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

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

Analyst Ratings Changes

Several equities analysts have recently issued reports on the company. Bank of America began coverage on Venture Global in a research note on Tuesday, February 18th. They issued a “buy” rating and a $23.00 price objective for the company. Deutsche Bank Aktiengesellschaft assumed coverage on shares of Venture Global in a research note on Tuesday, February 18th. They issued a “buy” rating and a $19.00 price target for the company. JPMorgan Chase & Co. reduced their price objective on shares of Venture Global from $25.00 to $16.00 and set an “overweight” rating on the stock in a report on Friday, March 7th. Wells Fargo & Company dropped their target price on Venture Global from $18.00 to $11.00 and set an “equal weight” rating on the stock in a report on Tuesday, March 11th. Finally, Citigroup decreased their price target on Venture Global from $18.00 to $11.00 and set a “neutral” rating for the company in a report on Tuesday, March 11th. One equities research analyst has rated the stock with a sell rating, four have assigned a hold rating and seven have assigned a buy rating to the stock. According to MarketBeat, Venture Global currently has a consensus rating of “Moderate Buy” and a consensus target price of $17.55.

Venture Global Stock Performance

VG opened at $9.92 on Friday. Venture Global has a 52 week low of $8.62 and a 52 week high of $25.50.

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

Venture Global Dividend Announcement

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

Insider Activity at Venture Global

In related news, Director Jimmy D. Staton acquired 49,000 shares of Venture Global stock in a transaction dated Tuesday, March 11th. The shares were acquired at an average cost of $10.13 per share, for a total transaction of $496,370.00. Following the completion of the purchase, the director now owns 49,000 shares in the company, valued at approximately $496,370. The trade was a ∞ increase in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, insider Robert B. Pender bought 269,500 shares of the firm’s stock in a transaction that occurred on Wednesday, March 12th. The stock was bought at an average price of $10.39 per share, with a total value of $2,800,105.00. Following the completion of the acquisition, the insider now owns 719,885 shares of the company’s stock, valued at $7,479,605.15. This trade represents a 59.84 % increase in their position. The disclosure for this purchase can be found here. In the last 90 days, insiders have bought 803,000 shares of company stock worth $8,108,260. 4.72% of the stock is currently owned by company insiders.

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.