Venture Global (NYSE:VG) Shares Gap Down on Disappointing Earnings

Venture Global, Inc. (NYSE:VG - Get Free Report)'s share price gapped down before the market opened on Tuesday following a dissappointing 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 for the quarter, missing the consensus estimate of $0.24 by ($0.08). The firm had revenue of $2.89 billion for the quarter, compared to analysts' expectations of $2.83 billion.

Venture Global Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Monday, March 31st. Stockholders of record on Monday, March 10th were issued a dividend of $0.0165 per share. The ex-dividend date of this dividend was Monday, March 10th. This represents a $0.07 annualized dividend and a dividend yield of 0.68%.

Analysts Set New Price Targets

Several equities analysts have recently weighed in on the stock. Sanford C. Bernstein assumed coverage on shares of Venture Global in a report on Tuesday, February 4th. They set a "market perform" rating and a $20.00 price objective on the stock. JPMorgan Chase & Co. lowered their target price on shares of Venture Global from $16.00 to $15.00 and set an "overweight" rating on the stock in a report on Thursday, April 24th. StockNews.com lowered shares of Venture Global from a "hold" rating to a "sell" rating in a report on Saturday, March 15th. Scotiabank lowered their target price on shares of Venture Global from $17.00 to $15.00 and set a "sector perform" rating on the stock in a report on Friday, March 7th. Finally, The Goldman Sachs Group lowered their target price on shares of Venture Global from $20.00 to $17.50 and set a "buy" rating on the stock in a report on Wednesday. Two equities research analysts have rated the stock with a sell rating, three have given a hold rating and eight have issued a buy rating to the stock. According to data from MarketBeat.com, the company currently has a consensus rating of "Hold" and a consensus target price of $15.63.

Insider Buying and Selling at Venture Global

In related news, insider Robert B. Pender bought 269,500 shares of Venture Global stock in a transaction dated 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 transaction, the insider now directly owns 719,885 shares of the company's stock, valued at approximately $7,479,605.15. The trade was a 59.84% increase in their ownership of the stock. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Jimmy D. Staton bought 49,000 shares of Venture Global stock in a transaction dated Tuesday, March 11th. The shares were bought at an average cost of $10.13 per share, with a total value of $496,370.00. Following the completion of the transaction, the director now directly owns 49,000 shares in the company, valued at approximately $496,370. This trade represents a ∞ increase in their ownership of the stock. The disclosure for this purchase can be found here. In the last 90 days, insiders bought 803,000 shares of company stock worth $8,108,260. Insiders own 86.73% of the company's stock.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently modified their holdings of VG. Center for Financial Planning Inc. bought a new position in Venture Global in the 1st quarter worth approximately $37,000. ORG Wealth Partners LLC bought a new position in Venture Global in the 1st quarter worth approximately $60,000. Federated Hermes Inc. bought a new position in Venture Global in the 1st quarter worth approximately $74,000. Adalta Capital Management LLC bought a new position in Venture Global in the 1st quarter worth approximately $103,000. Finally, PEAK6 LLC bought a new position in Venture Global in the 1st quarter worth approximately $114,000.

Venture Global Trading Down 1.3%

The stock has a fifty day moving average of $9.40.

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.