The Manufacturers Life Insurance Company Increases Stock Position in Veren Inc. (NYSE:VRN)

The Manufacturers Life Insurance Company grew its position in shares of Veren Inc. (NYSE:VRN - Free Report) by 11.2% during the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 3,975,885 shares of the company's stock after purchasing an additional 400,068 shares during the quarter. The Manufacturers Life Insurance Company owned approximately 0.65% of Veren worth $24,505,000 as of its most recent SEC filing.

A number of other large investors have also bought and sold shares of the stock. Pacifica Partners Inc. purchased a new position in Veren in the second quarter worth about $61,000. Dixon Mitchell Investment Counsel Inc. purchased a new position in shares of Veren during the second quarter worth approximately $36,000. SG Americas Securities LLC bought a new stake in shares of Veren in the second quarter valued at about $293,000. Perkins Coie Trust Co purchased a new stake in Veren during the second quarter worth $205,000. Finally, Dynamic Advisor Solutions LLC bought a new stake in shares of Veren in the 2nd quarter valued at about $234,000. 49.37% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

VRN has been the subject of a number of research reports. Royal Bank of Canada decreased their target price on Veren from $12.00 to $10.00 and set an "outperform" rating for the company in a report on Friday, November 1st. Raymond James began 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.

Veren Stock Up 1.0 %

NYSE:VRN traded up $0.05 during mid-day trading on Friday, hitting $5.30. The stock had a trading volume of 2,682,444 shares, compared to its average volume of 6,832,074. The company has a current ratio of 0.88, a quick ratio of 0.88 and a debt-to-equity ratio of 0.34. Veren Inc. has a twelve month low of $4.90 and a twelve month high of $9.28. The company has a market capitalization of $3.26 billion, a PE ratio of 3.79 and a beta of 2.17. The stock has a 50-day simple moving average of $5.82 and a two-hundred day simple moving average of $6.93.

Veren Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Thursday, January 2nd. Investors of record on Sunday, December 15th will be paid a dividend of $0.085 per share. This is a positive change from Veren's previous quarterly dividend of $0.08. This represents a $0.34 annualized dividend and a yield of 6.42%. The ex-dividend date of this dividend is Friday, December 13th. Veren's dividend payout ratio (DPR) is currently 24.29%.

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.