Insider Selling: Venture Global (NYSE:VG) CFO Sells $1,599,998.40 in Stock

Venture Global, Inc. (NYSE:VG) CFO Jonathan Thayer sold 111,111 shares of the business’s stock in a transaction that occurred on Thursday, September 17th. The shares were sold at an average price of $14.40, for a total transaction of $1,599,998.40. The sale was disclosed in a document filed with the SEC, which is accessible through this link.

Venture Global Trading Down 2.5%

VG traded down $0.35 during mid-day trading on Monday, hitting $13.67. The stock had a trading volume of 17,234,966 shares, compared to its average volume of 18,379,633. The stock’s fifty day simple moving average is $14.04 and its 200-day simple moving average is $13.29. The firm has a market capitalization of $34.18 billion, a price-to-earnings ratio of 10.76, a price-to-earnings-growth ratio of 0.56 and a beta of 0.26. Venture Global, Inc. has a 1-year low of $5.72 and a 1-year high of $17.62. The company has a debt-to-equity ratio of 3.44, a current ratio of 1.19 and a quick ratio of 1.11.

Venture Global (NYSE:VG) last issued its quarterly earnings data on Monday, August 10th. The company reported $0.51 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.50 by $0.01. The business had revenue of $4.58 billion during the quarter. Venture Global had a return on equity of 34.08% and a net margin of 21.24%. As a group, research analysts forecast that Venture Global, Inc. will post 1.69 EPS for the current fiscal year.

Venture Global Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, September 30th. Investors of record on Tuesday, September 15th will be given a $0.04 dividend. The ex-dividend date of this dividend is Tuesday, September 15th. This represents a $0.16 annualized dividend and a yield of 1.2%. This is an increase from Venture Global’s previous quarterly dividend of $0.02. Venture Global’s payout ratio is presently 12.60%.

Wall Street Analyst Weigh In

Several analysts have issued reports on the company. JPMorgan Chase & Co. raised Venture Global from a “neutral” rating to an “overweight” rating and lifted their price target for the company from $16.00 to $17.00 in a research note on Thursday, June 4th. Mizuho boosted their target price on Venture Global from $13.00 to $15.00 and gave the company a “neutral” rating in a research note on Wednesday, July 22nd. Sanford C. Bernstein initiated coverage on Venture Global in a research report on Tuesday, June 16th. They set a “market perform” rating and a $14.00 price target for the company. Wells Fargo & Company raised their price target on shares of Venture Global from $14.00 to $15.00 and gave the stock an “equal weight” rating in a research note on Wednesday, August 12th. Finally, US Capital Advisors set a $13.00 price objective on shares of Venture Global in a report on Friday, May 29th. One research analyst has rated the stock with a Strong Buy rating, eight have given a Buy rating and seven have assigned a Hold rating to the company’s stock. According to data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average target price of $16.13.

Hedge Funds Weigh In On Venture Global

Hedge funds have recently modified their holdings of the stock. Cohen & Steers Inc. increased its position in shares of Venture Global by 4.6% in the fourth quarter. Cohen & Steers Inc. now owns 4,963,166 shares of the company’s stock valued at $33,849,000 after acquiring an additional 219,505 shares during the last quarter. Bank of America Corp DE boosted its position in Venture Global by 135.6% during the first quarter. Bank of America Corp DE now owns 4,174,444 shares of the company’s stock valued at $65,789,000 after purchasing an additional 2,402,771 shares during the last quarter. Catalyst Capital Advisors LLC grew its stake in Venture Global by 1.7% in the first quarter. Catalyst Capital Advisors LLC now owns 2,918,823 shares of the company’s stock valued at $46,001,000 after purchasing an additional 47,425 shares in the last quarter. Renaissance Technologies LLC grew its stake in Venture Global by 104.6% in the first quarter. Renaissance Technologies LLC now owns 2,046,840 shares of the company’s stock valued at $32,258,000 after purchasing an additional 1,046,300 shares in the last quarter. Finally, Rubric Capital Management LP acquired a new position in shares of Venture Global during the 1st quarter worth approximately $23,640,000.

About Venture Global

Venture Global, Inc is a liquefied natural gas (LNG) company that develops, constructs and operates LNG export facilities in the United States. The company sources natural gas from domestic markets, liquefies it at its coastal facilities and supplies LNG to customers in international markets.

Venture Global’s operating and development portfolio is concentrated along the U.S. Gulf Coast. Its Calcasieu Pass LNG facility in Louisiana has entered commercial operations, while its Plaquemines LNG project in Louisiana is being developed and brought into service.