Venture Global (NYSE:VG) Shares Up 9.6% After Insider Buying Activity

Venture Global, Inc. (NYSE:VG)’s stock price traded up 9.6% during mid-day trading on Friday following insider buying activity. The stock traded as high as $10.75 and last traded at $10.61. 1,482,010 shares changed hands during trading, a decline of 84% from the average session volume of 9,048,160 shares. The stock had previously closed at $9.68.

Specifically, insider Michael Sabel bought 234,500 shares of the firm’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 owns 1,185,885 shares of the company’s stock, valued at approximately $12,487,369.05. This represents a 24.65 % increase in their ownership of the stock. The purchase was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, Director Jimmy D. Staton bought 49,000 shares of the firm’s stock in a transaction that occurred on Tuesday, March 11th. The stock was purchased at an average price of $10.13 per share, for a total transaction of $496,370.00. Following the completion of the transaction, the director now directly owns 49,000 shares of the company’s stock, valued at $496,370. This represents a ∞ increase in their position. The disclosure for this purchase can be found here. In other news, insider Robert B. Pender bought 269,500 shares of the firm’s stock in a transaction that occurred on Wednesday, March 12th. The shares were bought 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 approximately $7,479,605.15. This represents a 59.84 % increase in their ownership of the stock. The purchase was disclosed in a legal filing with the SEC, which is available through the SEC website.

Wall Street Analyst Weigh In

A number of research firms have recently commented on VG. Royal Bank of Canada began coverage on Venture Global in a research note on Tuesday, February 18th. They set an “outperform” rating and a $20.00 target price on the stock. Wells Fargo & Company dropped their target price on Venture Global from $18.00 to $11.00 and set an “equal weight” rating on the stock in a research report on Tuesday, March 11th. JPMorgan Chase & Co. dropped their target price on Venture Global from $25.00 to $16.00 and set an “overweight” rating on the stock in a research report on Friday, March 7th. Scotiabank dropped their target price 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. Finally, The Goldman Sachs Group set a $20.00 price objective on Venture Global and gave the company a “buy” rating in a report on Friday, March 7th. One investment analyst has rated the stock with a sell rating, four have given a hold rating and seven have issued a buy rating to the stock. According to MarketBeat, Venture Global has a consensus rating of “Moderate Buy” and a consensus price target of $17.55.

Venture Global Stock Up 10.0 %

Venture Global (NYSE:VG) last released its earnings results on Thursday, March 6th. The company reported $0.33 earnings per share for the quarter, topping analysts’ consensus estimates of $0.30 by $0.03. The business had revenue of $1.52 billion during the quarter. On average, sell-side analysts expect that Venture Global, Inc. will post 0.52 EPS for the current year.

Venture Global Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Monday, March 31st. Shareholders of record on Monday, March 10th will be paid a dividend of $0.0165 per share. This represents a $0.07 dividend on an annualized basis and a yield of 0.62%. The ex-dividend date of this dividend is Monday, March 10th.

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.