Intact Investment Management Inc. cut its holdings in Veren Inc. (NYSE:VRN - Free Report) by 41.0% during the fourth quarter, according to its most recent Form 13F filing with the SEC. The fund owned 3,219,016 shares of the company's stock after selling 2,239,670 shares during the period. Intact Investment Management Inc. owned 0.53% of Veren worth $16,547,000 at the end of the most recent reporting period.
Other hedge funds also recently added to or reduced their stakes in the company. HITE Hedge Asset Management LLC acquired a new position in shares of Veren in the 3rd quarter valued at $65,155,000. Principal Financial Group Inc. lifted its position in Veren by 3.9% in the fourth quarter. Principal Financial Group Inc. now owns 4,196,340 shares of the company's stock valued at $21,562,000 after buying an additional 158,200 shares during the last quarter. The Manufacturers Life Insurance Company boosted its stake in Veren by 11.2% during the third quarter. The Manufacturers Life Insurance Company now owns 3,975,885 shares of the company's stock worth $24,505,000 after buying an additional 400,068 shares during the period. National Bank of Canada FI increased its position in shares of Veren by 94.7% during the third quarter. National Bank of Canada FI now owns 2,217,305 shares of the company's stock valued at $13,637,000 after acquiring an additional 1,078,596 shares during the last quarter. Finally, Charles Schwab Investment Management Inc. raised its stake in shares of Veren by 6.7% in the 4th quarter. Charles Schwab Investment Management Inc. now owns 1,985,175 shares of the company's stock valued at $10,201,000 after acquiring an additional 124,863 shares during the period. 49.37% of the stock is currently owned by hedge funds and other institutional investors.
Veren Trading Up 1.8 %
Shares of NYSE:VRN traded up $0.12 during mid-day trading on Tuesday, reaching $6.42. 23,508,536 shares of the company were exchanged, compared to its average volume of 8,542,038. Veren Inc. has a 1 year low of $4.40 and a 1 year high of $9.02. The company has a debt-to-equity ratio of 0.34, a current ratio of 0.88 and a quick ratio of 0.88. The firm's 50-day simple moving average is $5.32 and its 200 day simple moving average is $5.57. The firm has a market cap of $3.92 billion, a price-to-earnings ratio of 4.58 and a beta of 2.08.
Veren Cuts Dividend
The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, April 1st. Stockholders of record on Saturday, March 15th will be paid a $0.0797 dividend. The ex-dividend date is Friday, March 14th. This represents a $0.32 dividend on an annualized basis and a dividend yield of 4.97%. Veren's payout ratio is presently 100.00%.
About Veren
(
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.
Featured Articles
Before you consider Veren, you'll want to hear this.
MarketBeat keeps track of Wall Street's top-rated and best performing research analysts and the stocks they recommend to their clients on a daily basis. MarketBeat has identified the five stocks that top analysts are quietly whispering to their clients to buy now before the broader market catches on... and Veren wasn't on the list.
While Veren currently has a Buy rating among analysts, top-rated analysts believe these five stocks are better buys.
View The Five Stocks Here
With the proliferation of data centers and electric vehicles, the electric grid will only get more strained. Download this report to learn how energy stocks can play a role in your portfolio as the global demand for energy continues to grow.
Get This Free Report
Like this article? Share it with a colleague.
Link copied to clipboard.
