Renaissance Capital LLC Takes Position in Venture Global, Inc. (NYSE:VG)

Renaissance Capital LLC acquired a new stake in shares of Venture Global, Inc. (NYSE:VG - Free Report) in the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm acquired 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 investment portfolio, making the stock its 23rd largest position.

Analyst Ratings Changes

VG has been the topic of a number of research reports. Mizuho dropped their target price on shares of Venture Global from $25.00 to $18.00 and set an "outperform" rating on the stock in a research report on Tuesday, March 11th. Wall Street Zen downgraded shares of Venture Global from a "hold" rating to a "sell" rating in a research note on Saturday, March 15th. Citigroup decreased 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 note on Tuesday, March 11th. JPMorgan Chase & Co. reduced their target price on shares of Venture Global from $16.00 to $15.00 and set an "overweight" rating on the stock in a research note on Thursday, April 24th. Finally, Bank of America cut their price target on Venture Global from $14.00 to $12.00 and set a "buy" rating for the company in a report on Tuesday, April 29th. 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. Based on data from MarketBeat, Venture Global has an average rating of "Hold" and a consensus target price of $15.63.

Insider Activity at Venture Global

In other news, insider Robert B. Pender bought 250,000 shares of the stock in a transaction on Monday, March 10th. The shares were purchased at an average cost of $9.37 per share, for a total transaction of $2,342,500.00. Following the completion of the purchase, the insider now directly owns 250,000 shares in the company, valued at $2,342,500. This represents a ∞ increase in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, Director Jimmy D. Staton acquired 49,000 shares of the firm's stock in a transaction that occurred on Tuesday, March 11th. The shares were bought at an average price of $10.13 per share, for a total transaction of $496,370.00. Following the completion of the purchase, the director now owns 49,000 shares in the company, valued at $496,370. This trade represents a ∞ 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 valued at $8,108,260 over the last 90 days. Insiders own 86.73% of the company's stock.

Venture Global Trading Up 7.8%

VG opened at $15.21 on Friday. Venture Global, Inc. has a 52-week low of $6.75 and a 52-week high of $25.50. The stock's fifty day moving average is $9.70.

Venture Global (NYSE:VG - Get Free Report) last announced its quarterly earnings results on Tuesday, May 13th. The company reported $0.16 EPS for the quarter, missing analysts' consensus estimates of $0.24 by ($0.08). The firm had revenue of $2.89 billion during the quarter, compared to analysts' expectations of $2.83 billion. Equities analysts forecast that Venture Global, Inc. will post 0.52 earnings per share for the current year.

Venture Global Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Monday, June 30th. Shareholders of record on Tuesday, June 10th will be paid a $0.0165 dividend. The ex-dividend date is Tuesday, June 10th. This represents a $0.07 dividend on an annualized basis and a yield of 0.43%.

Venture Global 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.

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