Insider Buying: Venture Global, Inc. (NYSE:VG) Insider Acquires $2,469,285.00 in Stock

Venture Global, Inc. (NYSE:VG) insider Michael Sabel bought 234,500 shares of the stock in a transaction dated Friday, March 14th. The shares were bought at an average cost of $10.53 per share, with a total value of $2,469,285.00. Following the completion of the acquisition, the insider now directly owns 1,185,885 shares of the company’s stock, valued at approximately $12,487,369.05. The trade was a 24.65 % increase in their position. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link.

Venture Global Price Performance

VG opened at $10.65 on Monday. Venture Global, Inc. has a 1-year low of $8.62 and a 1-year 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 analysts’ consensus estimates of $0.30 by $0.03. The firm had revenue of $1.52 billion during the quarter. Equities research analysts anticipate that Venture Global, Inc. will post 0.52 EPS for the current year.

Venture Global Dividend Announcement

The company also recently announced 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. The ex-dividend date is Monday, March 10th. This represents a $0.07 dividend on an annualized basis and a yield of 0.62%.

Analyst Ratings Changes

VG has been the subject of several recent research reports. Guggenheim lowered their target price on Venture Global from $27.00 to $20.00 and set a “buy” rating for the company in a report on Monday, March 10th. Bank of America initiated coverage on Venture Global in a report on Tuesday, February 18th. They set a “buy” rating and a $23.00 target price for the company. Scotiabank lowered their target price on Venture Global from $17.00 to $15.00 and set a “sector perform” rating for the company in a report on Friday, March 7th. Royal Bank of Canada assumed coverage on Venture Global in a report on Tuesday, February 18th. They issued an “outperform” rating and a $20.00 price objective for the company. Finally, Citigroup decreased their price objective on Venture Global from $18.00 to $11.00 and set a “neutral” rating for the company in a report on Tuesday, March 11th. One analyst has rated the stock with a sell rating, four have assigned a hold rating and seven have given a buy rating to the company. Based on data from MarketBeat, Venture Global has a consensus rating of “Moderate Buy” and an average price target of $17.55.

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.