Investors Purchase High Volume of Venture Global Call Options (NYSE:VG)

Venture Global, Inc. (NYSE:VG) was the recipient of unusually large options trading on Friday. Stock traders purchased 12,442 call options on the stock. This represents an increase of approximately 74% compared to the typical volume of 7,137 call options.

Venture Global Stock Down 5.4 %

Shares of NYSE VG traded down $0.58 during midday trading on Friday, reaching $10.07. 4,400,433 shares of the company’s stock were exchanged, compared to its average volume of 8,666,053. Venture Global has a 52-week low of $8.62 and a 52-week high of $25.50.

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 the consensus estimate of $0.30 by $0.03. The company had revenue of $1.52 billion during the quarter. Research analysts forecast that Venture Global will post 0.52 earnings per share for the current fiscal year.

Venture Global Dividend Announcement

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 issued a dividend of $0.0165 per share. The ex-dividend date of this dividend is Monday, March 10th. This represents a $0.07 dividend on an annualized basis and a dividend yield of 0.66%.

Analysts Set New Price Targets

VG has been the topic of several research analyst reports. Scotiabank decreased their target price 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. The Goldman Sachs Group set a $20.00 price target on shares of Venture Global and gave the company a “buy” rating in a report on Friday, March 7th. 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 report on Monday, March 10th. StockNews.com cut Venture Global from a “hold” rating to a “sell” rating in a report on Saturday, March 15th. Finally, Deutsche Bank Aktiengesellschaft assumed coverage on Venture Global in a research note on Tuesday, February 18th. They set a “buy” rating and a $19.00 price target for the company. One investment analyst has rated the stock with a sell rating, four have given a hold rating and seven have given a buy rating to the company’s stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $17.55.

Insider Buying and Selling at Venture Global

In related news, insider Michael Sabel acquired 234,500 shares of Venture Global stock in a transaction dated Friday, March 14th. The shares were acquired 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 directly owns 1,185,885 shares of the company’s stock, valued at $12,487,369.05. The trade was a 24.65 % increase in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through this hyperlink. Also, insider Robert B. Pender bought 269,500 shares of the business’s stock in a transaction that occurred on Wednesday, March 12th. The stock was purchased at an average cost of $10.39 per share, with a total value of $2,800,105.00. Following the purchase, the insider now directly owns 719,885 shares in the company, valued at $7,479,605.15. The trade was a 59.84 % increase in their position. The disclosure for this purchase can be found here. Over the last quarter, insiders acquired 803,000 shares of company stock valued at $8,108,260. 4.72% of the stock is owned by company insiders.

About Venture Global

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.