Mackenzie Financial Corp Takes Position in Veren Inc. (NYSE:VRN)

Mackenzie Financial Corp bought a new stake in Veren Inc. (NYSE:VRN - Free Report) during the second quarter, according to its most recent 13F filing with the SEC. The institutional investor bought 334,415 shares of the company's stock, valued at approximately $2,638,000. Mackenzie Financial Corp owned approximately 0.05% of Veren at the end of the most recent quarter.

Several other hedge funds also recently modified their holdings of VRN. Dixon Mitchell Investment Counsel Inc. purchased a new position in shares of Veren during the 2nd quarter worth about $36,000. EverSource Wealth Advisors LLC acquired a new position in Veren during the second quarter worth approximately $42,000. Pacifica Partners Inc. purchased a new position in Veren during the second quarter worth approximately $61,000. Fifth Third Bancorp purchased a new stake in shares of Veren during the 2nd quarter valued at $85,000. Finally, Brighton Jones LLC acquired a new stake in shares of Veren during the 2nd quarter worth $108,000. 49.37% of the stock is owned by institutional investors and hedge funds.

Veren Trading Up 2.7 %

NYSE:VRN traded up $0.17 during trading hours on Thursday, hitting $6.58. The stock had a trading volume of 5,365,545 shares, compared to its average volume of 4,365,415. The company has a market capitalization of $4.07 billion, a P/E ratio of -81.63 and a beta of 2.16. The firm has a 50 day simple moving average of $6.86. The company has a debt-to-equity ratio of 0.36, a quick ratio of 0.49 and a current ratio of 0.49. Veren Inc. has a 1-year low of $6.03 and a 1-year high of $9.28.

Veren (NYSE:VRN - Get Free Report) last issued its quarterly earnings results on Thursday, July 25th. The company reported $0.28 EPS for the quarter, meeting analysts' consensus estimates of $0.28. The firm had revenue of $852.57 million during the quarter, compared to the consensus estimate of $821.00 million. Veren had a positive return on equity of 13.50% and a negative net margin of 0.69%. Research analysts expect that Veren Inc. will post 1 EPS for the current fiscal year.

Veren Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Tuesday, October 1st. Shareholders of record on Sunday, September 15th were issued a dividend of $0.0834 per share. This represents a $0.33 dividend on an annualized basis and a yield of 5.07%. The ex-dividend date was Friday, September 13th. This is an increase from Veren's previous quarterly dividend of $0.08. Veren's dividend payout ratio (DPR) is currently -412.50%.

Wall Street Analyst Weigh In

Separately, Scotiabank decreased their price objective on shares of Veren from $16.00 to $15.00 and set a "sector outperform" rating for the company in a research note on Friday, July 12th.

About Veren

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.