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

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

Analyst Upgrades and Downgrades

A number of equities analysts have recently issued reports on the company. Bank of America reduced their price target on Venture Global from $14.00 to $12.00 and set a "buy" rating on the stock in a research report on Tuesday, April 29th. Scotiabank reduced their target price on Venture Global from $17.00 to $15.00 and set a "sector perform" rating on the stock in a research report on Friday, March 7th. The Goldman Sachs Group lowered their price target on Venture Global from $20.00 to $17.50 and set a "buy" rating for the company in a report on Wednesday, May 14th. JPMorgan Chase & Co. dropped their price target on Venture Global from $16.00 to $15.00 and set an "overweight" rating on the stock in a research note on Thursday, April 24th. Finally, Mizuho cut their price objective on shares of Venture Global from $25.00 to $18.00 and set an "outperform" rating on the stock in a report on Tuesday, March 11th. Two investment analysts have rated the stock with a sell rating, three have issued a hold rating and eight have given a buy rating to the stock. According to MarketBeat, Venture Global presently has a consensus rating of "Hold" and a consensus price target of $15.63.

Venture Global Stock Performance

The firm has a 50-day moving average price of $9.62.

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

Venture Global Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Monday, June 30th. Stockholders of record on Tuesday, June 10th will be given a dividend of $0.0165 per share. The ex-dividend date of this dividend is Tuesday, June 10th. This represents a $0.07 dividend on an annualized basis and a dividend yield of 0.47%.

Insider Buying and Selling

In other news, Director Jimmy D. Staton bought 49,000 shares of the firm's stock in a transaction dated Tuesday, March 11th. The shares were acquired at an average price of $10.13 per share, for a total transaction of $496,370.00. Following the completion of the transaction, the director now directly owns 49,000 shares in the company, valued at $496,370. The trade was a ∞ increase in their position. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, insider Robert B. Pender purchased 250,000 shares of the company's stock in a transaction that occurred on Monday, March 10th. The shares were purchased at an average price of $9.37 per share, with a total value of $2,342,500.00. Following the completion of the transaction, the insider now directly owns 250,000 shares of the company's stock, valued at $2,342,500. This represents a ∞ increase in their position. The disclosure for this purchase can be found here. In the last quarter, insiders purchased 803,000 shares of company stock valued at $8,108,260. 86.73% of the stock is owned by corporate insiders.

Institutional Investors Weigh In On Venture Global

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

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.