Quantbot Technologies LP lifted its stake in shares of Veren Inc. (NYSE:VRN - Free Report) by 266.4% during the third quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 277,007 shares of the company's stock after purchasing an additional 201,413 shares during the quarter. Quantbot Technologies LP's holdings in Veren were worth $1,704,000 at the end of the most recent reporting period.
Other institutional investors have also bought and sold shares of the company. The Manufacturers Life Insurance Company raised its holdings in Veren by 11.2% during the third quarter. The Manufacturers Life Insurance Company now owns 3,975,885 shares of the company's stock worth $24,505,000 after purchasing an additional 400,068 shares in the last quarter. DRW Securities LLC acquired a new position in shares of Veren during the 3rd quarter valued at $1,414,000. Dynamic Technology Lab Private Ltd bought a new stake in shares of Veren in the 3rd quarter worth $1,065,000. Charles Schwab Investment Management Inc. raised its stake in shares of Veren by 2.8% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 1,860,312 shares of the company's stock worth $11,470,000 after buying an additional 50,997 shares in the last quarter. Finally, Foundry Partners LLC acquired a new stake in shares of Veren in the third quarter valued at $6,734,000. Institutional investors and hedge funds own 49.37% of the company's stock.
Wall Street Analysts Forecast Growth
A number of research firms recently issued reports on VRN. Raymond James started coverage on Veren in a report on Friday, October 18th. They set a "strong-buy" rating and a $13.00 target price 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 on the stock in a research note on Friday, November 1st.
View Our Latest Report on VRN
Veren Price Performance
Shares of NYSE:VRN traded up $0.05 on Friday, reaching $5.30. 2,682,444 shares of the company traded hands, compared to its average volume of 4,724,940. The stock has a market capitalization of $3.26 billion, a PE ratio of 3.79 and a beta of 2.17. 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 company's 50 day moving average is $5.82 and its 200-day moving average is $6.94. Veren Inc. has a fifty-two week low of $4.90 and a fifty-two week high of $9.28.
Veren Increases Dividend
The business also recently announced a quarterly dividend, which will be paid on Thursday, January 2nd. Stockholders of record on Sunday, December 15th will be issued a dividend of $0.085 per share. This represents a $0.34 annualized dividend and a dividend yield of 6.42%. This is an increase from Veren's previous quarterly dividend of $0.08. The ex-dividend date of this dividend is Friday, December 13th. Veren's dividend payout ratio is currently 24.29%.
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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