Stock Traders Buy Large Volume of Call Options on Venture Global (NYSE:VG)

Venture Global, Inc. (NYSE:VG - Get Free Report) was the recipient of some unusual options trading activity on Tuesday. Investors acquired 13,044 call options on the stock. This is an increase of approximately 68% compared to the typical daily volume of 7,756 call options.

Venture Global Stock Performance

Venture Global stock traded down $0.87 during midday trading on Thursday, hitting $14.04. 8,505,117 shares of the company's stock were exchanged, compared to its average volume of 7,862,073. Venture Global has a 12-month low of $6.75 and a 12-month high of $25.50. The business has a 50 day moving average price of $9.62.

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 company had revenue of $2.89 billion during the quarter, compared to analysts' expectations of $2.83 billion. As a group, equities analysts expect that Venture Global will post 0.52 earnings per share for the current year.

Venture Global Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Monday, June 30th. Stockholders of record on Tuesday, June 10th will be paid 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%.

Analyst Ratings Changes

A number of research firms have recently commented on VG. UBS Group assumed coverage on Venture Global in a report on Friday, April 4th. They issued a "buy" rating and a $14.00 price objective on the stock. Bank of America dropped their price target on shares of Venture Global from $14.00 to $12.00 and set a "buy" rating on the stock in a research note on Tuesday, April 29th. JPMorgan Chase & Co. reduced their price objective on shares of Venture Global from $16.00 to $15.00 and set an "overweight" rating for the company in a research report on Thursday, April 24th. The Goldman Sachs Group dropped their target price 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. Finally, Scotiabank cut their price target on shares of Venture Global from $17.00 to $15.00 and set a "sector perform" rating on the stock in a research note on Friday, March 7th. 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. According to MarketBeat, the company currently has a consensus rating of "Hold" and an average target price of $15.63.

Insider Activity

In related news, insider Robert B. Pender bought 250,000 shares of the stock in a transaction that occurred 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 purchase, the insider now directly owns 250,000 shares of the company's stock, valued at $2,342,500. This trade represents a ∞ increase in their position. The purchase was disclosed in a document filed with the SEC, which can be accessed through this link. Also, Director Jimmy D. Staton acquired 49,000 shares of the firm's stock in a transaction dated Tuesday, March 11th. The shares were purchased at an average cost 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. The trade was a ∞ increase in their position. The disclosure for this purchase can be found here. In the last quarter, insiders have bought 803,000 shares of company stock valued at $8,108,260. 86.73% of the stock is currently owned by insiders.

Hedge Funds Weigh In On Venture Global

Several institutional investors and hedge funds have recently added to or reduced their stakes in the business. Renaissance Capital LLC purchased a new position in shares of Venture Global during the 1st quarter worth approximately $1,439,000. Defined Wealth Management LLC acquired a new stake in Venture Global during the 1st quarter valued at $114,000. Wealth Enhancement Advisory Services LLC purchased a new position in Venture Global during the first quarter worth $156,000. Exchange Traded Concepts LLC acquired a new position in shares of Venture Global in the first quarter worth $1,316,000. Finally, Forefront Wealth Management Inc. acquired a new position in shares of Venture Global in the first quarter worth $938,000.

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.