Polar Asset Management Partners Inc. bought a new position in shares of Veren Inc. (NYSE:VRN - Free Report) in the third quarter, according to the company in its most recent filing with the SEC. The institutional investor bought 125,000 shares of the company's stock, valued at approximately $770,000.
A number of other large investors have also recently added to or reduced their stakes in the company. Intact Investment Management Inc. boosted its stake in shares of Veren by 46.7% during the 3rd quarter. Intact Investment Management Inc. now owns 5,458,686 shares of the company's stock worth $33,624,000 after buying an additional 1,737,840 shares during the last quarter. The Manufacturers Life Insurance Company acquired a new position in shares of Veren during the 2nd quarter worth about $28,162,000. Lorne Steinberg Wealth Management Inc. acquired a new position in shares of Veren during the 2nd quarter worth about $624,000. DRW Securities LLC acquired a new position in shares of Veren during the 3rd quarter worth about $1,414,000. Finally, Ninepoint Partners LP acquired a new position in shares of Veren during the 2nd quarter worth about $125,920,000. Institutional investors own 49.37% of the company's stock.
Veren Stock Performance
NYSE:VRN traded down $0.18 during mid-day trading on Friday, hitting $4.99. The stock had a trading volume of 11,978,756 shares, compared to its average volume of 5,615,684. Veren Inc. has a twelve month low of $4.90 and a twelve month high of $9.28. The stock has a market cap of $3.07 billion, a price-to-earnings ratio of 3.56 and a beta of 2.16. The company's 50 day simple moving average is $5.71 and its 200 day simple moving average is $6.84. The company has a debt-to-equity ratio of 0.34, a quick ratio of 0.88 and a current ratio of 0.88.
Veren Increases Dividend
The business also recently disclosed a quarterly dividend, which will be paid on Thursday, January 2nd. Shareholders of record on Sunday, December 15th will be given a dividend of $0.085 per share. The ex-dividend date 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 6.81%. Veren's dividend payout ratio (DPR) is 24.29%.
Analyst Upgrades and Downgrades
Several equities research analysts recently issued reports on VRN shares. Raymond James started coverage on shares of Veren in a research note on Friday, October 18th. They issued a "strong-buy" rating and a $13.00 target price for the company. Royal Bank of Canada cut their target price on shares of Veren from $12.00 to $10.00 and set an "outperform" rating for the company in a research note on Friday, November 1st.
View Our Latest Stock Analysis on Veren
Veren Profile
(
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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