Stock Traders Purchase Large Volume of Venture Global Call Options (NYSE:VG)

Venture Global, Inc. (NYSE:VG) was the target of unusually large options trading activity on Friday. Stock investors bought 12,442 call options on the company. This is an increase of approximately 74% compared to the typical daily volume of 7,137 call options.

Wall Street Analysts Forecast Growth

A number of research firms have recently commented on VG. Guggenheim cut their target price 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. JPMorgan Chase & Co. lowered their target price on Venture Global from $25.00 to $16.00 and set an “overweight” rating on the stock in a report on Friday, March 7th. StockNews.com downgraded Venture Global from a “hold” rating to a “sell” rating in a research report on Saturday, March 15th. Deutsche Bank Aktiengesellschaft initiated coverage on Venture Global in a report on Tuesday, February 18th. They issued a “buy” rating and a $19.00 target price for the company. Finally, Mizuho reduced their price target on Venture Global from $25.00 to $18.00 and set an “outperform” rating on the stock in a report on Tuesday, March 11th. 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 company. According to MarketBeat, the stock has an average rating of “Moderate Buy” and an average target price of $17.55.

Insider Transactions at Venture Global

In other Venture Global news, insider Michael Sabel bought 234,500 shares of Venture Global stock in a transaction dated Friday, March 14th. The stock was acquired at an average cost of $10.53 per share, with a total value of $2,469,285.00. Following the purchase, the insider now directly owns 1,185,885 shares in the company, valued at $12,487,369.05. This represents a 24.65 % increase in their position. The acquisition was disclosed in a filing with the SEC, which is available through the SEC website. Also, Director Jimmy D. Staton purchased 49,000 shares of the company’s stock in a transaction that occurred on Tuesday, March 11th. The stock was bought at an average cost of $10.13 per share, for a total transaction of $496,370.00. Following the purchase, the director now directly owns 49,000 shares in the company, valued at $496,370. This trade represents a ∞ increase in their position. The disclosure for this purchase can be found here. Insiders have bought 803,000 shares of company stock valued at $8,108,260 in the last 90 days. 4.72% of the stock is currently owned by company insiders.

Venture Global Stock Performance

Shares of NYSE:VG traded down $0.58 during trading on Friday, hitting $10.07. The company’s stock had a trading volume of 4,400,433 shares, compared to its average volume of 8,666,053. Venture Global has a fifty-two week low of $8.62 and a fifty-two week high of $25.50.

Venture Global (NYSE:VG) last announced 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 company had revenue of $1.52 billion during the quarter. Equities analysts expect that Venture Global will post 0.52 EPS for the current year.

Venture Global Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Monday, March 31st. Shareholders of record on Monday, March 10th will be paid a $0.0165 dividend. This represents a $0.07 dividend on an annualized basis and a yield of 0.66%. The ex-dividend date is Monday, March 10th.

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.