XTX Topco Ltd Boosts Stake in Veren Inc. (NYSE:VRN)

XTX Topco Ltd increased its stake in shares of Veren Inc. (NYSE:VRN - Free Report) by 1,212.6% during the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 206,133 shares of the company's stock after buying an additional 190,429 shares during the quarter. XTX Topco Ltd's holdings in Veren were worth $1,268,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. CIBC Asset Management Inc purchased a new position in shares of Veren during the second quarter worth $155,853,000. Ninepoint Partners LP acquired a new position in shares of Veren in the 2nd quarter valued at about $125,920,000. Bank of Montreal Can purchased a new stake in shares of Veren in the second quarter worth about $105,665,000. HITE Hedge Asset Management LLC acquired a new stake in Veren during the third quarter worth about $65,155,000. Finally, Dimensional Fund Advisors LP purchased a new position in Veren during the second quarter valued at approximately $79,409,000. Hedge funds and other institutional investors own 49.37% of the company's stock.

Veren Price Performance

Shares of VRN traded down $0.04 during mid-day trading on Tuesday, hitting $4.95. 9,354,349 shares of the company were exchanged, compared to its average volume of 4,779,865. 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 Inc. has a 1-year low of $4.90 and a 1-year high of $9.28. The stock has a market cap of $3.04 billion, a price-to-earnings ratio of 3.53 and a beta of 2.16. The company has a 50 day moving average of $5.66 and a 200-day moving average of $6.76.

Veren Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Thursday, January 2nd. Stockholders of record on Sunday, December 15th will be given a $0.085 dividend. This represents a $0.34 annualized dividend and a dividend yield of 6.88%. The ex-dividend date of this dividend is Friday, December 13th. This is an increase from Veren's previous quarterly dividend of $0.08. Veren's dividend payout ratio (DPR) is 24.29%.

Analyst Upgrades and Downgrades

Several equities research analysts have commented on the company. Royal Bank of Canada lowered their price objective on Veren from $12.00 to $10.00 and set an "outperform" rating on the stock in a research report on Friday, November 1st. Raymond James assumed coverage on Veren in a report on Friday, October 18th. They issued a "strong-buy" rating and a $13.00 price target for the company.

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.