Venture Global (NYSE:VG) Trading Up 17.4% - Should You Buy?

Shares of Venture Global, Inc. (NYSE:VG - Get Free Report) were up 17.4% during mid-day trading on Tuesday . The company traded as high as $13.93 and last traded at $13.84. Approximately 3,973,948 shares were traded during trading, a decline of 47% from the average daily volume of 7,562,475 shares. The stock had previously closed at $11.79.

Analysts Set New Price Targets

Several research firms have issued reports on VG. Guggenheim dropped their price target on Venture Global from $27.00 to $20.00 and set a "buy" rating on the stock in a research note on Monday, March 10th. Citigroup decreased their price target 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. The Goldman Sachs Group cut their price objective on shares of Venture Global from $20.00 to $17.50 and set a "buy" rating on the stock in a research report on Wednesday, May 14th. Bank of America decreased their target price on shares of Venture Global from $14.00 to $12.00 and set a "buy" rating for the company in a research report on Tuesday, April 29th. Finally, Deutsche Bank Aktiengesellschaft assumed coverage on shares of Venture Global in a research report on Tuesday, February 18th. They set a "buy" rating and a $19.00 price target on the stock. Two investment analysts have rated the stock with a sell rating, three have issued a hold rating and eight have issued a buy rating to the company. Based on data from MarketBeat.com, the company currently has an average rating of "Hold" and a consensus target price of $15.63.

Venture Global Price Performance

The company has a fifty day moving average of $9.70.

Venture Global (NYSE:VG - Get Free Report) last announced its quarterly earnings results on Tuesday, May 13th. The company reported $0.16 earnings per share (EPS) 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. Equities research analysts anticipate that Venture Global, Inc. will post 0.52 EPS for the current year.

Venture Global Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Monday, June 30th. Investors of record on Tuesday, June 10th will be paid a $0.0165 dividend. The ex-dividend date of this dividend is Tuesday, June 10th. This represents a $0.07 dividend on an annualized basis and a yield of 0.43%.

Insiders Place Their Bets

In related news, insider Robert B. Pender acquired 250,000 shares of the company's stock in a transaction on Monday, March 10th. The stock was purchased at an average cost of $9.37 per share, with a total value of $2,342,500.00. Following the acquisition, the insider now directly owns 250,000 shares of the company's stock, valued at approximately $2,342,500. The trade was a ∞ increase in their ownership of the stock. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director Jimmy D. Staton bought 49,000 shares of the business's stock in a transaction dated Tuesday, March 11th. The shares were bought at an average price of $10.13 per share, with a total value of $496,370.00. Following the completion of the transaction, the director now owns 49,000 shares in the company, valued at approximately $496,370. This trade represents a ∞ increase in their position. The disclosure for this purchase can be found here. Insiders purchased 803,000 shares of company stock worth $8,108,260 over the last three months. Insiders own 86.73% of the company's stock.

Institutional Inflows and Outflows

A number of hedge funds have recently modified their holdings of the stock. Allianz Asset Management GmbH acquired a new stake in Venture Global during the first quarter worth about $3,547,294,000. Vanguard Group Inc. acquired a new stake in shares of Venture Global during the 1st quarter worth approximately $125,788,000. Deutsche Bank AG bought a new position in Venture Global in the first quarter valued at approximately $37,798,000. Millennium Management LLC acquired a new position in Venture Global during the first quarter valued at approximately $32,099,000. Finally, Tortoise Capital Advisors L.L.C. bought a new stake in Venture Global during the first quarter worth $28,673,000.

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.