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

Shares of Venture Global, Inc. (NYSE:VG) gapped up before the market opened on Tuesday . The stock had previously closed at $15.72, but opened at $16.28. Venture Global shares last traded at $16.48, with a volume of 1,192,875 shares trading hands.

Analyst Upgrades and Downgrades

A number of analysts recently commented on the stock. Wells Fargo & Company restated a “reduce” rating on shares of Venture Global in a research note on Wednesday, May 14th. UBS Group assumed coverage on shares of Venture Global in a research note on Friday, April 4th. They set a “buy” rating and a $14.00 price target on the stock. Citigroup dropped their price target on shares of Venture Global from $18.00 to $11.00 and set a “neutral” rating on the stock in a research note on Tuesday, March 11th. Deutsche Bank Aktiengesellschaft assumed coverage on shares of Venture Global in a research note on Tuesday, February 18th. They set a “buy” rating and a $19.00 price target on the stock. Finally, Scotiabank dropped their price target on shares of Venture Global from $17.00 to $15.00 and set a “sector perform” rating on the stock in a research note on Friday, March 7th. Two analysts have rated the stock with a sell rating, three have given a hold rating and eight have assigned a buy rating to the stock. According to MarketBeat.com, the stock currently has an average rating of “Hold” and an average target price of $15.63.

Venture Global Trading Down 1.8%

The stock has a 50 day moving average of $10.27.

Venture Global (NYSE:VG) last posted its earnings results on Tuesday, May 13th. The company reported $0.16 earnings per share (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 analyst estimates of $2.83 billion. Analysts expect that Venture Global, Inc. will post 0.52 EPS for the current year.

Venture Global Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Monday, June 30th. Shareholders of record on Tuesday, June 10th will be paid a $0.0165 dividend. This represents a $0.07 annualized dividend and a yield of 0.39%. The ex-dividend date is Tuesday, June 10th.

Insiders Place Their Bets

In related news, insider Michael Sabel purchased 234,500 shares of the firm’s stock in a transaction dated Friday, March 14th. The shares were 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 directly 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 Securities & Exchange Commission, which is available through the SEC website. Corporate insiders own 86.73% of the company’s stock.

Hedge Funds Weigh In On Venture Global

Institutional investors have recently made changes to their positions in the stock. Center for Financial Planning Inc. bought a new position in shares of Venture Global in the 1st quarter worth $37,000. ORG Wealth Partners LLC bought a new position in shares of Venture Global in the 1st quarter worth $60,000. Federated Hermes Inc. bought a new position in shares of Venture Global in the 1st quarter worth $74,000. Adalta Capital Management LLC bought a new position in shares of Venture Global in the 1st quarter worth $103,000. Finally, Defined Wealth Management LLC bought a new position in shares of Venture Global in the 1st quarter worth $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.