Venture Global (NYSE:VG) Trading 4.4% Higher - What's Next?

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

Analysts Set New Price Targets

Several brokerages have recently commented on VG. The Goldman Sachs Group set a $20.00 price objective on Venture Global and gave the company a "buy" rating in a research report on Friday, March 7th. Guggenheim reduced their price target on shares of Venture Global from $27.00 to $20.00 and set a "buy" rating on the stock in a research report on Monday, March 10th. Scotiabank lowered their price objective on shares of Venture Global from $17.00 to $15.00 and set a "sector perform" rating for the company in a report on Friday, March 7th. Royal Bank of Canada assumed coverage on shares of Venture Global in a report on Tuesday, February 18th. They set an "outperform" rating and a $20.00 target price on the stock. Finally, Bank of America assumed coverage on shares of Venture Global in a research report on Tuesday, February 18th. They issued a "buy" rating and a $23.00 target price on the stock. One analyst has rated the stock with a sell rating, four have issued a hold rating and seven have issued a buy rating to the stock. According to data from MarketBeat, the stock has an average rating of "Moderate Buy" and an average price target of $17.55.

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Venture Global Trading Down 1.6 %

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, topping the consensus estimate of $0.30 by $0.03. The business had revenue of $1.52 billion during the quarter. As a group, equities analysts predict that Venture Global, Inc. will post 0.52 earnings per share for the current fiscal year.

Venture Global Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, March 31st. Stockholders of record on Monday, March 10th will be given a $0.0165 dividend. The ex-dividend date is Monday, March 10th. This represents a $0.07 dividend on an annualized basis and a dividend yield of 0.58%.

Insider Activity at Venture Global

In other news, insider Michael Sabel purchased 234,500 shares of the company's stock in a transaction that occurred on Friday, March 14th. The shares were bought at an average cost of $10.53 per share, for a total transaction of $2,469,285.00. Following the completion of the transaction, the insider now directly owns 1,185,885 shares of the company's stock, valued at $12,487,369.05. This trade represents a 24.65 % increase in their position. The acquisition was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, insider Robert B. Pender acquired 250,000 shares of the firm's stock in a transaction on Monday, March 10th. The stock was purchased at an average price of $9.37 per share, with a total value of $2,342,500.00. Following the acquisition, the insider now owns 250,000 shares of the company's stock, valued at $2,342,500. This represents a ∞ increase in their position. The disclosure for this purchase can be found here. Insiders acquired a total of 803,000 shares of company stock worth $8,108,260 over the last quarter. 4.72% of the stock is owned by corporate 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.