Venture Global (NYSE:VG) Trading 10.1% Higher - Here's Why

Venture Global, Inc. (NYSE:VG - Get Free Report)'s stock price was up 10.1% during mid-day trading on Wednesday . The company traded as high as $9.16 and last traded at $9.13. Approximately 1,662,554 shares traded hands during trading, a decline of 81% from the average daily volume of 8,666,154 shares. The stock had previously closed at $8.29.

Analyst Ratings Changes

A number of research firms recently commented on VG. Scotiabank dropped 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. StockNews.com cut shares of Venture Global from a "hold" rating to a "sell" rating in a research report on Saturday, March 15th. Citigroup reduced their price target on shares of Venture Global from $18.00 to $11.00 and set a "neutral" rating on the stock in a research report on Tuesday, March 11th. Sanford C. Bernstein initiated coverage on shares of Venture Global in a research report on Tuesday, February 4th. They set a "market perform" rating and a $20.00 price objective for the company. Finally, Deutsche Bank Aktiengesellschaft started coverage on Venture Global in a report on Tuesday, February 18th. They issued a "buy" rating and a $19.00 target price on the stock. One research analyst has rated the stock with a sell rating, four have issued a hold rating and eight have given a buy rating to the company's stock. According to data from MarketBeat.com, Venture Global currently has an average rating of "Moderate Buy" and an average target price of $17.25.

Venture Global Stock Down 2.9 %

The stock's 50-day moving average price is $11.35.

Venture Global (NYSE:VG - Get Free Report) last issued its quarterly earnings data 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 business had revenue of $1.52 billion during the quarter. As a group, equities analysts expect that Venture Global, Inc. will post 0.52 EPS for the current fiscal year.

Venture Global Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Monday, March 31st. Stockholders of record on Monday, March 10th were issued a dividend of $0.0165 per share. The ex-dividend date of this dividend was Monday, March 10th. This represents a $0.07 dividend on an annualized basis and a dividend yield of 0.77%.

Insider Activity at Venture Global

In related news, insider Robert B. Pender bought 269,500 shares of Venture Global stock in a transaction that occurred on Wednesday, March 12th. The shares were acquired at an average cost of $10.39 per share, for a total transaction of $2,800,105.00. Following the completion of the acquisition, the insider now directly 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 position. The purchase was disclosed in a document filed with the SEC, which is available at the SEC website. Also, insider Michael Sabel purchased 234,500 shares of the stock in a transaction on Friday, March 14th. The shares were purchased at an average price of $10.53 per share, with a total value of $2,469,285.00. Following 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 purchased 803,000 shares of company stock worth $8,108,260 over the last three months. Company insiders own 86.73% of the company's stock.

Institutional Trading of Venture Global

A number of institutional investors have recently bought and sold shares of the company. Defined Wealth Management LLC bought a new position in shares of Venture Global in the 1st quarter worth about $114,000. Wealth Enhancement Advisory Services LLC acquired a new stake in Venture Global during the first quarter worth approximately $156,000. Forefront Wealth Management Inc. bought a new stake in Venture Global in the first quarter worth approximately $938,000. Exchange Traded Concepts LLC acquired a new position in Venture Global in the first quarter valued at approximately $1,316,000. Finally, Renaissance Capital LLC bought a new position in shares of Venture Global during the 1st quarter worth approximately $1,439,000.

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.