DGS Capital Management LLC Purchases 57,719 Shares of Veren Inc. (NYSE:VRN)

DGS Capital Management LLC boosted its stake in shares of Veren Inc. (NYSE:VRN - Free Report) by 302.3% in the fourth quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 76,814 shares of the company's stock after purchasing an additional 57,719 shares during the quarter. DGS Capital Management LLC's holdings in Veren were worth $395,000 at the end of the most recent quarter.

Other large investors have also recently added to or reduced their stakes in the company. EverSource Wealth Advisors LLC acquired a new position in shares of Veren during the second quarter worth approximately $42,000. Arkadios Wealth Advisors acquired a new position in shares of Veren during the fourth quarter worth approximately $59,000. DORCHESTER WEALTH MANAGEMENT Co acquired a new position in shares of Veren during the third quarter worth approximately $79,000. Oliver Lagore Vanvalin Investment Group acquired a new position in shares of Veren during the second quarter worth approximately $103,000. Finally, Evergreen Capital Management LLC acquired a new position in shares of Veren in the second quarter valued at $112,000. Institutional investors own 49.37% of the company's stock.

Veren Price Performance

Veren stock traded down $0.08 during mid-day trading on Friday, hitting $5.28. 17,829,869 shares of the company were exchanged, compared to its average volume of 12,260,689. The company has a quick ratio of 0.88, a current ratio of 0.88 and a debt-to-equity ratio of 0.34. The business has a fifty day moving average of $5.17 and a 200 day moving average of $6.12. Veren Inc. has a 1-year low of $4.39 and a 1-year high of $9.28. The company has a market capitalization of $3.23 billion, a PE ratio of 3.77 and a beta of 2.13.

Veren (NYSE:VRN - Get Free Report) last released its quarterly earnings data on Thursday, October 31st. The company reported $0.21 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.25 by ($0.04). Veren had a return on equity of 12.23% and a net margin of 26.93%. The company had revenue of $813.63 million for the quarter, compared to analyst estimates of $738.93 million. During the same quarter in the prior year, the company earned $0.31 earnings per share. As a group, sell-side analysts expect that Veren Inc. will post 0.96 earnings per share for the current year.

Veren Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Thursday, January 2nd. Shareholders of record on Sunday, December 15th were paid a dividend of $0.085 per share. This is a positive change from Veren's previous quarterly dividend of $0.08. This represents a $0.34 annualized dividend and a yield of 6.44%. The ex-dividend date was Friday, December 13th. Veren's dividend payout ratio is currently 23.57%.

Wall Street Analysts Forecast Growth

A number of brokerages recently commented on VRN. Raymond James began coverage on Veren in a research note on Friday, October 18th. They issued a "strong-buy" rating and a $13.00 target price for the company. Royal Bank of Canada cut their target price on Veren from $12.00 to $10.00 and set an "outperform" rating for the company in a research note on Friday, November 1st.

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.