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

Venture Global, Inc. (NYSE:VG - Get Free Report) saw unusually large options trading on Friday. Stock investors acquired 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.

Insiders Place Their Bets

In other Venture Global news, insider Michael Sabel purchased 234,500 shares of Venture Global stock in a transaction that occurred on Friday, March 14th. The stock was purchased 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 of the company's stock, valued at approximately $12,487,369.05. This trade represents a 24.65 % increase in their position. The purchase was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, insider Robert B. Pender bought 250,000 shares of the business's stock in a transaction dated Monday, March 10th. The stock was bought at an average price of $9.37 per share, for a total transaction of $2,342,500.00. Following the purchase, the insider now owns 250,000 shares in the company, valued at approximately $2,342,500. This represents a ∞ increase in their position. The disclosure for this purchase can be found here. Insiders have acquired a total of 803,000 shares of company stock valued at $8,108,260 in the last quarter. 4.72% of the stock is currently owned by company insiders.

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Analysts Set New Price Targets

Several research firms have recently commented on VG. Guggenheim lowered their target price on Venture Global from $27.00 to $20.00 and set a "buy" rating for the company in a report on Monday, March 10th. Royal Bank of Canada started coverage on Venture Global in a report on Tuesday, February 18th. They set an "outperform" rating and a $20.00 target price for the company. Citigroup decreased their target price on Venture Global from $18.00 to $11.00 and set a "neutral" rating for the company in a research report on Tuesday, March 11th. Scotiabank cut their price target on 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. Finally, StockNews.com lowered Venture Global from a "hold" rating to a "sell" rating in a report on Saturday, March 15th. One investment analyst has rated the stock with a sell rating, four have given a hold rating and seven have assigned a buy rating to the stock. According to MarketBeat, the company currently has a consensus rating of "Moderate Buy" and an average target price of $17.55.

Venture Global Stock Performance

Shares of NYSE:VG traded down $0.33 during midday trading on Tuesday, reaching $9.97. 3,097,087 shares of the company's stock were exchanged, compared to its average volume of 8,479,647. The business has a 50 day moving average price of $13.72. Venture Global has a 12 month low of $8.62 and a 12 month high of $25.50.

Venture Global (NYSE:VG - Get Free Report) last announced its quarterly earnings results on Thursday, March 6th. The company reported $0.33 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. Sell-side analysts forecast that Venture Global will post 0.52 EPS for the current year.

Venture Global Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Monday, March 31st. Shareholders of record on Monday, March 10th were paid a $0.0165 dividend. This represents a $0.07 dividend on an annualized basis and a dividend yield of 0.66%. The ex-dividend date was 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.