DRW Securities LLC Makes New $1.41 Million Investment in Veren Inc. (NYSE:VRN)

DRW Securities LLC purchased a new stake in Veren Inc. (NYSE:VRN - Free Report) in the third quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund purchased 230,000 shares of the company's stock, valued at approximately $1,414,000.

Several other institutional investors have also made changes to their positions in the stock. Dynamic Technology Lab Private Ltd acquired a new position in Veren in the 3rd quarter valued at $1,065,000. Charles Schwab Investment Management Inc. increased its position in shares of Veren by 2.8% in the third quarter. Charles Schwab Investment Management Inc. now owns 1,860,312 shares of the company's stock worth $11,470,000 after purchasing an additional 50,997 shares during the period. Foundry Partners LLC acquired a new position in Veren in the third quarter valued at about $6,734,000. PCJ Investment Counsel Ltd. lifted its position in Veren by 36.1% during the third quarter. PCJ Investment Counsel Ltd. now owns 101,610 shares of the company's stock worth $626,000 after purchasing an additional 26,940 shares during the period. Finally, Aigen Investment Management LP acquired a new stake in Veren during the third quarter worth about $1,217,000. 49.37% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

Several equities analysts have recently commented on the stock. Raymond James initiated coverage on shares of Veren in a research report on Friday, October 18th. They issued a "strong-buy" rating and a $13.00 target price for the company. Royal Bank of Canada lowered their price objective on shares of Veren from $12.00 to $10.00 and set an "outperform" rating for the company in a research report on Friday, November 1st.

Veren Trading Down 2.7 %

NYSE VRN traded down $0.14 during trading on Tuesday, hitting $5.20. 6,816,501 shares of the company's stock were exchanged, compared to its average volume of 4,728,522. The firm's 50 day moving average price is $5.89. Veren Inc. has a fifty-two week low of $4.90 and a fifty-two week high of $9.28. The company has a debt-to-equity ratio of 0.34, a quick ratio of 0.88 and a current ratio of 0.88. The stock has a market capitalization of $3.20 billion, a P/E ratio of 3.71 and a beta of 2.17.

Veren Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, January 2nd. Investors of record on Sunday, December 15th will be paid a $0.085 dividend. This is an increase from Veren's previous quarterly dividend of $0.08. The ex-dividend date of this dividend is Friday, December 13th. This represents a $0.34 annualized dividend and a yield of 6.54%. Veren's dividend payout ratio is presently 24.29%.

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.