Canada Pension Plan Investment Board Makes New Investment in Veren Inc. (NYSE:VRN)

Canada Pension Plan Investment Board acquired a new stake in Veren Inc. (NYSE:VRN - Free Report) in the fourth quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund acquired 2,000,000 shares of the company's stock, valued at approximately $10,269,000. Canada Pension Plan Investment Board owned approximately 0.33% of Veren as of its most recent filing with the Securities & Exchange Commission.

Several other large investors have also recently added to or reduced their stakes in the business. Vanguard Group Inc. increased its stake in shares of Veren by 2.1% during the fourth quarter. Vanguard Group Inc. now owns 25,082,135 shares of the company's stock worth $128,947,000 after buying an additional 507,176 shares during the period. Ninepoint Partners LP boosted its position in shares of Veren by 16.6% during the 4th quarter. Ninepoint Partners LP now owns 21,100,000 shares of the company's stock worth $108,454,000 after acquiring an additional 3,000,000 shares in the last quarter. Invesco Ltd. increased its stake in Veren by 1.2% in the fourth quarter. Invesco Ltd. now owns 6,099,882 shares of the company's stock valued at $31,353,000 after purchasing an additional 69,969 shares during the last quarter. Principal Financial Group Inc. raised its holdings in Veren by 3.9% during the fourth quarter. Principal Financial Group Inc. now owns 4,196,340 shares of the company's stock worth $21,562,000 after purchasing an additional 158,200 shares in the last quarter. Finally, Bornite Capital Management LP purchased a new stake in shares of Veren during the 4th quarter worth approximately $10,280,000. 49.37% of the stock is owned by hedge funds and other institutional investors.

Veren Stock Up 0.5 %

Shares of NYSE VRN traded up $0.03 during mid-day trading on Friday, reaching $6.14. The company had a trading volume of 21,609,815 shares, compared to its average volume of 10,466,544. The firm has a 50 day simple moving average of $5.84 and a two-hundred day simple moving average of $5.52. Veren Inc. has a 52-week low of $4.40 and a 52-week high of $9.02. 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 cap of $3.76 billion, a P/E ratio of 4.39 and a beta of 1.45.

Veren Cuts Dividend

The company also recently announced a quarterly dividend, which was paid on Tuesday, April 1st. Stockholders of record on Saturday, March 15th were given a dividend of $0.0797 per share. This represents a $0.32 dividend on an annualized basis and a dividend yield of 5.19%. The ex-dividend date of this dividend was Friday, March 14th. Veren's dividend payout ratio (DPR) is currently 96.88%.

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.