CIBC Asset Management Inc Lowers Stock Position in Veren Inc. (NYSE:VRN)

CIBC Asset Management Inc lowered its stake in shares of Veren Inc. (NYSE:VRN - Free Report) by 59.3% in the 4th quarter, according to the company in its most recent disclosure with the SEC. The firm owned 6,375,865 shares of the company's stock after selling 9,280,439 shares during the quarter. CIBC Asset Management Inc owned approximately 1.04% of Veren worth $32,704,000 as of its most recent SEC filing.

Other institutional investors also recently added to or reduced their stakes in the company. Barclays PLC lifted its holdings in Veren by 313.7% during the third quarter. Barclays PLC now owns 132,245 shares of the company's stock valued at $813,000 after purchasing an additional 100,279 shares during the last quarter. Intact Investment Management Inc. lifted its holdings in Veren by 46.7% during the third quarter. Intact Investment Management Inc. now owns 5,458,686 shares of the company's stock valued at $33,624,000 after purchasing an additional 1,737,840 shares during the last quarter. Principal Financial Group Inc. lifted its holdings in Veren by 19.3% during the third quarter. Principal Financial Group Inc. now owns 4,038,140 shares of the company's stock valued at $24,899,000 after purchasing an additional 653,300 shares during the last quarter. Toronto Dominion Bank lifted its holdings in Veren by 302.4% during the third quarter. Toronto Dominion Bank now owns 553,902 shares of the company's stock valued at $3,406,000 after purchasing an additional 416,265 shares during the last quarter. Finally, National Bank of Canada FI lifted its holdings in Veren by 94.7% during the third quarter. National Bank of Canada FI now owns 2,217,305 shares of the company's stock valued at $13,637,000 after purchasing an additional 1,078,596 shares during the last quarter. Institutional investors own 49.37% of the company's stock.

Analyst Upgrades and Downgrades

Separately, Royal Bank of Canada lowered their price target 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.

Veren Price Performance

Shares of Veren stock traded down $0.30 on Friday, reaching $5.01. The stock had a trading volume of 18,575,752 shares, compared to its average volume of 16,436,211. Veren Inc. has a 1 year low of $4.39 and a 1 year high of $9.28. The company has a market cap of $3.06 billion, a P/E ratio of 3.58 and a beta of 2.10. 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 business's 50 day moving average is $5.17 and its two-hundred day moving average is $5.81.

Veren Profile

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.