American Century Companies Inc. Acquires Shares of 4,066,921 Veren Inc. (NYSE:VRN)

American Century Companies Inc. purchased a new position in shares of Veren Inc. (NYSE:VRN - Free Report) during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm purchased 4,066,921 shares of the company's stock, valued at approximately $32,076,000. American Century Companies Inc. owned 0.66% of Veren as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds and other institutional investors have also bought and sold shares of the company. CIBC Asset Management Inc acquired a new stake in shares of Veren in the second quarter valued at approximately $155,853,000. TD Asset Management Inc bought a new stake in shares of Veren during the 2nd quarter valued at $30,556,000. Intact Investment Management Inc. acquired a new stake in shares of Veren during the 2nd quarter worth $29,344,000. Principal Financial Group Inc. bought a new position in shares of Veren in the second quarter worth $26,691,000. Finally, National Bank of Canada FI acquired a new position in Veren in the second quarter valued at about $8,896,000. Institutional investors and hedge funds own 49.37% of the company's stock.

Wall Street Analyst Weigh In

Separately, Scotiabank decreased their target price on shares of Veren from $16.00 to $15.00 and set a "sector outperform" rating on the stock in a report on Friday, July 12th.

Veren Trading Down 0.5 %

NYSE VRN traded down $0.04 on Wednesday, hitting $6.41. 5,199,927 shares of the company's stock were exchanged, compared to its average volume of 4,304,282. The business has a 50-day moving average price of $7.17. The company has a market cap of $3.96 billion, a PE ratio of -80.06 and a beta of 2.16. Veren Inc. has a 52 week low of $6.03 and a 52 week high of $9.28. The company has a current ratio of 0.49, a quick ratio of 0.49 and a debt-to-equity ratio of 0.36.

Veren (NYSE:VRN - Get Free Report) last released its quarterly earnings data on Thursday, July 25th. The company reported $0.28 earnings per share for the quarter, meeting the consensus estimate of $0.28. The business had revenue of $852.57 million for the quarter, compared to analyst estimates of $821.00 million. Veren had a positive return on equity of 13.50% and a negative net margin of 0.69%. As a group, analysts predict that Veren Inc. will post 1.06 earnings per share for the current year.

Veren Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Tuesday, October 1st. Shareholders of record on Sunday, September 15th will be given a $0.0834 dividend. The ex-dividend date of this dividend is Friday, September 13th. This represents a $0.33 dividend on an annualized basis and a yield of 5.21%. This is a positive change from Veren's previous quarterly dividend of $0.08. Veren's dividend payout ratio (DPR) is currently -412.50%.

Veren 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.