Venture Global (NYSE:VG) Stock Price Down 5.4% – What’s Next?

Venture Global, Inc. (NYSE:VG) shares fell 5.4% during trading on Thursday . The stock traded as low as $10.62 and last traded at $10.63. 3,239,727 shares were traded during mid-day trading, a decline of 63% from the average session volume of 8,698,186 shares. The stock had previously closed at $11.24.

Analyst Upgrades and Downgrades

Several equities analysts recently issued reports on VG shares. Guggenheim lowered their price target 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. StockNews.com downgraded shares of Venture Global from a “hold” rating to a “sell” rating in a research note on Saturday, March 15th. The Goldman Sachs Group set a $20.00 target price on shares of Venture Global and gave the company a “buy” rating in a research report on Friday, March 7th. Sanford C. Bernstein started coverage on Venture Global in a report on Tuesday, February 4th. They issued a “market perform” rating and a $20.00 price objective for the company. Finally, Bank of America started coverage on Venture Global in a report on Tuesday, February 18th. They issued a “buy” rating and a $23.00 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 issued a buy rating to the company. Based on data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $17.55.

Venture Global Price Performance

Venture Global (NYSE:VG) last issued its quarterly earnings results on Thursday, March 6th. The company reported $0.33 EPS for the quarter, beating analysts’ consensus estimates of $0.30 by $0.03. The firm had revenue of $1.52 billion for the quarter. Sell-side analysts forecast that Venture Global, Inc. will post 0.52 earnings per share for the current year.

Venture Global Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Monday, March 31st. Shareholders of record on Monday, March 10th will be given a $0.0165 dividend. This represents a $0.07 dividend on an annualized basis and a dividend yield of 0.63%. The ex-dividend date of this dividend is Monday, March 10th.

Insider Activity at Venture Global

In other Venture Global news, Director Jimmy D. Staton purchased 49,000 shares of Venture Global stock in a transaction dated Tuesday, March 11th. The stock was purchased at an average price of $10.13 per share, with a total value of $496,370.00. Following the transaction, the director now directly owns 49,000 shares of the company’s stock, valued at $496,370. This trade represents a ∞ increase in their ownership of the stock. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, insider Robert B. Pender bought 269,500 shares of the firm’s stock in a transaction that occurred on Wednesday, March 12th. The stock was bought at an average cost of $10.39 per share, for a total transaction of $2,800,105.00. Following the completion of the acquisition, the insider now owns 719,885 shares in the company, valued at $7,479,605.15. This trade represents a 59.84 % increase in their position. The disclosure for this purchase can be found here. Insiders have purchased a total of 803,000 shares of company stock worth $8,108,260 over the last quarter. Corporate insiders own 4.72% of the company’s stock.

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.