Venture Global (NYSE:VG) Shares Gap Up – Here’s What Happened

Venture Global, Inc. (NYSE:VG) gapped up prior to trading on Wednesday . The stock had previously closed at $10.89, but opened at $11.51. Venture Global shares last traded at $11.67, with a volume of 1,507,345 shares.

Analyst Ratings Changes

VG has been the subject of several recent analyst reports. Royal Bank of Canada assumed coverage on Venture Global in a report on Tuesday, February 18th. They issued an “outperform” rating and a $20.00 price target for the company. JPMorgan Chase & Co. lowered their target price on shares of Venture Global from $25.00 to $16.00 and set an “overweight” rating for the company in a research note on Friday, March 7th. 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 research note on Friday, March 7th. 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 for the company. Finally, Citigroup lowered their price objective on shares of Venture Global from $18.00 to $11.00 and set a “neutral” rating for the company in a research note on Tuesday, March 11th. 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 company’s stock. According to MarketBeat.com, Venture Global has a consensus rating of “Moderate Buy” and an average price target of $17.55.

Venture Global Trading Up 3.5 %

Venture Global (NYSE:VG) last posted its earnings results on Thursday, March 6th. The company reported $0.33 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.30 by $0.03. The firm had revenue of $1.52 billion during the quarter. As a group, equities research analysts forecast that Venture Global, Inc. will post 0.52 EPS for the current fiscal year.

Venture Global Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Monday, March 31st. Shareholders 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 0.59%.

Insider Buying and Selling

In other Venture Global news, insider Robert B. Pender purchased 269,500 shares of the stock in a transaction that occurred on Wednesday, March 12th. The shares were purchased at an average cost of $10.39 per share, for a total transaction of $2,800,105.00. Following the completion of the transaction, the insider now owns 719,885 shares of the company’s stock, valued at $7,479,605.15. The trade was a 59.84 % increase in their position. The acquisition was disclosed in a document filed with the SEC, which is available through the SEC website. Also, insider Michael Sabel acquired 234,500 shares of the business’s stock in a transaction on Friday, March 14th. The stock was acquired 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 $12,487,369.05. The trade was a 24.65 % increase in their position. The disclosure for this purchase can be found here. In the last 90 days, insiders acquired 803,000 shares of company stock valued at $8,108,260. 4.72% of the stock is owned by company 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.