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

Venture Global, Inc. (NYSE:VG - Get Free Report)'s share price gapped up prior to trading on Tuesday . The stock had previously closed at $7.00, but opened at $7.69. Venture Global shares last traded at $8.16, with a volume of 1,217,186 shares changing hands.

Wall Street Analysts Forecast Growth

A number of analysts recently issued reports on VG shares. Bank of America assumed coverage on Venture Global in a report on Tuesday, February 18th. They issued a "buy" rating and a $23.00 price target for the company. The Goldman Sachs Group set a $20.00 target price on shares of Venture Global and gave the stock a "buy" rating in a report on Friday, March 7th. Mizuho lowered their price target on shares of Venture Global from $25.00 to $18.00 and set an "outperform" rating for the company in a research report on Tuesday, March 11th. Royal Bank of Canada initiated coverage on shares of Venture Global in a research note on Tuesday, February 18th. They issued an "outperform" rating and a $20.00 price objective for the company. Finally, Wells Fargo & Company cut their price target on Venture Global from $18.00 to $11.00 and set an "equal weight" rating on the stock in a report on Tuesday, March 11th. One investment analyst has rated the stock with a sell rating, four have assigned a hold rating and eight have given a buy rating to the company. Based on data from MarketBeat, the company currently has a consensus rating of "Moderate Buy" and a consensus target price of $17.25.

Venture Global Stock Performance

The company has a 50 day simple moving average of $12.26.

Venture Global (NYSE:VG - Get Free Report) last issued its quarterly earnings results on Thursday, March 6th. The company reported $0.33 EPS for the quarter, topping analysts' consensus estimates of $0.30 by $0.03. The firm had revenue of $1.52 billion for the quarter. Research analysts expect that Venture Global, Inc. will post 0.52 EPS for the current fiscal year.

Venture Global Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Monday, March 31st. Investors of record on Monday, March 10th were issued a $0.0165 dividend. The ex-dividend date was Monday, March 10th. This represents a $0.07 annualized dividend and a yield of 0.80%.

Insider Buying and Selling at Venture Global

In related news, insider Robert B. Pender purchased 250,000 shares of the firm's stock in a transaction on Monday, March 10th. The stock was bought 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 owns 250,000 shares of the company's stock, valued at $2,342,500. The trade was a ∞ increase in their position. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, Director Jimmy D. Staton acquired 49,000 shares of the company's stock in a transaction dated Tuesday, March 11th. The shares were purchased at an average cost of $10.13 per share, for a total transaction of $496,370.00. Following the purchase, 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 ninety days, insiders acquired 803,000 shares of company stock worth $8,108,260. Company insiders own 4.72% of the company's stock.

Institutional Trading of Venture Global

A hedge fund recently bought a new stake in Venture Global stock. Renaissance Capital LLC acquired a new position in Venture Global, Inc. (NYSE:VG - Free Report) in the first quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor acquired 139,695 shares of the company's stock, valued at approximately $1,439,000. Venture Global accounts for about 1.1% of Renaissance Capital LLC's portfolio, making the stock its 23rd largest holding.

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.