Venture Global (NYSE:VG) Trading Up 4.4% – Time to Buy?

Venture Global, Inc. (NYSE:VG) shares traded up 4.4% on Thursday . The company traded as high as $11.70 and last traded at $11.69. 912,823 shares were traded during trading, a decline of 90% from the average session volume of 8,905,607 shares. The stock had previously closed at $11.20.

Analyst Upgrades and Downgrades

Several brokerages have commented on VG. 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. Sanford C. Bernstein initiated coverage on shares of Venture Global in a report on Tuesday, February 4th. They set a “market perform” rating and a $20.00 target price for the company. StockNews.com cut shares of Venture Global from a “hold” rating to a “sell” rating in a research note on Saturday, March 15th. Scotiabank dropped their price objective on shares of 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, Deutsche Bank Aktiengesellschaft assumed coverage on shares of Venture Global in a research report on Tuesday, February 18th. They set a “buy” rating and a $19.00 price target 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 MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus price target of $17.55.

Venture Global Stock Down 0.7 %

Venture Global (NYSE:VG) last posted its quarterly earnings results on Thursday, March 6th. The company reported $0.33 earnings per share 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, analysts predict that Venture Global, Inc. will post 0.52 EPS for the current fiscal year.

Venture Global Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Monday, March 31st. Shareholders of record on Monday, March 10th will be paid a $0.0165 dividend. The ex-dividend date is Monday, March 10th. This represents a $0.07 dividend on an annualized basis and a yield of 0.56%.

Insider Transactions at Venture Global

In other news, insider Robert B. Pender purchased 269,500 shares of the stock in a transaction dated Wednesday, March 12th. The shares were purchased at an average cost of $10.39 per share, with a total value of $2,800,105.00. Following the completion of the purchase, 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 transaction was disclosed in a document filed with the SEC, which is available through this link. Also, insider Michael Sabel bought 234,500 shares of Venture Global stock in a transaction on Friday, March 14th. The stock was acquired at an average price of $10.53 per share, for a total transaction of $2,469,285.00. Following the transaction, the insider now directly owns 1,185,885 shares of the company’s stock, valued at approximately $12,487,369.05. This trade represents a 24.65 % increase in their ownership of the stock. The disclosure for this purchase can be found here. In the last 90 days, insiders have bought 803,000 shares of company stock valued at $8,108,260. 4.72% of the stock is currently 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.