Fory Musser Sells 447,534 Shares of Venture Global (NYSE:VG) Stock

Key Points

• Venture Global VP Fory Musser sold 447,534 shares at an average price of $14.02, generating approximately $6.27 million. Musser has also sold more than 500,000 additional shares in recent transactions.
• Venture Global reported quarterly earnings of $0.51 per share, slightly ahead of analyst expectations, on revenue of $4.58 billion. The company also doubled its quarterly dividend to $0.04 per share, implying a 1.1% annualized yield.
• Analysts maintain a “Moderate Buy” consensus rating, with an average price target of $16.12 versus the stock’s recent price of $14.21. Shares have risen from a one-year low of $5.72 but remain below the $17.62 one-year high.

Venture Global, Inc. (NYSE:VG - Get Free Report) VP Fory Musser sold 447,534 shares of Venture Global stock in a transaction that occurred on Friday, August 14th. The stock was sold at an average price of $14.02, for a total value of $6,274,426.68. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink.

Fory Musser also recently made the following trade(s):

• On Monday, August 17th, Fory Musser sold 22,013 shares of Venture Global stock. The shares were sold at an average price of $14.02, for a total value of $308,622.26.
• On Tuesday, May 26th, Fory Musser sold 266,265 shares of Venture Global stock. The stock was sold at an average price of $13.09, for a total transaction of $3,485,408.85.
• On Wednesday, May 27th, Fory Musser sold 233,735 shares of Venture Global stock. The stock was sold at an average price of $12.61, for a total transaction of $2,947,398.35.

Venture Global Price Performance

Shares of NYSE VG traded up $0.47 during mid-day trading on Tuesday, reaching $14.21. The company's stock had a trading volume of 17,146,945 shares, compared to its average volume of 19,029,641. The stock has a 50-day moving average of $12.57 and a two-hundred day moving average of $12.45. The company has a debt-to-equity ratio of 3.44, a quick ratio of 1.11 and a current ratio of 1.19. The stock has a market capitalization of $35.32 billion, a P/E ratio of 11.19, a P/E/G ratio of 0.59 and a beta of 0.22. Venture Global, Inc. has a 1-year low of $5.72 and a 1-year high of $17.62.

Venture Global (NYSE:VG - Get Free Report) last posted its quarterly earnings results on Monday, August 10th. The company reported $0.51 earnings per share for the quarter, topping analysts' consensus estimates of $0.50 by $0.01. Venture Global had a net margin of 21.24% and a return on equity of 34.08%. The firm had revenue of $4.58 billion for the quarter. On average, equities research analysts anticipate that Venture Global, Inc. will post 1.59 EPS for the current fiscal year.

Venture Global Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Wednesday, September 30th. Stockholders of record on Tuesday, September 15th will be given a $0.04 dividend. This represents a $0.16 dividend on an annualized basis and a dividend yield of 1.1%. This is a boost from Venture Global's previous quarterly dividend of $0.02. The ex-dividend date is Tuesday, September 15th. Venture Global's dividend payout ratio (DPR) is currently 12.60%.

Wall Street Analysts Forecast Growth

Several analysts have issued reports on the company. Citigroup upgraded Venture Global from a "neutral" rating to a "buy" rating and upped their target price for the company from $12.00 to $17.00 in a report on Wednesday, May 13th. Wells Fargo & Company boosted their price target on shares of Venture Global from $14.00 to $15.00 and gave the company an "equal weight" rating in a research report on Wednesday, August 12th. The Goldman Sachs Group set a $18.00 price objective on shares of Venture Global in a research report on Thursday, May 14th. Scotiabank boosted their target price on shares of Venture Global from $13.00 to $15.00 and gave the company a "sector perform" rating in a report on Wednesday, May 13th. Finally, Morgan Stanley increased their price target on shares of Venture Global from $20.00 to $22.00 and gave the company an "overweight" rating in a research note on Wednesday, May 13th. Nine analysts have rated the stock with a Buy rating and nine have assigned a Hold rating to the stock. According to data from MarketBeat, Venture Global presently has an average rating of "Moderate Buy" and a consensus target price of $16.12.

Institutional Investors Weigh In On Venture Global

A number of institutional investors have recently made changes to their positions in the stock. Ancora Advisors LLC purchased a new stake in shares of Venture Global in the 2nd quarter valued at approximately $301,000. Bank of New York Mellon Corp purchased a new position in shares of Venture Global during the 2nd quarter worth approximately $14,230,000. Corecam AG acquired a new stake in Venture Global in the 2nd quarter valued at approximately $2,401,000. Fort Washington Investment Advisors Inc. OH acquired a new stake in Venture Global in the 2nd quarter valued at approximately $1,446,000. Finally, Farther Finance Advisors LLC raised its position in Venture Global by 1,876.8% in the second quarter. Farther Finance Advisors LLC now owns 109,484 shares of the company's stock valued at $1,219,000 after purchasing an additional 115,646 shares during the period.

About Venture Global

Venture Global NYSE: VG is a Houston-based energy company that develops, constructs and operates large-scale liquefied natural gas (LNG) export facilities in the United States. The company focuses on converting domestically produced natural gas into LNG for shipment to international markets, positioning itself as a supplier of pipeline-quality gas in vessel-ready form for global customers.

Venture Global's core activities include site development, engineering and construction of liquefaction and export terminals, commissioning and ongoing operations of those facilities, and commercial marketing of LNG under both long-term and short-term contracts.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.

Continue following MarketBeat

Add MarketBeat as your preferred source on Google to see our latest stories in your feed.

Add As Preferred Source