Venture Global (NYSE:VG) Stock Price Up 4.4% – What’s Next?

Venture Global, Inc. (NYSE:VG) shares rose 4.4% during trading on Thursday . The stock traded as high as $11.70 and last traded at $11.69. Approximately 912,823 shares traded hands during mid-day trading, a decline of 90% from the average daily volume of 8,905,607 shares. The stock had previously closed at $11.20.

Wall Street Analyst Weigh In

VG has been the subject of a number of analyst reports. JPMorgan Chase & Co. reduced their price target on Venture Global from $25.00 to $16.00 and set an “overweight” rating for the company in a research report on Friday, March 7th. Mizuho cut their price objective on shares of 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 began coverage on shares of Venture Global in a research note on Tuesday, February 4th. They set a “market perform” rating and a $20.00 price objective on the stock. Scotiabank cut their price objective on shares of 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, Royal Bank of Canada began 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 on the stock. 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 MarketBeat, the stock 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 released its 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 for the quarter. Analysts forecast that Venture Global, Inc. will post 0.52 EPS for the current year.

Venture Global Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Monday, March 31st. Shareholders of record on Monday, March 10th will be paid a dividend of $0.0165 per share. The ex-dividend date of this dividend is Monday, March 10th. This represents a $0.07 annualized dividend and a yield of 0.56%.

Insider Activity

In related news, Director Jimmy D. Staton bought 49,000 shares of Venture Global stock in a transaction that occurred on Tuesday, March 11th. The stock was purchased at an average cost of $10.13 per share, for a total transaction of $496,370.00. Following the acquisition, the director now owns 49,000 shares in the company, valued at $496,370. This trade represents a ∞ increase in their ownership of the stock. The acquisition was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, insider Michael Sabel bought 234,500 shares of Venture Global stock in a transaction that occurred on Friday, March 14th. The stock was bought at an average price of $10.53 per share, with a total value 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. The trade was a 24.65 % increase in their position. The disclosure for this purchase can be found here. Insiders bought a total of 803,000 shares of company stock worth $8,108,260 in the last three months. 4.72% of the stock is owned by insiders.

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.