Ninepoint Partners LP Buys 3,000,000 Shares of Veren Inc. (NYSE:VRN)

Ninepoint Partners LP boosted its stake in Veren Inc. (NYSE:VRN - Free Report) by 16.6% during the fourth quarter, according to the company in its most recent filing with the SEC. The fund owned 21,100,000 shares of the company's stock after buying an additional 3,000,000 shares during the period. Veren makes up 15.9% of Ninepoint Partners LP's portfolio, making the stock its largest holding. Ninepoint Partners LP owned 3.45% of Veren worth $108,454,000 as of its most recent filing with the SEC.

Several other large investors have also recently bought and sold shares of the stock. EverSource Wealth Advisors LLC boosted its stake in Veren by 80.6% in the 4th quarter. EverSource Wealth Advisors LLC now owns 5,951 shares of the company's stock valued at $31,000 after purchasing an additional 2,655 shares during the period. Arkadios Wealth Advisors bought a new stake in shares of Veren during the 4th quarter valued at $59,000. Truist Financial Corp acquired a new stake in shares of Veren during the 4th quarter worth $76,000. Canoe Financial LP bought a new position in shares of Veren in the fourth quarter worth $103,000. Finally, Wilmington Savings Fund Society FSB acquired a new position in Veren in the third quarter valued at about $108,000. 49.37% of the stock is owned by institutional investors.

Veren Price Performance

Veren stock traded up $0.07 during trading hours on Thursday, reaching $6.65. 26,052,554 shares of the stock were exchanged, compared to its average volume of 8,691,218. The stock has a 50 day moving average of $5.36 and a two-hundred day moving average of $5.57. The company has a market cap of $4.07 billion, a P/E ratio of 4.75 and a beta of 2.08. 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 $4.40 and a twelve month high of $9.02.

Veren Cuts Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, April 1st. Shareholders of record on Saturday, March 15th will be given a dividend of $0.0797 per share. The ex-dividend date is Friday, March 14th. This represents a $0.32 annualized dividend and a yield of 4.79%. Veren's dividend payout ratio is currently 100.00%.

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.