2,000,000 Shares in Veren Inc. (NYSE:VRN) Acquired by Bornite Capital Management LP

Bornite Capital Management LP purchased a new stake in Veren Inc. (NYSE:VRN - Free Report) in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm purchased 2,000,000 shares of the company's stock, valued at approximately $10,280,000. Bornite Capital Management LP owned 0.33% of Veren as of its most recent SEC filing.

A number of other institutional investors have also recently bought and sold shares of the stock. Ninepoint Partners LP grew its holdings in shares of Veren by 16.6% during the fourth quarter. Ninepoint Partners LP now owns 21,100,000 shares of the company's stock valued at $108,454,000 after buying an additional 3,000,000 shares in the last quarter. Wexford Capital LP acquired a new stake in Veren during the 3rd quarter worth about $9,322,000. Trexquant Investment LP grew its stake in Veren by 329.9% during the 4th quarter. Trexquant Investment LP now owns 1,489,872 shares of the company's stock valued at $7,658,000 after acquiring an additional 1,143,293 shares in the last quarter. South Dakota Investment Council increased its holdings in shares of Veren by 194.2% in the 4th quarter. South Dakota Investment Council now owns 1,731,831 shares of the company's stock valued at $8,902,000 after purchasing an additional 1,143,159 shares during the period. Finally, National Bank of Canada FI lifted its position in shares of Veren by 94.7% in the third quarter. National Bank of Canada FI now owns 2,217,305 shares of the company's stock worth $13,637,000 after purchasing an additional 1,078,596 shares in the last quarter. Hedge funds and other institutional investors own 49.37% of the company's stock.

Veren Stock Up 1.8 %

VRN traded up $0.10 on Wednesday, reaching $5.26. 15,033,963 shares of the company traded hands, compared to its average volume of 9,597,319. The company has a market cap of $3.22 billion, a price-to-earnings ratio of 3.75 and a beta of 1.45. The company has a debt-to-equity ratio of 0.34, a current ratio of 0.88 and a quick ratio of 0.88. The stock's 50 day moving average price is $5.63 and its 200-day moving average price is $5.55. Veren Inc. has a 52-week low of $4.40 and a 52-week high of $9.02.

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Veren Cuts Dividend

The business also recently declared a quarterly dividend, which was paid on Tuesday, April 1st. Stockholders of record on Saturday, March 15th were issued a dividend of $0.0797 per share. This represents a $0.32 annualized dividend and a dividend yield of 6.06%. The ex-dividend date of this dividend was Friday, March 14th. Veren's dividend payout ratio is currently 100.00%.

About Veren

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.