Venture Global (NYSE:VG) Stock Price Down 5.4% – Here’s Why

Venture Global, Inc. (NYSE:VG) shares dropped 5.4% on Thursday . The stock traded as low as $10.62 and last traded at $10.63. Approximately 3,239,727 shares traded hands during trading, a decline of 63% from the average daily volume of 8,698,186 shares. The stock had previously closed at $11.24.

Analyst Ratings Changes

Several equities analysts recently issued reports on VG shares. Royal Bank of Canada initiated coverage on shares of Venture Global in a report on Tuesday, February 18th. They issued an “outperform” rating and a $20.00 target price on the stock. Mizuho dropped their price objective on Venture Global from $25.00 to $18.00 and set an “outperform” rating on the stock in a research note on Tuesday, March 11th. Sanford C. Bernstein initiated coverage on Venture Global in a report on Tuesday, February 4th. They issued a “market perform” rating and a $20.00 target price for the company. Scotiabank dropped their price target on Venture Global from $17.00 to $15.00 and set a “sector perform” rating on the stock in a research note on Friday, March 7th. Finally, Deutsche Bank Aktiengesellschaft started coverage on shares of Venture Global in a research report on Tuesday, February 18th. They set a “buy” rating and a $19.00 price objective for the company. 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 company’s stock. According to data from MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus target price of $17.55.

Venture Global Price Performance

Venture Global (NYSE:VG) last announced its quarterly earnings results 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. Sell-side analysts forecast that Venture Global, Inc. will post 0.52 earnings per share for the current fiscal year.

Venture Global Announces Dividend

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 annualized dividend and a dividend yield of 0.67%.

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 stock was acquired at an average cost of $10.39 per share, with a total value of $2,800,105.00. Following the transaction, the insider now owns 719,885 shares of the company’s stock, valued at approximately $7,479,605.15. This trade represents a 59.84 % increase in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider Michael Sabel bought 234,500 shares of the company’s stock in a transaction on Friday, March 14th. The shares were purchased at an average cost of $10.53 per share, for a total transaction of $2,469,285.00. Following the transaction, 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 ownership of the stock. The disclosure for this purchase can be found here. In the last three months, insiders purchased 803,000 shares of company stock valued at $8,108,260. 4.72% of the stock is owned by insiders.

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.