Public Employees Retirement System of Ohio Invests $1.77 Million in Veren Inc. (NYSE:VRN)

Public Employees Retirement System of Ohio bought a new position in shares of Veren Inc. (NYSE:VRN - Free Report) during the third quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund bought 286,979 shares of the company's stock, valued at approximately $1,769,000.

Several other institutional investors and hedge funds also recently bought and sold shares of VRN. EverSource Wealth Advisors LLC purchased a new position in shares of Veren during the 2nd quarter worth $42,000. Olympiad Research LP lifted its position in Veren by 36.2% in the third quarter. Olympiad Research LP now owns 29,088 shares of the company's stock valued at $179,000 after buying an additional 7,724 shares during the last quarter. Fifth Third Bancorp purchased a new position in Veren during the second quarter worth about $85,000. DORCHESTER WEALTH MANAGEMENT Co acquired a new stake in shares of Veren during the third quarter valued at about $79,000. Finally, Oliver Lagore Vanvalin Investment Group purchased a new stake in shares of Veren in the 2nd quarter valued at approximately $103,000. 49.37% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

A number of equities analysts recently weighed in on the stock. Royal Bank of Canada lowered their price objective on shares of Veren from $12.00 to $10.00 and set an "outperform" rating for the company in a research report on Friday, November 1st. Raymond James started coverage on Veren in a research report on Friday, October 18th. They set a "strong-buy" rating and a $13.00 price target for the company.

Veren Stock Down 1.1 %

Shares of VRN traded down $0.05 during mid-day trading on Thursday, hitting $4.44. 9,576,928 shares of the company's stock were exchanged, compared to its average volume of 4,928,783. The stock's 50-day moving average is $5.40 and its 200-day moving average is $6.60. 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 Inc. has a fifty-two week low of $4.43 and a fifty-two week high of $9.28. The company has a market cap of $2.73 billion, a price-to-earnings ratio of 3.17 and a beta of 2.16.

Veren Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Thursday, January 2nd. Shareholders of record on Sunday, December 15th will be issued a dividend of $0.085 per share. The ex-dividend date of this dividend is Friday, December 13th. This is a positive change from Veren's previous quarterly dividend of $0.08. This represents a $0.34 dividend on an annualized basis and a yield of 7.66%. Veren's dividend payout ratio is 24.29%.

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.