Veren Inc. (NYSE:VRN) Stock Holdings Lifted by Principal Financial Group Inc.

Principal Financial Group Inc. increased its position in Veren Inc. (NYSE:VRN - Free Report) by 3.9% in the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 4,196,340 shares of the company's stock after acquiring an additional 158,200 shares during the period. Principal Financial Group Inc. owned about 0.69% of Veren worth $21,562,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds also recently bought and sold shares of the stock. Arkadios Wealth Advisors bought a new stake in shares of Veren in the 4th quarter worth about $59,000. Canoe Financial LP purchased a new stake in Veren in the 4th quarter worth approximately $103,000. Blue Trust Inc. purchased a new position in Veren during the third quarter valued at $104,000. Wilmington Savings Fund Society FSB acquired a new position in Veren during the third quarter worth about $108,000. Finally, Savant Capital LLC raised its position in Veren by 67.0% in the fourth quarter. Savant Capital LLC now owns 21,399 shares of the company's stock valued at $110,000 after purchasing an additional 8,586 shares during the period. 49.37% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

Separately, Royal Bank of Canada cut their price target on Veren from $12.00 to $10.00 and set an "outperform" rating on the stock in a research report on Friday, November 1st.

Veren Stock Up 8.8 %

Veren stock traded up $0.43 during trading hours on Thursday, hitting $5.25. The company had a trading volume of 28,797,530 shares, compared to its average volume of 17,088,395. Veren Inc. has a fifty-two week low of $4.39 and a fifty-two week high of $9.28. The firm's fifty day moving average is $5.19 and its 200-day moving average is $5.74. The company has a debt-to-equity ratio of 0.34, a current ratio of 0.88 and a quick ratio of 0.88. The firm has a market capitalization of $3.21 billion, a P/E ratio of 3.75 and a beta of 2.10.

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Veren (NYSE:VRN - Get Free Report) last announced its quarterly earnings results on Thursday, February 27th. The company reported $0.29 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.21 by $0.08. Veren had a return on equity of 12.23% and a net margin of 26.93%. On average, research analysts forecast that Veren Inc. will post 0.94 earnings per share for the current year.

Veren Company 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.