Barclays PLC Increases Position in Veren Inc. (NYSE:VRN)

Barclays PLC grew its position in shares of Veren Inc. (NYSE:VRN - Free Report) by 313.7% during the third quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 132,245 shares of the company's stock after buying an additional 100,279 shares during the period. Barclays PLC's holdings in Veren were worth $813,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds also recently made changes to their positions in the company. Intact Investment Management Inc. raised its holdings in Veren by 46.7% during the 3rd quarter. Intact Investment Management Inc. now owns 5,458,686 shares of the company's stock valued at $33,624,000 after acquiring an additional 1,737,840 shares during the period. The Manufacturers Life Insurance Company bought a new stake in shares of Veren during the 2nd quarter valued at $28,162,000. National Bank of Canada FI raised its stake in shares of Veren by 94.7% during the 3rd quarter. National Bank of Canada FI now owns 2,217,305 shares of the company's stock valued at $13,637,000 after purchasing an additional 1,078,596 shares during the period. DRW Securities LLC purchased a new stake in Veren during the 3rd quarter worth about $1,414,000. Finally, Ninepoint Partners LP bought a new position in Veren in the 2nd quarter worth about $125,920,000. Institutional investors own 49.37% of the company's stock.

Wall Street Analysts Forecast Growth

Several brokerages have recently weighed in on VRN. Raymond James began coverage on Veren in a research report on Friday, October 18th. They set a "strong-buy" rating and a $13.00 price target on the stock. Royal Bank of Canada decreased their target price on shares of Veren from $12.00 to $10.00 and set an "outperform" rating on the stock in a report on Friday, November 1st.

Veren Price Performance

Veren stock traded up $0.14 during midday trading on Wednesday, hitting $5.14. 11,285,479 shares of the company's stock were exchanged, compared to its average volume of 5,111,942. The company has a market cap of $3.16 billion, a P/E ratio of 3.67 and a beta of 2.16. The company has a debt-to-equity ratio of 0.34, a quick ratio of 0.88 and a current ratio of 0.88. The stock has a 50-day moving average price of $5.19 and a two-hundred day moving average price of $6.41. Veren Inc. has a 52-week low of $4.39 and a 52-week high of $9.28.

Veren Increases Dividend

The firm also recently disclosed 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 is a positive change from Veren's previous quarterly dividend of $0.08. The ex-dividend date is Friday, December 13th. This represents a $0.34 annualized dividend and a dividend yield of 6.61%. Veren's payout ratio is presently 24.29%.

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.