Quadrature Capital Ltd Has $3.93 Million Stock Position in Veren Inc. (NYSE:VRN)

Quadrature Capital Ltd cut its position in shares of Veren Inc. (NYSE:VRN - Free Report) by 58.9% in the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 639,300 shares of the company's stock after selling 916,500 shares during the period. Quadrature Capital Ltd owned 0.10% of Veren worth $3,932,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. EverSource Wealth Advisors LLC purchased a new stake in shares of Veren during the 2nd quarter worth about $42,000. Fifth Third Bancorp purchased a new stake in shares of Veren during the 2nd quarter worth about $85,000. DORCHESTER WEALTH MANAGEMENT Co purchased a new stake in shares of Veren during the 3rd quarter worth about $79,000. Oliver Lagore Vanvalin Investment Group purchased a new stake in shares of Veren during the 2nd quarter worth about $103,000. Finally, Brighton Jones LLC purchased a new stake in shares of Veren during the 2nd quarter worth about $108,000. 49.37% of the stock is owned by hedge funds and other institutional investors.

Veren Stock Down 3.5 %

Shares of NYSE VRN traded down $0.18 during mid-day trading on Friday, reaching $4.99. 8,849,829 shares of the company traded hands, compared to its average volume of 4,758,502. 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 market cap of $3.07 billion, a PE ratio of 3.56 and a beta of 2.16. The company's fifty day moving average is $5.71 and its two-hundred day moving average is $6.84. Veren Inc. has a fifty-two week low of $4.90 and a fifty-two week high of $9.28.

Veren Increases Dividend

The business 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 of this dividend is Friday, December 13th. This represents a $0.34 dividend on an annualized basis and a dividend yield of 6.81%. Veren's dividend payout ratio is currently 24.29%.

Analyst Upgrades and Downgrades

VRN has been the subject of a number of recent research reports. Royal Bank of Canada cut their price target on Veren from $12.00 to $10.00 and set an "outperform" rating for the company in a research note on Friday, November 1st. Raymond James assumed coverage on Veren in a report on Friday, October 18th. They set a "strong-buy" rating and a $13.00 price objective on the stock.

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.