Venture Global (NYSE:VG) Shares Gap Down - Here's What Happened

Key Points

• Venture Global shares experienced a significant drop, opening at $9.97 compared to a previous close of $12.58, with the most recent trading price at $10.32.
• Analyst ratings for the stock are mixed, with eight analysts recommending a "Buy" and a few others issuing sell or hold ratings, and the average target price currently standing at $16.54.
• The company recently declared a half-year dividend of $0.017 per share, a decrease from its previous dividend of $0.02, indicating a significant yield of 50.0% for investors.

Venture Global, Inc. (NYSE:VG - Get Free Report) shares gapped down prior to trading on Friday . The stock had previously closed at $12.58, but opened at $9.97. Venture Global shares last traded at $10.32, with a volume of 9,015,639 shares traded.

Analyst Ratings Changes

A number of analysts have recently commented on the company. Weiss Ratings reissued a "sell (d)" rating on shares of Venture Global in a research note on Wednesday. Scotiabank boosted their price objective on Venture Global from $13.00 to $16.00 and gave the stock a "sector perform" rating in a research note on Tuesday, July 15th. Johnson Rice started coverage on Venture Global in a research note on Tuesday, June 17th. They issued a "buy" rating and a $20.00 price objective on the stock. Mizuho restated a "neutral" rating and issued a $12.00 target price (down from $17.00) on shares of Venture Global in a report on Friday. Finally, JPMorgan Chase & Co. lifted their target price on Venture Global from $15.00 to $17.00 and gave the stock an "overweight" rating in a report on Thursday, July 24th. Eight research analysts have rated the stock with a Buy rating, six have assigned a Hold rating and one has assigned a Sell rating to the stock. According to data from MarketBeat.com, the company presently has an average rating of "Hold" and an average target price of $16.54.

Venture Global Trading Down 21.4%

The company has a current ratio of 1.39, a quick ratio of 1.33 and a debt-to-equity ratio of 3.38. The business has a fifty day moving average price of $13.50 and a two-hundred day moving average price of $12.84.

Venture Global Increases Dividend

The company also recently disclosed a half year 25 dividend, which was paid on Tuesday, September 30th. Investors of record on Friday, September 19th were given a dividend of $0.017 per share. The ex-dividend date of this dividend was Friday, September 19th. This is a positive change from Venture Global's previous half year 25 dividend of $0.02. This represents a yield of 50.0%.

Insider Transactions at Venture Global

In related news, insider Thomas Earl sold 500,000 shares of Venture Global stock in a transaction on Monday, September 15th. The stock was sold at an average price of $13.69, for a total transaction of $6,845,000.00. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Insiders sold a total of 1,500,000 shares of company stock worth $20,561,011 over the last ninety days. 86.73% of the stock is currently owned by company insiders.

Institutional Trading of Venture Global

Institutional investors and hedge funds have recently made changes to their positions in the stock. Northwestern Mutual Wealth Management Co. acquired a new stake in shares of Venture Global in the second quarter worth about $26,000. AdvisorNet Financial Inc acquired a new stake in shares of Venture Global in the second quarter worth about $28,000. Center for Financial Planning Inc. acquired a new stake in shares of Venture Global in the first quarter worth about $37,000. Delos Wealth Advisors LLC acquired a new stake in shares of Venture Global in the second quarter worth about $45,000. Finally, Future Financial Wealth Managment LLC acquired a new stake in shares of Venture Global in the second quarter worth about $47,000.

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.

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