National Bank of Canada FI Has $13.64 Million Position in Veren Inc. (NYSE:VRN)

National Bank of Canada FI boosted its position in shares of Veren Inc. (NYSE:VRN - Free Report) by 94.7% in the 3rd quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 2,217,305 shares of the company's stock after buying an additional 1,078,596 shares during the quarter. National Bank of Canada FI owned 0.36% of Veren worth $13,637,000 at the end of the most recent quarter.

Other hedge funds have also recently bought and sold shares of the company. Wexford Capital LP acquired a new position in Veren during the third quarter worth $9,322,000. Polar Asset Management Partners Inc. bought a new stake in shares of Veren during the 3rd quarter worth $770,000. Invenomic Capital Management LP raised its holdings in Veren by 75.6% in the 3rd quarter. Invenomic Capital Management LP now owns 1,539,359 shares of the company's stock worth $9,467,000 after acquiring an additional 662,628 shares during the period. HITE Hedge Asset Management LLC acquired a new position in Veren during the 3rd quarter worth $65,155,000. Finally, HighTower Advisors LLC boosted its holdings in Veren by 139.4% during the third quarter. HighTower Advisors LLC now owns 111,112 shares of the company's stock valued at $685,000 after acquiring an additional 64,707 shares during the period. 49.37% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Several research firms have recently issued reports on VRN. Royal Bank of Canada dropped their price objective 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. Raymond James began coverage on Veren in a research note on Friday, October 18th. They issued a "strong-buy" rating and a $13.00 target price on the stock.

Veren Stock Performance

Shares of NYSE VRN traded up $0.07 during midday trading on Wednesday, hitting $5.02. 8,924,890 shares of the company's stock were exchanged, compared to its average volume of 4,797,227. Veren Inc. has a 12 month low of $4.90 and a 12 month high of $9.28. The firm has a market capitalization of $3.09 billion, a PE ratio of 3.59 and a beta of 2.16. The company's 50 day moving average price is $5.63 and its 200 day moving average price is $6.75. The company has a quick ratio of 0.88, a current ratio of 0.88 and a debt-to-equity ratio of 0.34.

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 $0.085 dividend. The ex-dividend date of this dividend is Friday, December 13th. This represents a $0.34 dividend on an annualized basis and a dividend yield of 6.77%. This is a boost from Veren's previous quarterly dividend of $0.08. Veren's dividend payout ratio is 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.