Traders Purchase High Volume of Call Options on Venture Global (NYSE:VG)

Venture Global, Inc. (NYSE:VG) saw unusually large options trading activity on Friday. Stock traders bought 12,442 call options on the stock. This represents an increase of approximately 74% compared to the average daily volume of 7,137 call options.

Venture Global Stock Down 6.9 %

NYSE:VG opened at $9.92 on Friday. Venture Global has a 12-month low of $8.62 and a 12-month high of $25.50.

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

Venture Global Dividend Announcement

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

Wall Street Analyst Weigh In

VG has been the topic of a number of research analyst reports. Royal Bank of Canada initiated coverage on shares of Venture Global in a report on Tuesday, February 18th. They set an “outperform” rating and a $20.00 price objective on the stock. Sanford C. Bernstein initiated coverage on Venture Global in a report on Tuesday, February 4th. They issued a “market perform” rating and a $20.00 price target on the stock. Deutsche Bank Aktiengesellschaft assumed coverage on Venture Global in a research note on Tuesday, February 18th. They issued a “buy” rating and a $19.00 price objective for the company. Guggenheim decreased their target price on Venture Global from $27.00 to $20.00 and set a “buy” rating on the stock in a research report on Monday, March 10th. Finally, Wells Fargo & Company dropped their price target on Venture Global from $18.00 to $11.00 and set an “equal weight” rating for the company in a research report on Tuesday, March 11th. One investment analyst has rated the stock with a sell rating, four have issued a hold rating and seven have issued a buy rating to the company’s stock. According to MarketBeat, Venture Global has an average rating of “Moderate Buy” and an average target price of $17.55.

Insider Transactions at Venture Global

In other Venture Global news, insider Robert B. Pender acquired 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 acquisition, the insider now directly owns 250,000 shares of the company’s stock, valued at approximately $2,342,500. The trade was a ∞ increase in their position. The acquisition was disclosed in a filing with the SEC, which is available through this hyperlink. Also, insider Michael Sabel bought 234,500 shares of Venture Global stock in a transaction on Friday, March 14th. The stock was acquired at an average cost of $10.53 per share, with a total value of $2,469,285.00. Following the acquisition, the insider now owns 1,185,885 shares of the company’s stock, valued at $12,487,369.05. This trade represents a 24.65 % increase in their position. The disclosure for this purchase can be found here. In the last quarter, insiders bought 803,000 shares of company stock worth $8,108,260. Company insiders own 4.72% of the company’s stock.

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.