Cibc World Market Inc. Sells 842,147 Shares of Veren Inc. (NYSE:VRN)

Cibc World Market Inc. reduced its position in shares of Veren Inc. (NYSE:VRN - Free Report) by 14.9% in the fourth quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 4,814,787 shares of the company's stock after selling 842,147 shares during the quarter. Cibc World Market Inc. owned approximately 0.79% of Veren worth $24,744,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors have also added to or reduced their stakes in the company. Olympiad Research LP lifted its stake in Veren by 36.2% in the third quarter. Olympiad Research LP now owns 29,088 shares of the company's stock worth $179,000 after acquiring an additional 7,724 shares during the period. Blue Trust Inc. lifted its position in shares of Veren by 56.3% in the 4th quarter. Blue Trust Inc. now owns 26,416 shares of the company's stock worth $136,000 after purchasing an additional 9,520 shares during the period. Arkadios Wealth Advisors bought a new stake in shares of Veren during the 4th quarter valued at about $59,000. DORCHESTER WEALTH MANAGEMENT Co purchased a new position in shares of Veren during the third quarter valued at about $79,000. Finally, Geode Capital Management LLC raised its stake in Veren by 4.3% in the third quarter. Geode Capital Management LLC now owns 380,386 shares of the company's stock worth $2,351,000 after buying an additional 15,594 shares in the last quarter. Hedge funds and other institutional investors own 49.37% of the company's stock.

Veren Stock Up 5.0 %

NYSE:VRN traded up $0.25 during mid-day trading on Tuesday, hitting $5.17. 13,662,455 shares of the company's stock were exchanged, compared to its average volume of 16,621,559. The company has a market cap of $3.16 billion, a PE ratio of 3.69 and a beta of 2.10. The company has a debt-to-equity ratio of 0.34, a current ratio of 0.88 and a quick ratio of 0.88. Veren Inc. has a one year low of $4.39 and a one year high of $9.28. The business has a fifty day moving average price of $5.15 and a 200 day moving average price of $6.01.

Wall Street Analysts Forecast Growth

VRN has been the topic of a number of research analyst reports. 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. Royal Bank of Canada reduced their price target on Veren from $12.00 to $10.00 and set an "outperform" rating on the stock in a research note on Friday, November 1st.

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.