Investors Purchase Large Volume of Call Options on Venture Global (NYSE:VG)

Venture Global, Inc. (NYSE:VG - Get Free Report) saw some unusual options trading on Tuesday. Stock traders purchased 13,044 call options on the company. This represents an increase of approximately 68% compared to the average daily volume of 7,756 call options.

Venture Global Trading Up 7.8%

Shares of VG traded up $1.10 during mid-day trading on Friday, hitting $15.21. 6,000,865 shares of the company's stock were exchanged, compared to its average volume of 7,841,979. Venture Global has a 52 week low of $6.75 and a 52 week high of $25.50. The stock has a 50-day moving average of $9.80.

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

Venture Global Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Monday, June 30th. Investors 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 annualized dividend and a dividend yield of 0.43%.

Insider Activity

In other Venture Global news, insider Robert B. Pender bought 269,500 shares of the stock in a transaction on Wednesday, March 12th. The shares were purchased at an average cost of $10.39 per share, with a total value of $2,800,105.00. Following the completion of the transaction, the insider now directly owns 719,885 shares of the company's stock, valued at $7,479,605.15. This represents a 59.84% increase in their position. The purchase was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, insider Michael Sabel bought 234,500 shares of the stock in a transaction on Friday, March 14th. The shares were acquired at an average cost of $10.53 per share, for a total transaction of $2,469,285.00. Following the completion of the transaction, the insider now directly owns 1,185,885 shares of the company's stock, valued at approximately $12,487,369.05. The trade was a 24.65% increase in their ownership of the stock. The disclosure for this purchase can be found here. Insiders acquired 803,000 shares of company stock worth $8,108,260 over the last quarter. Corporate insiders own 86.73% of the company's stock.

Institutional Trading of Venture Global

Several large investors have recently made changes to their positions in the company. Militia Capital Partners LP acquired a new stake in shares of Venture Global during the 1st quarter worth approximately $194,000. Adalta Capital Management LLC acquired a new stake in shares of Venture Global during the 1st quarter worth approximately $103,000. Scientech Research LLC acquired a new stake in shares of Venture Global during the 1st quarter worth approximately $721,000. NewEdge Advisors LLC acquired a new stake in shares of Venture Global during the 1st quarter worth approximately $460,000. Finally, Millennium Management LLC acquired a new stake in shares of Venture Global during the 1st quarter worth approximately $32,099,000.

Wall Street Analysts Forecast Growth

A number of research analysts have commented on the stock. Wall Street Zen cut shares of Venture Global from a "hold" rating to a "sell" rating in a research note on Saturday, March 15th. Scotiabank decreased their price target on shares of Venture Global from $17.00 to $15.00 and set a "sector perform" rating for the company in a report on Friday, March 7th. Wells Fargo & Company reaffirmed a "reduce" rating on shares of Venture Global in a research report on Wednesday, May 14th. Citigroup cut their price target on shares of Venture Global from $18.00 to $11.00 and set a "neutral" rating on the stock in a research report on Tuesday, March 11th. Finally, Guggenheim dropped their target price on shares of Venture Global from $27.00 to $20.00 and set a "buy" rating on the stock in a report on Monday, March 10th. 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 stock. Based on data from MarketBeat.com, the company currently has an average rating of "Hold" and an average target price of $15.63.

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.