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Venture Global (NYSE:VG) Shares Gap Up After Insider Buying Activity

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Venture Global, Inc. (NYSE:VG - Get Free Report) shares gapped up prior to trading on Thursday after an insider bought additional shares in the company. The stock had previously closed at $10.25, but opened at $10.55. Venture Global shares last traded at $10.42, with a volume of 556,519 shares traded.

Specifically, insider Robert B. Pender acquired 269,500 shares of the business's stock in a transaction dated Wednesday, March 12th. The stock was bought at an average price of $10.39 per share, for a total transaction 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. The trade was a 59.84 % increase in their ownership of the stock. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, insider Robert B. Pender bought 250,000 shares of Venture Global stock in a transaction dated Monday, March 10th. The stock was acquired at an average price of $9.37 per share, with a total value of $2,342,500.00. Following the acquisition, the insider now directly owns 250,000 shares of the company's stock, valued at approximately $2,342,500. This represents a ∞ increase in their ownership of the stock. The disclosure for this purchase can be found here.

Wall Street Analysts Forecast Growth

Several brokerages recently issued reports on VG. Sanford C. Bernstein initiated coverage on Venture Global in a report on Tuesday, February 4th. They set a "market perform" rating and a $20.00 price objective for the company. The Goldman Sachs Group set a $20.00 price target on Venture Global and gave the company a "buy" rating in a research report on Friday, March 7th. Scotiabank lowered their price target on Venture Global from $17.00 to $15.00 and set a "sector perform" rating on the stock in a research report on Friday, March 7th. Royal Bank of Canada started coverage on shares of Venture Global in a research note on Tuesday, February 18th. They issued an "outperform" rating and a $20.00 target price for the company. Finally, Guggenheim reduced 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. 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.com, the stock currently has an average rating of "Moderate Buy" and a consensus target price of $17.55.

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Venture Global Trading Up 2.7 %

Venture Global (NYSE:VG - Get Free Report) last posted 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 firm had revenue of $1.52 billion during the quarter. On average, equities analysts anticipate that Venture Global, Inc. will post 0.52 earnings per share for the current year.

Venture Global Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Monday, March 31st. Investors of record on Monday, March 10th will be issued a $0.0165 dividend. This represents a $0.07 dividend on an annualized basis and a dividend yield of 0.63%. The ex-dividend date is Monday, March 10th.

About Venture Global

(Get Free Report)

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.

Further Reading

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.

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