Gagnon Securities LLC Acquires 333,270 Shares of Veren Inc. (NYSE:VRN)

Gagnon Securities LLC grew its position in Veren Inc. (NYSE:VRN - Free Report) by 44.2% in the 4th quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 1,086,791 shares of the company's stock after buying an additional 333,270 shares during the quarter. Veren accounts for about 1.1% of Gagnon Securities LLC's portfolio, making the stock its 28th largest holding. Gagnon Securities LLC owned about 0.18% of Veren worth $5,586,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds also recently made changes to their positions in the company. Barclays PLC grew its holdings in shares of Veren by 313.7% during the third quarter. Barclays PLC now owns 132,245 shares of the company's stock worth $813,000 after purchasing an additional 100,279 shares during the last quarter. Intact Investment Management Inc. increased its position in Veren by 46.7% in the 3rd quarter. Intact Investment Management Inc. now owns 5,458,686 shares of the company's stock valued at $33,624,000 after acquiring an additional 1,737,840 shares during the period. Principal Financial Group Inc. raised its stake in shares of 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 acquiring an additional 653,300 shares during the last quarter. Toronto Dominion Bank lifted its holdings in shares of Veren by 302.4% during the third quarter. Toronto Dominion Bank now owns 553,902 shares of the company's stock worth $3,406,000 after purchasing an additional 416,265 shares during the period. Finally, National Bank of Canada FI grew its stake in shares of Veren by 94.7% in the third quarter. National Bank of Canada FI now owns 2,217,305 shares of the company's stock worth $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.

Wall Street Analyst Weigh In

VRN has been the topic of several recent research reports. 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 report on Friday, November 1st. Raymond James began coverage on Veren in a research note on Friday, October 18th. They issued a "strong-buy" rating and a $13.00 price objective on the stock.

Veren Stock Up 0.5 %

Shares of NYSE:VRN traded up $0.03 during midday trading on Wednesday, hitting $5.20. 13,786,192 shares of the company's stock were exchanged, compared to its average volume of 16,664,123. The company has a debt-to-equity ratio of 0.34, a current ratio of 0.88 and a quick ratio of 0.88. Veren Inc. has a 12 month low of $4.39 and a 12 month high of $9.28. The company has a market cap of $3.18 billion, a PE ratio of 3.70 and a beta of 2.10. The stock has a 50 day moving average price of $5.14 and a 200-day moving average price of $5.97.

Veren Company 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.