Franklin Resources Inc. Has $168.18 Million Position in Veren Inc. (NYSE:VRN)

Franklin Resources Inc. trimmed its position in shares of Veren Inc. (NYSE:VRN - Free Report) by 2.3% during the 3rd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 25,670,234 shares of the company's stock after selling 596,269 shares during the period. Franklin Resources Inc. owned approximately 4.17% of Veren worth $168,181,000 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 bought a new stake in Veren during the second quarter worth about $42,000. Olympiad Research LP raised its stake in shares of Veren by 36.2% in the third 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. Fifth Third Bancorp acquired a new position in shares of Veren during the second quarter worth approximately $85,000. DORCHESTER WEALTH MANAGEMENT Co acquired a new stake in shares of Veren in the third quarter valued at approximately $79,000. Finally, Oliver Lagore Vanvalin Investment Group acquired a new position in Veren during the 2nd quarter worth $103,000. Institutional investors and hedge funds own 49.37% of the company's stock.

Veren Stock Down 1.0 %

Shares of VRN traded down $0.05 on Friday, hitting $4.86. The company's stock had a trading volume of 8,154,151 shares, compared to its average volume of 4,828,139. Veren Inc. has a fifty-two week low of $4.82 and a fifty-two week high of $9.28. 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 firm's fifty day moving average price is $5.56 and its 200-day moving average price is $6.70. The firm has a market capitalization of $2.99 billion, a price-to-earnings ratio of 3.47 and a beta of 2.16.

Veren Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Thursday, January 2nd. Shareholders of record on Sunday, December 15th will be given a dividend of $0.085 per share. The ex-dividend date of this dividend is Friday, December 13th. This is a boost from Veren's previous quarterly dividend of $0.08. This represents a $0.34 annualized dividend and a yield of 7.00%. Veren's payout ratio is 24.29%.

Analyst Ratings Changes

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

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.