Venture Global, Inc. Insider Acquires $2.8 Million in Stock

On March 12th, Robert B. Pender, an insider at Venture Global, Inc. (NYSE:VG), made a significant investment by purchasing 269,500 shares of the company's stock. The shares were acquired at an average price of $10.39 each, bringing the total transaction value to approximately $2,800,105.00. Following this acquisition, Pender now owns a total of 719,885 shares, which are valued at around $7,479,605.15. This recent purchase marks a substantial 59.84% increase in their stake within the company. The details of this transaction have been made public through a filing with the Securities and Exchange Commission (SEC), which can be accessed via their official site.

Stock Performance of Venture Global

On the Thursday following the transaction, Venture Global's stock opened at $10.28. The company has experienced considerable fluctuations over the past year, with a low of $8.62 and a high of $25.50.

Quarterly Earnings Results

Venture Global recently released its quarterly earnings report on March 6th, showcasing a positive performance. The company reported earnings of $0.33 per share, surpassing analyst expectations of $0.30 by $0.03. Additionally, the revenue for the quarter reached $1.52 billion. Market analysts forecast that Venture Global, Inc. is on track to achieve earnings per share of 0.52 for the current year.

Dividend Declaration

Furthermore, the company announced a quarterly dividend which is set to be distributed on March 31st. Shareholders who were on record as of March 10th will receive a dividend of $0.0165 per share. This results in an annualized dividend of $0.07, yielding approximately 0.64%. The ex-dividend date was also March 10th.

Analyst Ratings

Several financial institutions have recently assessed Venture Global's stock. Royal Bank of Canada initiated coverage with an “outperform” rating and set a target price of $20.00. Meanwhile, Scotiabank reduced their price target from $17.00 to $15.00, maintaining a “sector perform” rating. Similarly, Wells Fargo & Company lowered its price target from $18.00 to $11.00, rating it as “equal weight.” Deutsche Bank started coverage with a “buy” rating and a price target of $19.00. Finally, Bank of America has given it a “buy” rating with a target price of $23.00. Notably, while one analyst has rated the stock as a sell, four have designated it as hold, and seven analysts have given a buy rating. Overall, Venture Global holds a consensus rating of "Moderate Buy" with an average target price of $17.55 according to MarketBeat.com.

About Venture Global, Inc.

Venture Global has transformed the landscape of liquefied natural gas production and construction, positioning itself as a rapidly growing entity that supplies vital LNG to the global market. The company's groundbreaking and efficient methodologies enable it to deliver LNG to the international market more swiftly and cost-effectively compared to traditional processes.

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