Venture Global, Inc. (NYSE:VG - Get Free Report) gapped down prior to trading on Tuesday following a weaker than expected earnings announcement. The stock had previously closed at $9.91, but opened at $9.53. Venture Global shares last traded at $10.03, with a volume of 1,892,385 shares changing hands.
The company reported $0.16 earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $0.24 by ($0.08).
Venture Global Announces Dividend
The business also recently announced a quarterly dividend, which was paid on Monday, March 31st. Stockholders of record on Monday, March 10th were given a dividend of $0.0165 per share. The ex-dividend date of this dividend was Monday, March 10th. This represents a $0.07 dividend on an annualized basis and a dividend yield of 0.62%.
Wall Street Analyst Weigh In
A number of research analysts recently weighed in on VG shares. StockNews.com downgraded shares of Venture Global from a "hold" rating to a "sell" rating in a research report on Saturday, March 15th. Guggenheim cut their target price on shares of Venture Global from $27.00 to $20.00 and set a "buy" rating for the company in a research note on Monday, March 10th. Citigroup dropped their price objective on shares of Venture Global from $18.00 to $11.00 and set a "neutral" rating for the company in a research note on Tuesday, March 11th. Scotiabank dropped their price objective on shares of Venture Global from $17.00 to $15.00 and set a "sector perform" rating for the company in a research note on Friday, March 7th. Finally, Deutsche Bank Aktiengesellschaft initiated coverage on shares of Venture Global in a report on Tuesday, February 18th. They issued a "buy" rating and a $19.00 target price on the stock. One analyst has rated the stock with a sell rating, four have given a hold rating and eight have assigned a buy rating to the company. According to data from MarketBeat, the stock has a consensus rating of "Moderate Buy" and an average price target of $15.75.
Get Our Latest Report on Venture Global
Insider Buying and Selling
In related news, Director Jimmy D. Staton bought 49,000 shares of the company's stock in a transaction that occurred on Tuesday, March 11th. The shares were acquired at an average cost of $10.13 per share, for a total transaction of $496,370.00. Following the acquisition, the director now owns 49,000 shares in the company, valued at $496,370. This represents a ∞ increase in their position. The purchase was disclosed in a filing with the SEC, which can be accessed through this link. Also, insider Robert B. Pender bought 269,500 shares of the firm's stock in a transaction dated Wednesday, March 12th. The stock was purchased at an average price of $10.39 per share, with a total value of $2,800,105.00. Following the transaction, the insider now owns 719,885 shares in the company, valued at approximately $7,479,605.15. This represents a 59.84% increase in their position. The disclosure for this purchase can be found here. Insiders have acquired 803,000 shares of company stock valued at $8,108,260 over the last quarter. Company insiders own 86.73% of the company's stock.
Hedge Funds Weigh In On Venture Global
Large investors have recently bought and sold shares of the company. Renaissance Capital LLC bought a new stake in shares of Venture Global during the 1st quarter valued at approximately $1,439,000. Defined Wealth Management LLC bought a new stake in shares of Venture Global during the 1st quarter worth $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 purchased a new position in shares of Venture Global during the first quarter worth about $1,316,000. Finally, Forefront Wealth Management Inc. purchased a new stake in Venture Global in the first quarter worth approximately $938,000.
Venture Global Price Performance
The company's 50 day moving average is $9.33.
About Venture Global
(
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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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