Venture Global Sees Unusually Large Options Volume (NYSE:VG)

Venture Global, Inc. (NYSE:VG) saw some unusual options trading on Friday. Traders purchased 12,442 call options on the stock. This is an increase of approximately 74% compared to the average volume of 7,137 call options.

Insider Buying and Selling at Venture Global

In other news, insider Michael Sabel acquired 234,500 shares of Venture Global stock in a transaction on Friday, March 14th. The stock was bought at an average cost of $10.53 per share, with a total value of $2,469,285.00. Following the completion of the purchase, the insider now owns 1,185,885 shares of the company’s stock, valued at $12,487,369.05. This represents a 24.65 % increase in their ownership of the stock. The purchase was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, Director Jimmy D. Staton bought 49,000 shares of the company’s stock in a transaction dated Tuesday, March 11th. The stock was purchased at an average cost of $10.13 per share, for a total transaction of $496,370.00. Following the completion of the transaction, the director now owns 49,000 shares of the company’s stock, valued at $496,370. This represents a ∞ increase in their ownership of the stock. The disclosure for this purchase can be found here. Over the last 90 days, insiders have purchased 803,000 shares of company stock valued at $8,108,260. Corporate insiders own 4.72% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of research firms have recently issued reports on VG. Scotiabank reduced their target price on Venture Global from $17.00 to $15.00 and set a “sector perform” rating for the company in a report on Friday, March 7th. Mizuho decreased their price objective on Venture Global from $25.00 to $18.00 and set an “outperform” rating for the company in a research report on Tuesday, March 11th. Sanford C. Bernstein began coverage on Venture Global in a research note on Tuesday, February 4th. They set a “market perform” rating and a $20.00 target price on the stock. Guggenheim reduced their price target on shares of Venture Global from $27.00 to $20.00 and set a “buy” rating for the company in a research report on Monday, March 10th. Finally, Royal Bank of Canada assumed coverage on shares of Venture Global in a research note on Tuesday, February 18th. They set an “outperform” rating and a $20.00 target price for the company. One analyst has rated the stock with a sell rating, four have issued a hold rating and seven have issued a buy rating to the stock. According to data from MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus target price of $17.55.

Venture Global Stock Performance

VG stock opened at $9.92 on Friday. Venture Global has a 1 year low of $8.62 and a 1 year high of $25.50.

Venture Global (NYSE:VG) last announced its quarterly earnings results on Thursday, March 6th. The company reported $0.33 earnings per share for the quarter, topping analysts’ consensus estimates of $0.30 by $0.03. The company had revenue of $1.52 billion during the quarter. On average, equities analysts predict that Venture Global will post 0.52 EPS for the current fiscal year.

Venture Global Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Monday, March 31st. Shareholders of record on Monday, March 10th will be given a dividend of $0.0165 per share. The ex-dividend date is Monday, March 10th. This represents a $0.07 dividend on an annualized basis and a yield of 0.67%.

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.