokerages have recently commented on VG. Wells Fargo & Company lowered their price target on Venture Global from $18.00 to $11.00 and set an “equal weight” rating on the stock in a report on Tuesday. 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 report 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. Mizuho dropped 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, StockNews.com lowered Venture Global from a “hold” rating to a “sell” rating in a research note on Tuesday, March 4th. One analyst has rated the stock with a sell rating, four have assigned a hold rating and seven have given a buy rating to the stock. According to MarketBeat, the company currently has an average rating of “Moderate Buy” and an average target price of $17.55.

Venture Global Trading Up 9.8 %

Venture Global (NYSE:VG) last posted its quarterly earnings data on Thursday, March 6th. The company reported $0.33 EPS for the quarter, beating analysts’ consensus estimates of $0.30 by $0.03. The firm had revenue of $1.52 billion for the quarter. On average, research analysts expect that Venture Global, Inc. will post 0.52 EPS for the current year.

Venture Global Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Monday, March 31st. Stockholders of record on Monday, March 10th will be issued a $0.0165 dividend. The ex-dividend date is Monday, March 10th. This represents a $0.07 dividend on an annualized basis and a dividend yield of 0.62%.

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.