Magnetar Financial LLC bought a new stake in Veren Inc. (NYSE:VRN - Free Report) in the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund bought 195,637 shares of the company's stock, valued at approximately $1,540,000.
Other large investors have also recently made changes to their positions in the company. Dixon Mitchell Investment Counsel Inc. purchased a new stake in Veren in the second quarter valued at approximately $36,000. EverSource Wealth Advisors LLC acquired a new position in shares of Veren in the 2nd quarter valued at $42,000. Pacifica Partners Inc. purchased a new stake in Veren in the 2nd quarter valued at $61,000. Fifth Third Bancorp acquired a new stake in Veren during the 2nd quarter worth $85,000. Finally, Brighton Jones LLC purchased a new position in Veren during the 2nd quarter worth $108,000. 49.37% of the stock is owned by institutional investors and hedge funds.
Analyst Upgrades and Downgrades
Separately, Scotiabank reduced their target price on shares of 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 Stock Analysis on Veren
Veren Stock Performance
Veren stock traded up $0.11 during mid-day trading on Tuesday, reaching $6.50. 4,304,065 shares of the company were exchanged, compared to its average volume of 4,313,141. The stock has a 50-day moving average price of $7.07. Veren Inc. has a twelve month low of $6.03 and a twelve month high of $9.28. The stock has a market capitalization of $4.02 billion, a price-to-earnings ratio of -81.38 and a beta of 2.16. 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 issued its quarterly earnings results on Thursday, July 25th. The company reported $0.28 earnings per share for the quarter, hitting the consensus estimate of $0.28. Veren had a positive return on equity of 13.50% and a negative net margin of 0.69%. The firm had revenue of $852.57 million during the quarter, compared to the consensus estimate of $821.00 million. As a group, equities research analysts anticipate that Veren Inc. will post 1.06 EPS for the current year.
Veren Increases Dividend
The company also recently announced a quarterly dividend, which will be paid on Tuesday, October 1st. Stockholders of record on Sunday, September 15th will be paid a $0.0834 dividend. This represents a $0.33 annualized dividend and a dividend yield of 5.13%. The ex-dividend date of this dividend is Friday, September 13th. This is a boost from Veren's previous quarterly dividend of $0.08. Veren's dividend payout ratio (DPR) is -412.50%.
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.
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