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

Venture Global, Inc. (NYSE:VG)’s stock price gapped down prior to trading on Monday . The stock had previously closed at $10.71, but opened at $10.47. Venture Global shares last traded at $10.59, with a volume of 445,764 shares.

Analyst Upgrades and Downgrades

A number of research analysts have recently issued reports on VG shares. Sanford C. Bernstein started coverage on shares of Venture Global in a report on Tuesday, February 4th. They set a “market perform” rating and a $20.00 price objective for the company. Citigroup reduced their price objective on shares of Venture Global from $18.00 to $11.00 and set a “neutral” rating for the company in a report on Tuesday, March 11th. Bank of America started coverage on shares of Venture Global in a report on Tuesday, February 18th. They set a “buy” rating and a $23.00 price objective for the company. Guggenheim reduced their price objective on shares of Venture Global from $27.00 to $20.00 and set a “buy” rating for the company in a report on Monday, March 10th. Finally, Mizuho reduced their price objective on shares of Venture Global from $25.00 to $18.00 and set an “outperform” rating for the company in a report on Tuesday, March 11th. One investment analyst has rated the stock with a sell rating, four have assigned a hold rating and seven have assigned a buy rating to the company. According to data from MarketBeat.com, the company has an average rating of “Moderate Buy” and an average price target of $17.55.

Venture Global Price Performance

Venture Global (NYSE:VG) last released its quarterly 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 firm had revenue of $1.52 billion for the quarter. Equities analysts predict that Venture Global, Inc. will post 0.52 earnings per share for the current year.

Venture Global Announces Dividend

The business 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 annualized dividend and a yield of 0.60%. The ex-dividend date of this dividend is Monday, March 10th.

Insiders Place Their Bets

In other Venture Global news, insider Robert B. Pender purchased 250,000 shares of the stock in a transaction dated Monday, March 10th. The shares were bought at an average price of $9.37 per share, with a total value of $2,342,500.00. Following the completion of the transaction, the insider now directly owns 250,000 shares in the company, valued at approximately $2,342,500. This trade represents a ∞ increase in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Also, Director Jimmy D. Staton purchased 49,000 shares of the stock in a transaction dated Tuesday, March 11th. The stock was acquired at an average cost of $10.13 per share, for a total transaction of $496,370.00. Following the transaction, the director now owns 49,000 shares of the company’s stock, valued at approximately $496,370. This trade represents a ∞ increase in their ownership of the stock. The disclosure for this purchase can be found here. Over the last 90 days, insiders have purchased 803,000 shares of company stock valued at $8,108,260. Company insiders own 4.72% of the company’s stock.

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.