Entropy Technologies LP purchased a new position in Veren Inc. (NYSE:VRN - Free Report) in the third quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm purchased 241,500 shares of the company's stock, valued at approximately $1,485,000.
Other hedge funds and other institutional investors also recently made changes to their positions in the company. Dixon Mitchell Investment Counsel Inc. purchased a new position in shares of Veren during the second quarter worth approximately $36,000. EverSource Wealth Advisors LLC purchased a new position in shares of Veren in the second quarter worth $42,000. Pacifica Partners Inc. purchased a new stake in Veren during the 2nd quarter valued at $61,000. Olympiad Research LP grew its holdings in Veren by 36.2% in the 3rd quarter. Olympiad Research LP now owns 29,088 shares of the company's stock worth $179,000 after acquiring an additional 7,724 shares during the last quarter. Finally, Fifth Third Bancorp bought a new position in shares of Veren during the second quarter valued at about $85,000. 49.37% of the stock is currently owned by institutional investors.
Veren Stock Performance
VRN stock traded up $0.01 during midday trading on Wednesday, reaching $5.16. The stock had a trading volume of 5,346,089 shares, compared to its average volume of 4,668,338. The firm has a fifty day simple moving average of $6.14. Veren Inc. has a 52-week low of $4.90 and a 52-week high of $9.28. 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 firm has a market cap of $3.18 billion, a PE ratio of 3.68 and a beta of 2.17.
Veren Increases Dividend
The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, January 2nd. Shareholders of record on Sunday, December 15th will be issued a $0.085 dividend. 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 6.59%. The ex-dividend date of this dividend is Friday, December 13th. Veren's dividend payout ratio (DPR) is presently 24.29%.
Wall Street Analysts Forecast Growth
A number of equities analysts have weighed in on the stock. Raymond James began coverage on shares of Veren in a research note on Friday, October 18th. They set 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 on the stock in a research note on Friday, November 1st.
Check Out Our Latest Research Report on Veren
Veren Profile
(
Free Report)
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.
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