Venture Global (NYSE:VG) Trading Down 2.4% - Here's Why

Shares of Venture Global, Inc. (NYSE:VG - Get Free Report) dropped 2.4% 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.

Analyst Upgrades and Downgrades

Several equities research analysts recently issued reports on VG shares. StockNews.com lowered Venture Global from a "hold" rating to a "sell" rating in a research report on Saturday, March 15th. Deutsche Bank Aktiengesellschaft started coverage on shares of Venture Global in a report on Tuesday, February 18th. They set a "buy" rating and a $19.00 price target for the company. Wells Fargo & Company dropped their price objective on shares of Venture Global from $18.00 to $11.00 and set an "equal weight" rating on the stock in a research note on Tuesday, March 11th. Bank of America lowered their price target on shares of Venture Global from $14.00 to $12.00 and set a "buy" rating on the stock in a report on Tuesday. Finally, Royal Bank of Canada initiated coverage on Venture Global in a report on Tuesday, February 18th. They set an "outperform" rating and a $20.00 price objective for the company. One research analyst has rated the stock with a sell rating, four have issued a hold rating and eight have assigned a buy rating to the company. According to MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and an average price target of $16.25.

Venture Global Price Performance

The company has a 50-day moving average price of $10.18.

Venture Global (NYSE:VG - Get Free Report) last issued its quarterly earnings data 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. On average, equities research analysts predict that Venture Global, Inc. will post 0.52 earnings per share for the current fiscal year.

Venture Global Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Monday, March 31st. Stockholders of record on Monday, March 10th were given a $0.0165 dividend. The ex-dividend date was Monday, March 10th. This represents a $0.07 annualized dividend and a dividend yield of 0.74%.

Insider Buying and Selling

In other Venture Global news, insider Michael Sabel purchased 234,500 shares of the stock in a transaction on Friday, March 14th. The shares were purchased at an average price of $10.53 per share, with a total value of $2,469,285.00. Following the acquisition, the insider now directly owns 1,185,885 shares of the company's stock, valued at $12,487,369.05. This represents a 24.65 % increase in their position. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Also, insider Robert B. Pender acquired 250,000 shares of Venture Global stock in a transaction dated Monday, March 10th. The shares were acquired at an average cost of $9.37 per share, with a total value of $2,342,500.00. Following the completion of the acquisition, the insider now directly owns 250,000 shares in the company, valued at $2,342,500. This trade represents a ∞ increase in their position. The disclosure for this purchase can be found here. Over the last quarter, insiders have purchased 803,000 shares of company stock valued at $8,108,260. 86.73% of the stock is owned by company insiders.

Institutional Inflows and Outflows

Hedge funds have recently added to or reduced their stakes in the business. Brown Advisory Inc. acquired a new position in shares of Venture Global in the 1st quarter worth approximately $180,000. Wealth Enhancement Advisory Services LLC acquired a new stake in shares of Venture Global in the 1st quarter valued at $156,000. Catalyst Capital Advisors LLC bought a new stake in shares of Venture Global in the 1st quarter worth about $14,285,000. Oppenheimer & Co. Inc. acquired a new stake in shares of Venture Global during the 1st quarter worth about $247,000. Finally, Summit Trail Advisors LLC acquired a new position in Venture Global in the first quarter valued at about $114,000.

Venture Global Company 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.