Veren (NYSE:VRN) Sees Large Volume Increase - Here's Why

Shares of Veren Inc. (NYSE:VRN - Get Free Report) saw an uptick in trading volume on Tuesday . 6,506,810 shares traded hands during trading, an increase of 30% from the previous session's volume of 4,996,943 shares.The stock last traded at $4.90 and had previously closed at $4.83.

Analysts Set New Price Targets

Several research analysts recently commented on VRN shares. Royal Bank of Canada dropped their target price on shares of 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 Veren in a research report on Friday, October 18th. They issued a "strong-buy" rating and a $13.00 price target on the stock.

Veren Trading Up 2.1 %

The company has a debt-to-equity ratio of 0.34, a current ratio of 0.88 and a quick ratio of 0.88. The company has a market capitalization of $3.03 billion, a price-to-earnings ratio of 3.52 and a beta of 2.16. The business has a fifty day moving average price of $5.34 and a 200 day moving average price of $6.54.

Veren Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Thursday, January 2nd. Shareholders of record on Sunday, December 15th will be issued a $0.085 dividend. The ex-dividend date of this dividend is Friday, December 13th. This is an increase from Veren's previous quarterly dividend of $0.08. This represents a $0.34 dividend on an annualized basis and a yield of 6.90%. Veren's dividend payout ratio is 24.29%.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently made changes to their positions in VRN. EverSource Wealth Advisors LLC acquired a new stake in shares of Veren during the 2nd quarter worth approximately $42,000. Fifth Third Bancorp bought a new position in Veren in the second quarter worth $85,000. DORCHESTER WEALTH MANAGEMENT Co acquired a new stake in Veren during the third quarter worth $79,000. Oliver Lagore Vanvalin Investment Group bought a new stake in Veren in the 2nd quarter valued at $103,000. Finally, Brighton Jones LLC bought a new stake in Veren in the 2nd quarter valued at $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.