Venture Global (NYSE:VG) Trading Up 5.8% – Still a Buy?

Shares of Venture Global, Inc. (NYSE:VG) rose 5.8% during mid-day trading on Tuesday . The stock traded as high as $10.73 and last traded at $10.70. Approximately 1,747,588 shares traded hands during mid-day trading, a decline of 77% from the average daily volume of 7,685,940 shares. The stock had previously closed at $10.11.

Wall Street Analyst Weigh In

Several research analysts have weighed in on the company. Wells Fargo & Company reiterated a “reduce” rating on shares of Venture Global in a report on Wednesday, May 14th. 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 for the company. Scotiabank cut 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. Deutsche Bank Aktiengesellschaft assumed coverage on Venture Global in a report on Tuesday, February 18th. They issued a “buy” rating and a $19.00 price target on the stock. Finally, Guggenheim cut their target price on Venture Global from $27.00 to $20.00 and set a “buy” rating on the stock in a research note on Monday, March 10th. Two equities research analysts have rated the stock with a sell rating, three have assigned a hold rating and eight have issued a buy rating to the stock. According to data from MarketBeat.com, the company currently has an average rating of “Hold” and a consensus target price of $15.63.

Venture Global Price Performance

The business has a 50 day moving average price of $9.39.

Venture Global (NYSE:VG) last announced its quarterly earnings results on Tuesday, May 13th. The company reported $0.16 EPS for the quarter, missing the consensus estimate of $0.24 by ($0.08). The business had revenue of $2.89 billion for the quarter, compared to analysts’ expectations of $2.83 billion. Equities analysts forecast that Venture Global, Inc. will post 0.52 earnings per share for the current year.

Venture Global Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Monday, March 31st. Investors of record on Monday, March 10th were issued a dividend of $0.0165 per share. This represents a $0.07 annualized dividend and a yield of 0.63%. The ex-dividend date of this dividend was Monday, March 10th.

Insiders Place Their Bets

In other news, Director Jimmy D. Staton purchased 49,000 shares of the stock in a transaction dated Tuesday, March 11th. The shares were purchased at an average cost of $10.13 per share, with a total value of $496,370.00. Following the acquisition, the director now directly owns 49,000 shares of the company’s stock, valued at $496,370. This represents a ∞ increase in their ownership of the stock. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, insider Robert B. Pender bought 250,000 shares of the firm’s stock in a transaction that occurred on Monday, March 10th. The stock was bought at an average cost of $9.37 per share, for a total transaction of $2,342,500.00. Following the completion of the acquisition, the insider now owns 250,000 shares in the company, valued at $2,342,500. This trade represents a ∞ increase in their position. The disclosure for this purchase can be found here. In the last ninety days, insiders purchased 803,000 shares of company stock worth $8,108,260. 86.73% of the stock is currently owned by corporate insiders.

Institutional Trading of Venture Global

A number of large investors have recently made changes to their positions in VG. Center for Financial Planning Inc. bought a new position in Venture Global in the 1st quarter worth about $37,000. ORG Wealth Partners LLC purchased a new stake in Venture Global in the first quarter valued at approximately $60,000. Federated Hermes Inc. purchased a new position in shares of Venture Global during the first quarter worth $74,000. Adalta Capital Management LLC acquired a new stake in Venture Global during the first quarter worth about $103,000. Finally, PEAK6 LLC acquired a new stake in Venture Global during the first quarter valued at $114,000.

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.