Veren Target of Unusually High Options Trading (NYSE:VRN)

Veren Inc. (NYSE:VRN - Get Free Report) saw some unusual options trading activity on Monday. Traders acquired 5,760 call options on the stock. This represents an increase of 693% compared to the average volume of 726 call options.

Veren Trading Up 3.8 %

Shares of NYSE VRN traded up $0.23 during midday trading on Wednesday, reaching $6.09. 19,806,273 shares of the stock were exchanged, compared to its average volume of 20,136,867. Veren has a twelve month low of $4.39 and a twelve month high of $9.28. The stock has a market capitalization of $3.72 billion, a P/E ratio of 4.35 and a beta of 2.08. The company has a 50 day simple moving average of $5.25 and a 200 day simple moving average of $5.60. The company has a debt-to-equity ratio of 0.34, a quick ratio of 0.88 and a current ratio of 0.88.

Veren Cuts Dividend

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, April 1st. Shareholders of record on Saturday, March 15th will be given a $0.0797 dividend. The ex-dividend date is Friday, March 14th. This represents a $0.32 dividend on an annualized basis and a yield of 5.24%. Veren's dividend payout ratio is currently 100.00%.

Hedge Funds Weigh In On Veren

Several large investors have recently modified their holdings of VRN. Mackenzie Financial Corp raised its holdings in Veren by 88.2% in the 4th quarter. Mackenzie Financial Corp now owns 322,604 shares of the company's stock valued at $1,657,000 after buying an additional 151,167 shares during the period. Public Employees Retirement System of Ohio raised its stake in shares of Veren by 34.5% in the 4th quarter. Public Employees Retirement System of Ohio now owns 385,899 shares of the company's stock valued at $1,983,000 after acquiring an additional 98,920 shares during the period. Vise Technologies Inc. lifted its holdings in shares of Veren by 33.1% in the 4th quarter. Vise Technologies Inc. now owns 13,722 shares of the company's stock worth $71,000 after acquiring an additional 3,412 shares during the last quarter. Squarepoint Ops LLC purchased a new position in shares of Veren during the 4th quarter worth approximately $295,000. Finally, State of Wyoming increased its holdings in Veren by 44.7% in the 4th quarter. State of Wyoming now owns 10,736 shares of the company's stock valued at $55,000 after purchasing an additional 3,319 shares during the last quarter. Institutional investors and hedge funds own 49.37% of the company's stock.

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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.