Venture Global (NYSE:VG) Shares Down 2.4% - Should You Sell?

Venture Global, Inc. (NYSE:VG - Get Free Report)'s stock price dropped 2.4% during mid-day trading on Monday . The company traded as low as $8.41 and last traded at $8.42. Approximately 994,461 shares changed hands during trading, a decline of 88% from the average daily volume of 8,191,475 shares. The stock had previously closed at $8.63.

Wall Street Analysts Forecast Growth

VG has been the topic of several analyst reports. Wells Fargo & Company dropped their target price on Venture Global from $18.00 to $11.00 and set an "equal weight" rating on the stock in a research report on Tuesday, March 11th. Mizuho dropped their price objective on shares of Venture Global from $25.00 to $18.00 and set an "outperform" rating on the stock in a report on Tuesday, March 11th. Deutsche Bank Aktiengesellschaft started coverage on shares of Venture Global in a research report on Tuesday, February 18th. They issued a "buy" rating and a $19.00 target price for the company. UBS Group assumed coverage on shares of Venture Global in a research note on Friday, April 4th. They issued a "buy" rating and a $14.00 price target on the stock. Finally, StockNews.com downgraded Venture Global from a "hold" rating to a "sell" rating in a research report on Saturday, March 15th. One investment analyst has rated the stock with a sell rating, four have given a hold rating and eight have issued a buy rating to the company. According to MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and a consensus target price of $16.25.

Venture Global Price Performance

The stock has a fifty day moving average price of $9.95.

Venture Global (NYSE:VG - Get Free Report) last announced its quarterly earnings data on Thursday, March 6th. The company reported $0.33 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.30 by $0.03. The business had revenue of $1.52 billion during the quarter. As a group, research analysts predict that Venture Global, Inc. will post 0.52 EPS for the current fiscal year.

Venture Global Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Monday, March 31st. Shareholders of record on Monday, March 10th were issued a $0.0165 dividend. The ex-dividend date of this dividend was Monday, March 10th. This represents a $0.07 annualized dividend and a dividend yield of 0.75%.

Insider Transactions at Venture Global

In other news, Director Jimmy D. Staton purchased 49,000 shares of the business's stock in a transaction dated Tuesday, March 11th. The shares were acquired at an average price of $10.13 per share, for a total transaction of $496,370.00. Following the completion of the acquisition, the director now directly owns 49,000 shares of the company's stock, valued at $496,370. The trade was a ∞ increase in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Also, insider Robert B. Pender acquired 269,500 shares of the firm's stock in a transaction that occurred on Wednesday, March 12th. The stock was purchased at an average cost of $10.39 per share, with a total value of $2,800,105.00. Following the purchase, the insider now directly owns 719,885 shares in the company, valued at approximately $7,479,605.15. This trade represents a 59.84 % increase in their position. The disclosure for this purchase can be found here. Insiders purchased a total of 803,000 shares of company stock valued at $8,108,260 in the last three months. 86.73% of the stock is currently owned by corporate insiders.

Institutional Trading of Venture Global

A number of hedge funds have recently modified their holdings of VG. Renaissance Capital LLC purchased a new position in shares of Venture Global during the first quarter valued at $1,439,000. Defined Wealth Management LLC acquired a new stake in Venture Global during the 1st quarter worth about $114,000. Wealth Enhancement Advisory Services LLC purchased a new position in Venture Global during the 1st quarter valued at about $156,000. Exchange Traded Concepts LLC acquired a new position in shares of Venture Global in the 1st quarter valued at about $1,316,000. Finally, Forefront Wealth Management Inc. acquired a new position in shares of Venture Global in the 1st quarter valued at about $938,000.

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.