Veren (NYSE:VRN) Reaches New 12-Month Low - Should You Sell?

Veren Inc. (NYSE:VRN - Get Free Report)'s share price reached a new 52-week low during trading on Friday . The company traded as low as $4.86 and last traded at $4.86, with a volume of 192214 shares. The stock had previously closed at $4.91.

Wall Street Analysts Forecast Growth

Several brokerages have recently weighed in on VRN. Royal Bank of Canada decreased their price objective on 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 shares of Veren in a research note on Friday, October 18th. They issued a "strong-buy" rating and a $13.00 price objective on the stock.

Veren Stock Performance

The company has a current ratio of 0.88, a quick ratio of 0.88 and a debt-to-equity ratio of 0.34. The stock has a market cap of $2.99 billion, a price-to-earnings ratio of 3.47 and a beta of 2.16. The stock's 50-day simple moving average is $5.56 and its 200-day simple moving average is $6.72.

Veren Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Thursday, January 2nd. Stockholders of record on Sunday, December 15th will be paid a dividend of $0.085 per share. This represents a $0.34 dividend on an annualized basis and a dividend yield of 7.00%. 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. Veren's dividend payout ratio (DPR) is presently 24.29%.

Institutional Inflows and Outflows

Several hedge funds have recently added to or reduced their stakes in VRN. EverSource Wealth Advisors LLC acquired a new stake in Veren in the 2nd quarter valued at $42,000. Fifth Third Bancorp bought a new stake in shares of Veren during the second quarter worth about $85,000. DORCHESTER WEALTH MANAGEMENT Co bought a new stake in shares of Veren during the third quarter worth about $79,000. Oliver Lagore Vanvalin Investment Group acquired a new stake in shares of Veren in the 2nd quarter worth about $103,000. Finally, Brighton Jones LLC bought a new position in Veren in the 2nd quarter valued at about $108,000. Institutional investors own 49.37% of the company's stock.

About Veren

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.