Insider Selling: Venture Global (NYSE:VG) CFO Sells 111,111 Shares of Stock

Key Points

• Venture Global CFO Jonathan Thayer sold 111,111 shares at an average price of $14.40, generating approximately $1.6 million, according to an SEC filing.
• Venture Global shares recently traded at $13.67, while the company reported quarterly EPS of $0.51, slightly exceeding analyst expectations, on $4.58 billion in revenue.
• The company increased its quarterly dividend from $0.02 to $0.04 per share, implying an annualized dividend of $0.16 and a 1.2% yield; analysts maintain a “Moderate Buy” consensus with a $16.13 price target.

Venture Global, Inc. (NYSE:VG - Get Free Report) CFO Jonathan Thayer sold 111,111 shares of Venture Global stock in a transaction that occurred on Thursday, September 17th. The shares were sold at an average price of $14.40, for a total value of $1,599,998.40. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website.

Venture Global Price Performance

Venture Global stock traded down $0.35 during mid-day trading on Monday, hitting $13.67. 17,234,966 shares of the company were exchanged, compared to its average volume of 18,379,633. The company has a market capitalization of $34.18 billion, a PE ratio of 10.76, a price-to-earnings-growth ratio of 0.56 and a beta of 0.26. The business has a fifty day moving average of $14.04 and a 200 day moving average of $13.29. Venture Global, Inc. has a 1-year low of $5.72 and a 1-year high of $17.62. The company has a quick ratio of 1.11, a current ratio of 1.19 and a debt-to-equity ratio of 3.44.

Venture Global (NYSE:VG - Get Free Report) last issued its earnings results on Monday, August 10th. The company reported $0.51 EPS for the quarter, beating the consensus estimate of $0.50 by $0.01. The company had revenue of $4.58 billion for the quarter. Venture Global had a net margin of 21.24% and a return on equity of 34.08%. As a group, sell-side analysts expect that Venture Global, Inc. will post 1.69 earnings per share for the current year.

Venture Global Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Wednesday, September 30th. Stockholders of record on Tuesday, September 15th will be paid a $0.04 dividend. This represents a $0.16 dividend on an annualized basis and a dividend yield of 1.2%. This is an increase from Venture Global's previous quarterly dividend of $0.02. The ex-dividend date is Tuesday, September 15th. Venture Global's dividend payout ratio is presently 12.60%.

Institutional Investors Weigh In On Venture Global

Several institutional investors have recently modified their holdings of the business. LRI Investments LLC bought a new position in Venture Global in the second quarter valued at approximately $28,000. IFP Advisors Inc acquired a new position in shares of Venture Global in the 2nd quarter valued at $31,000. Harbour Investments Inc. bought a new position in shares of Venture Global in the 4th quarter worth $29,000. Rockefeller Capital Management L.P. grew its stake in shares of Venture Global by 218.1% during the fourth quarter. Rockefeller Capital Management L.P. now owns 4,421 shares of the company's stock worth $30,000 after purchasing an additional 3,031 shares during the period. Finally, AdvisorNet Financial Inc increased its holdings in Venture Global by 67.5% in the first quarter. AdvisorNet Financial Inc now owns 4,480 shares of the company's stock valued at $71,000 after purchasing an additional 1,805 shares during the last quarter.

Wall Street Analysts Forecast Growth

A number of equities analysts have commented on the company. Scotiabank boosted their price objective on Venture Global from $15.00 to $16.00 and gave the stock a "sector perform" rating in a research note on Thursday, September 10th. Sanford C. Bernstein initiated coverage on shares of Venture Global in a report on Tuesday, June 16th. They set a "market perform" rating and a $14.00 price objective on the stock. Weiss Ratings downgraded shares of Venture Global from a "hold (c)" rating to a "hold (c-)" rating in a research note on Monday, July 20th. Wells Fargo & Company raised their price target on shares of Venture Global from $14.00 to $15.00 and gave the company an "equal weight" rating in a report on Wednesday, August 12th. Finally, US Capital Advisors set a $13.00 price objective on Venture Global in a report on Friday, May 29th. One analyst has rated the stock with a Strong Buy rating, eight have given a Buy rating and seven have given a Hold rating to the company. According to data from MarketBeat.com, the stock has an average rating of "Moderate Buy" and a consensus price target of $16.13.

Venture Global Company Profile

Venture Global, Inc is a liquefied natural gas (LNG) company that develops, constructs and operates LNG export facilities in the United States. The company sources natural gas from domestic markets, liquefies it at its coastal facilities and supplies LNG to customers in international markets.

Venture Global's operating and development portfolio is concentrated along the U.S. Gulf Coast. Its Calcasieu Pass LNG facility in Louisiana has entered commercial operations, while its Plaquemines LNG project in Louisiana is being developed and brought into service.

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