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

Venture Global, Inc. (NYSE:VG) shares gapped up prior to trading on Tuesday . The stock had previously closed at $7.00, but opened at $7.69. Venture Global shares last traded at $8.16, with a volume of 1,217,186 shares changing hands.

Wall Street Analysts Forecast Growth

A number of research analysts recently commented on VG shares. 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 on the stock. Bank of America started coverage on shares of Venture Global in a research report on Tuesday, February 18th. They issued a “buy” rating and a $23.00 price target on the stock. JPMorgan Chase & Co. lowered their target price on shares of Venture Global from $25.00 to $16.00 and set an “overweight” rating on the stock in a research note on Friday, March 7th. Wells Fargo & Company cut their price target on shares of Venture Global from $18.00 to $11.00 and set an “equal weight” rating for the company in a research note on Tuesday, March 11th. Finally, Deutsche Bank Aktiengesellschaft started coverage on Venture Global in a research note on Tuesday, February 18th. They issued a “buy” rating and a $19.00 price objective on the stock. One research analyst has rated the stock with a sell rating, four have given a hold rating and eight have given a buy rating to the stock. According to MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average price target of $17.25.

Venture Global Stock Down 10.7 %

The stock has a 50-day moving average of $12.78.

Venture Global (NYSE:VG) last announced its earnings results on Thursday, March 6th. The company reported $0.33 EPS for the quarter, topping the consensus estimate of $0.30 by $0.03. The business had revenue of $1.52 billion for the quarter. Equities analysts forecast that Venture Global, Inc. will post 0.52 EPS for the current year.

Venture Global Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Monday, March 31st. Stockholders of record on Monday, March 10th were given a dividend of $0.0165 per share. The ex-dividend date was Monday, March 10th. This represents a $0.07 dividend on an annualized basis and a dividend yield of 0.85%.

Insider Buying and Selling at Venture Global

In other Venture Global news, insider Michael Sabel bought 234,500 shares of the stock in a transaction on Friday, March 14th. The stock was 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 of the company’s stock, valued at approximately $12,487,369.05. The trade was a 24.65 % increase in their ownership of the stock. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director Jimmy D. Staton purchased 49,000 shares of the business’s stock in a transaction dated Tuesday, March 11th. The stock was bought at an average cost of $10.13 per share, for a total transaction of $496,370.00. Following the purchase, the director now owns 49,000 shares in the company, valued at $496,370. This trade represents a ? increase in their ownership of the stock. The disclosure for this purchase can be found here. In the last ninety days, insiders have bought 803,000 shares of company stock worth $8,108,260. Insiders own 4.72% of the company’s stock.

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.