Venture Global (NYSE:VG) Stock Price Up 10.1% – Time to Buy?

Venture Global, Inc. (NYSE:VG)’s share price shot up 10.1% during trading on Wednesday . The company traded as high as $9.16 and last traded at $9.13. 1,662,554 shares were traded during trading, a decline of 81% from the average session volume of 8,666,154 shares. The stock had previously closed at $8.29.

Wall Street Analyst Weigh In

Several research analysts recently commented on VG shares. Bank of America assumed coverage on Venture Global in a research report on Tuesday, February 18th. They set a “buy” rating and a $23.00 price target for the company. 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 report on Tuesday, March 11th. JPMorgan Chase & Co. cut 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. Royal Bank of Canada assumed coverage on Venture Global in a research report on Tuesday, February 18th. They set an “outperform” rating and a $20.00 price target on the stock. 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 target price for the company. One analyst has rated the stock with a sell rating, four have issued a hold rating and eight have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, Venture Global has a consensus rating of “Moderate Buy” and a consensus price target of $17.25.

Venture Global Price Performance

The company has a 50-day simple moving average of $11.85.

Venture Global (NYSE:VG) last posted its quarterly earnings data on Thursday, March 6th. The company reported $0.33 earnings per share for the quarter, beating the consensus estimate of $0.30 by $0.03. The company had revenue of $1.52 billion for the quarter. On average, analysts expect that Venture Global, Inc. will post 0.52 earnings per share for the current fiscal year.

Venture Global Dividend Announcement

The company also recently disclosed 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 of this dividend was Monday, March 10th. This represents a $0.07 annualized dividend and a dividend yield of 0.75%.

Insider Activity at Venture Global

In other Venture Global news, Director Jimmy D. Staton purchased 49,000 shares of the firm’s stock in a transaction on 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 completion of the purchase, the director now owns 49,000 shares of the company’s stock, valued at $496,370. The trade was a ∞ increase in their position. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, insider Robert B. Pender acquired 269,500 shares of the business’s stock in a transaction dated Wednesday, March 12th. The stock was acquired 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. This represents a 59.84 % increase in their position. The disclosure for this purchase can be found here. In the last three months, insiders have bought 803,000 shares of company stock valued at $8,108,260. Corporate insiders own 4.72% of the company’s stock.

Institutional Inflows and Outflows

An institutional investor recently bought a new position in Venture Global stock. Renaissance Capital LLC purchased a new position in Venture Global, Inc. (NYSE:VG) in the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor purchased 139,695 shares of the company’s stock, valued at approximately $1,439,000. Venture Global makes up about 1.1% of Renaissance Capital LLC’s holdings, making the stock its 23rd largest position.

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.