Venture Global (NYSE:VG) Trading Up 12.4% - Time to Buy?

Shares of Venture Global, Inc. (NYSE:VG - Get Free Report) traded up 12.4% on Tuesday . The company traded as high as $12.85 and last traded at $12.80. 3,340,705 shares traded hands during mid-day trading, a decline of 56% from the average session volume of 7,627,440 shares. The stock had previously closed at $11.39.

Analyst Upgrades and Downgrades

VG has been the subject of several research reports. Wall Street Zen cut shares of Venture Global from a "hold" rating to a "sell" rating in a research report on Saturday, March 15th. The Goldman Sachs Group decreased their price target on shares of Venture Global from $20.00 to $17.50 and set a "buy" rating for the company in a research note on Wednesday, May 14th. Royal Bank of Canada lowered their price target on Venture Global from $15.00 to $14.00 and set an "outperform" rating for the company in a report on Monday, May 5th. JPMorgan Chase & Co. decreased their target price on Venture Global from $16.00 to $15.00 and set an "overweight" rating for the company in a research report on Thursday, April 24th. Finally, Mizuho lowered their target price on Venture Global from $25.00 to $18.00 and set an "outperform" rating for the company in a report on Tuesday, March 11th. Two equities research analysts have rated the stock with a sell rating, three have assigned a hold rating and eight have issued a buy rating to the company's stock. Based on data from MarketBeat.com, Venture Global presently has a consensus rating of "Hold" and an average price target of $15.63.

Venture Global Price Performance

The company has a 50-day simple moving average of $9.44.

Venture Global (NYSE:VG - Get Free Report) last issued its quarterly earnings results on Tuesday, May 13th. The company reported $0.16 earnings per share for the quarter, missing the consensus estimate of $0.24 by ($0.08). The business had revenue of $2.89 billion during the quarter, compared to analyst estimates of $2.83 billion. Research analysts predict that Venture Global, Inc. will post 0.52 EPS for the current fiscal year.

Venture Global Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Monday, June 30th. Shareholders of record on Tuesday, June 10th will be paid a dividend of $0.0165 per share. This represents a $0.07 dividend on an annualized basis and a yield of 0.57%.

Insiders Place Their Bets

In other news, insider Michael Sabel acquired 234,500 shares of Venture Global stock in a transaction dated Friday, March 14th. The stock was purchased at an average cost of $10.53 per share, for a total transaction of $2,469,285.00. Following the completion of the purchase, the insider now directly owns 1,185,885 shares in the company, valued at $12,487,369.05. This trade represents a 24.65% increase in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, insider Robert B. Pender bought 269,500 shares of the company's stock in a transaction that occurred on Wednesday, March 12th. The stock was purchased at an average price of $10.39 per share, for a total transaction of $2,800,105.00. Following the transaction, the insider now owns 719,885 shares of the company's stock, valued at $7,479,605.15. The trade was a 59.84% increase in their ownership of the stock. The disclosure for this purchase can be found here. Over the last quarter, insiders purchased 803,000 shares of company stock valued at $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 added to or reduced their stakes in VG. Center for Financial Planning Inc. acquired a new stake in Venture Global during the 1st quarter worth about $37,000. ORG Wealth Partners LLC acquired a new stake in Venture Global during the first quarter worth about $60,000. Federated Hermes Inc. purchased a new position in Venture Global during the first quarter valued at approximately $74,000. Adalta Capital Management LLC acquired a new position in Venture Global in the first quarter valued at approximately $103,000. Finally, Defined Wealth Management LLC purchased a new stake in Venture Global in the 1st quarter worth approximately $114,000.

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.