Veren (NYSE:VRN - Free Report) had its price target lowered by Royal Bank of Canada from $12.00 to $10.00 in a report issued on Friday, Benzinga reports. Royal Bank of Canada currently has an outperform rating on the stock.
Other research analysts also recently issued reports about the stock. Raymond James assumed coverage on shares of Veren in a research report on Friday, October 18th. They set a "strong-buy" rating and a $13.00 target price for the company. Scotiabank reduced their price objective on Veren from $16.00 to $15.00 and set a "sector outperform" rating for the company in a report on Friday, July 12th.
Read Our Latest Research Report on VRN
Veren Price Performance
Shares of Veren stock traded down $0.19 during trading hours on Friday, hitting $4.97. 11,046,281 shares of the company's stock traded hands, compared to its average volume of 4,544,458. The stock has a market capitalization of $3.06 billion, a PE ratio of -84.82 and a beta of 2.14. The stock's fifty day moving average is $6.44. The company has a debt-to-equity ratio of 0.36, a current ratio of 0.49 and a quick ratio of 0.49. Veren has a 12-month low of $4.90 and a 12-month high of $9.28.
Veren Increases Dividend
The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, January 2nd. Investors of record on Sunday, December 15th will be issued a $0.085 dividend. The ex-dividend date of this dividend is Friday, December 13th. This is an increase from Veren's previous quarterly dividend of $0.08. This represents a $0.34 annualized dividend and a yield of 6.84%. Veren's dividend payout ratio (DPR) is -566.57%.
Institutional Trading of Veren
Hedge funds and other institutional investors have recently made changes to their positions in the stock. The Manufacturers Life Insurance Company purchased a new position in Veren during the 2nd quarter valued at about $28,162,000. Lorne Steinberg Wealth Management Inc. purchased a new position in Veren during the second quarter valued at approximately $624,000. Ninepoint Partners LP bought a new stake in Veren during the 2nd quarter worth approximately $125,920,000. Merewether Investment Management LP purchased a new stake in Veren in the 2nd quarter worth approximately $36,681,000. Finally, Renaissance Technologies LLC bought a new position in Veren in the 2nd quarter valued at $686,000. 49.37% of the stock is currently owned by institutional investors.
About Veren
(
Get 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.
Read More
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
Which stocks are major institutional investors including hedge funds and endowments buying in today's market? Click the link below and we'll send you MarketBeat's list of thirteen stocks that institutional investors are buying up as quickly as they can.
Get This Free Report
Like this article? Share it with a colleague.
Link copied to clipboard.
