Veren Inc. (NYSE:VRN) Holdings Lessened by HITE Hedge Asset Management LLC

HITE Hedge Asset Management LLC lowered its position in shares of Veren Inc. (NYSE:VRN - Free Report) by 4.9% in the fourth quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 10,056,998 shares of the company's stock after selling 522,299 shares during the quarter. Veren accounts for 3.8% of HITE Hedge Asset Management LLC's investment portfolio, making the stock its 5th largest holding. HITE Hedge Asset Management LLC owned 1.64% of Veren worth $51,704,000 at the end of the most recent reporting period.

Several other large investors have also recently added to or reduced their stakes in the company. Vanguard Group Inc. increased its holdings in Veren by 2.1% in the fourth quarter. Vanguard Group Inc. now owns 25,082,135 shares of the company's stock valued at $128,947,000 after buying an additional 507,176 shares in the last quarter. Ninepoint Partners LP boosted its position in Veren by 16.6% during the fourth quarter. Ninepoint Partners LP now owns 21,100,000 shares of the company's stock worth $108,454,000 after acquiring an additional 3,000,000 shares during the last quarter. Invesco Ltd. grew its position in shares of Veren by 1.2% in the fourth quarter. Invesco Ltd. now owns 6,099,882 shares of the company's stock valued at $31,353,000 after purchasing an additional 69,969 shares during the period. Principal Financial Group Inc. lifted its position in Veren by 3.9% during the fourth quarter. Principal Financial Group Inc. now owns 4,196,340 shares of the company's stock worth $21,562,000 after buying an additional 158,200 shares during the period. Finally, Bornite Capital Management LP acquired a new stake in shares of Veren in the fourth quarter worth approximately $10,280,000. 49.37% of the stock is owned by hedge funds and other institutional investors.

Veren Trading Down 2.0 %

Shares of NYSE VRN traded down $0.12 during trading on Monday, hitting $6.01. 20,779,393 shares of the company traded hands, compared to its average volume of 10,228,361. The company has a 50-day moving average price of $5.76 and a 200-day moving average price of $5.52. Veren Inc. has a 1 year low of $4.40 and a 1 year high of $9.02. The company has a quick ratio of 0.88, a current ratio of 0.88 and a debt-to-equity ratio of 0.34. The firm has a market capitalization of $3.68 billion, a P/E ratio of 4.29 and a beta of 1.45.

Veren Cuts Dividend

The firm also recently declared a quarterly dividend, which was paid on Tuesday, April 1st. Shareholders of record on Saturday, March 15th were given a dividend of $0.0797 per share. The ex-dividend date was Friday, March 14th. This represents a $0.32 dividend on an annualized basis and a yield of 5.30%. Veren's dividend payout ratio (DPR) is 96.88%.

Veren 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.