Aigen Investment Management LP purchased a new stake in shares of Veren Inc. (NYSE:VRN - Free Report) during the 3rd quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor purchased 197,662 shares of the company's stock, valued at approximately $1,217,000.
Other hedge funds and other institutional investors have also recently modified their holdings of the company. Dixon Mitchell Investment Counsel Inc. bought a new position in shares of Veren in the second quarter worth approximately $36,000. EverSource Wealth Advisors LLC purchased a new stake in Veren in the second quarter worth approximately $42,000. Pacifica Partners Inc. purchased a new stake in Veren in the second quarter worth approximately $61,000. Olympiad Research LP boosted its stake in Veren by 36.2% in the third quarter. Olympiad Research LP now owns 29,088 shares of the company's stock worth $179,000 after buying an additional 7,724 shares in the last quarter. Finally, Fifth Third Bancorp purchased a new stake in Veren in the second quarter worth approximately $85,000. 49.37% of the stock is currently owned by institutional investors.
Analyst Ratings Changes
Several research analysts have recently issued reports on VRN shares. Royal Bank of Canada cut their target price on shares of Veren from $12.00 to $10.00 and set an "outperform" rating on the stock in a report on Friday, November 1st. Raymond James started coverage on shares of Veren in a report on Friday, October 18th. They issued a "strong-buy" rating and a $13.00 price target on the stock.
Check Out Our Latest Stock Analysis on Veren
Veren Trading Down 0.1 %
NYSE:VRN traded down $0.01 during mid-day trading on Wednesday, reaching $5.15. The company's stock had a trading volume of 7,620,590 shares, compared to its average volume of 4,679,038. Veren Inc. has a 12-month low of $4.90 and a 12-month high of $9.28. The firm's fifty day simple moving average is $6.11. The company has a current ratio of 0.88, a quick ratio of 0.88 and a debt-to-equity ratio of 0.34. The stock has a market capitalization of $3.17 billion, a PE ratio of 3.68 and a beta of 2.17.
Veren Increases Dividend
The company also recently declared a quarterly dividend, which will be paid on Thursday, January 2nd. Shareholders of record on Sunday, December 15th will be paid a dividend of $0.085 per share. This is an increase from Veren's previous quarterly dividend of $0.08. This represents a $0.34 dividend on an annualized basis and a dividend yield of 6.61%. The ex-dividend date of this dividend is Friday, December 13th. Veren's payout ratio is currently 24.29%.
About Veren
(
Free Report)
Veren Inc explores, develops, and produces oil and gas properties in Canada and the United States. The company focuses on crude oil, tight oil, natural gas liquids, shale gas, and natural gas reserves. Its properties are located in the provinces of Saskatchewan, Alberta, British Columbia, and Manitoba; and the states of North Dakota.
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