Venture Global (NYSE:VG) Shares Gap Up – What’s Next?

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.

Wall Street Analyst Weigh In

VG has been the subject of a number of analyst reports. JPMorgan Chase & Co. dropped their target price on Venture Global from $16.00 to $15.00 and set an “overweight” rating on the stock in a research report on Thursday, April 24th. Royal Bank of Canada cut their price target on shares of Venture Global from $15.00 to $14.00 and set an “outperform” rating on the stock in a report on Monday, May 5th. Wells Fargo & Company reissued a “reduce” rating on shares of Venture Global in a research report on Wednesday, May 14th. Bank of America decreased their price target on Venture Global from $14.00 to $12.00 and set a “buy” rating for the company in a research note on Tuesday, April 29th. Finally, UBS Group started coverage on Venture Global in a research note on Friday, April 4th. They set a “buy” rating and a $14.00 price target on the stock. Two equities research analysts have rated the stock with a sell rating, three have issued a hold rating and eight have given a buy rating to the company’s stock. According to MarketBeat.com, the company presently has an average rating of “Hold” and an average price target of $15.63.

Venture Global Stock Performance

The firm’s fifty day moving average price is $9.92.

Venture Global (NYSE:VG) last posted its earnings results on Tuesday, May 13th. The company reported $0.16 earnings per share 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 the consensus estimate of $2.83 billion. As a group, analysts anticipate that Venture Global, Inc. will post 0.52 earnings per share for the current fiscal year.

Venture Global Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, June 30th. Investors of record on Tuesday, June 10th will be issued a $0.0165 dividend. This represents a $0.07 dividend on an annualized basis and a yield of 0.39%. The ex-dividend date is Tuesday, June 10th.

Insiders Place Their Bets

In related news, insider Michael Sabel bought 234,500 shares of the stock in a transaction on Friday, March 14th. The stock was bought at an average price of $10.53 per share, with a total value of $2,469,285.00. Following the completion of the purchase, the insider now directly owns 1,185,885 shares in the company, valued at $12,487,369.05. This represents a 24.65% increase in their position. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Also, insider Robert B. Pender purchased 269,500 shares of the company’s stock in a transaction on Wednesday, March 12th. The shares were bought at an average price of $10.39 per share, with a total value of $2,800,105.00. Following the completion of the transaction, the insider now owns 719,885 shares of the company’s stock, valued at approximately $7,479,605.15. The trade was a 59.84% increase in their ownership of the stock. The disclosure for this purchase can be found here. 86.73% of the stock is owned by insiders.

Institutional Inflows and Outflows

Large investors have recently added to or reduced their stakes in the company. Center for Financial Planning Inc. purchased a new position in shares of Venture Global in the first quarter valued at approximately $37,000. ORG Wealth Partners LLC acquired a new stake in Venture Global during the 1st quarter worth approximately $60,000. Federated Hermes Inc. purchased a new position in Venture Global in the 1st quarter valued at approximately $74,000. Adalta Capital Management LLC acquired a new position in shares of Venture Global in the first quarter worth $103,000. Finally, Defined Wealth Management LLC acquired a new position in shares of Venture Global in the first quarter worth $114,000.

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.