Renaissance Technologies LLC bought a new position in Veren Inc. (NYSE:VRN - Free Report) during the second quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund bought 87,036 shares of the company's stock, valued at approximately $686,000.
A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Dixon Mitchell Investment Counsel Inc. purchased a new position in shares of Veren in the 2nd quarter worth $36,000. Pacifica Partners Inc. purchased a new position in Veren in the second quarter worth about $61,000. Fifth Third Bancorp bought a new stake in Veren during the second quarter worth approximately $85,000. Perkins Coie Trust Co purchased a new stake in Veren during the second quarter valued at approximately $205,000. Finally, BOKF NA bought a new stake in shares of Veren in the 2nd quarter valued at approximately $215,000. 49.37% of the stock is owned by institutional investors.
Veren Price Performance
Shares of Veren stock traded down $0.08 during trading on Wednesday, hitting $6.47. The stock had a trading volume of 4,821,775 shares, compared to its average volume of 4,393,192. Veren Inc. has a 12 month low of $6.03 and a 12 month high of $9.28. The company has a debt-to-equity ratio of 0.36, a quick ratio of 0.49 and a current ratio of 0.49. The company has a fifty day simple moving average of $6.80. The firm has a market capitalization of $4.00 billion, a PE ratio of -80.88 and a beta of 2.14.
Veren (NYSE:VRN - Get Free Report) last posted its quarterly earnings data on Thursday, July 25th. The company reported $0.28 earnings per share for the quarter, hitting analysts' consensus estimates of $0.28. Veren had a negative net margin of 0.69% and a positive return on equity of 13.50%. The company had revenue of $852.57 million for the quarter, compared to analyst estimates of $821.00 million. Analysts expect that Veren Inc. will post 1 earnings per share for the current fiscal year.
Veren Increases Dividend
The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, October 1st. Investors of record on Sunday, September 15th were issued a dividend of $0.0834 per share. The ex-dividend date of this dividend was Friday, September 13th. This represents a $0.33 dividend on an annualized basis and a yield of 5.16%. This is a boost from Veren's previous quarterly dividend of $0.08. Veren's payout ratio is presently -412.50%.
Analysts Set New Price Targets
Separately, Scotiabank cut their target price on Veren from $16.00 to $15.00 and set a "sector outperform" rating on the stock in a research report on Friday, July 12th.
View Our Latest Stock Report on VRN
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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