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.

Analyst Ratings Changes

VG has been the subject of several analyst reports. Royal Bank of Canada initiated coverage on shares of Venture Global in a research note on Tuesday, February 18th. They issued an “outperform” rating and a $20.00 price objective for the company. StockNews.com cut shares of Venture Global from a “hold” rating to a “sell” rating in a research note on Saturday. Scotiabank dropped their price objective on shares of Venture Global from $17.00 to $15.00 and set a “sector perform” rating for the company in a research note on Friday, March 7th. Guggenheim dropped their price objective on shares of Venture Global from $27.00 to $20.00 and set a “buy” rating for the company in a research note on Monday, March 10th. Finally, Citigroup dropped their price objective on shares of Venture Global from $18.00 to $11.00 and set a “neutral” rating for the company in a research note on Tuesday, March 11th. One equities research analyst has rated the stock with a sell rating, four have assigned a hold rating and seven have given a buy rating to the company’s stock. According to MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $17.55.

Venture Global Stock Up 3.3 %

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

Venture Global Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Monday, March 31st. Investors of record on Monday, March 10th will be given 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 dividend yield of 0.60%.

Insider Activity at Venture Global

In other Venture Global news, insider Michael Sabel acquired 234,500 shares of the stock in a transaction on Friday, March 14th. The shares were purchased at an average price of $10.53 per share, for a total transaction of $2,469,285.00. Following the completion of the acquisition, 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 position. The acquisition was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, insider Robert B. Pender acquired 269,500 shares of the stock in a transaction on Wednesday, March 12th. The shares were acquired at an average price of $10.39 per share, for a total transaction of $2,800,105.00. Following the acquisition, the insider now 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 disclosure for this purchase can be found here. Insiders have purchased 803,000 shares of company stock worth $8,108,260 in the last quarter. 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.