Versor Investments LP Makes New Investment in Veren Inc. (NYSE:VRN)

Versor Investments LP purchased a new stake in shares of Veren Inc. (NYSE:VRN) during the third quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor purchased 57,500 shares of the company’s stock, valued at approximately $354,000.

Several other institutional investors and hedge funds also recently made changes to their positions in the company. CIBC Asset Management Inc bought a new position in Veren during the 2nd quarter valued at about $155,853,000. Ninepoint Partners LP bought a new position in Veren during the second quarter valued at approximately $125,920,000. Bank of Montreal Can purchased a new stake in Veren in the second quarter worth approximately $105,665,000. Dimensional Fund Advisors LP purchased a new stake in Veren in the second quarter worth approximately $79,409,000. Finally, Millennium Management LLC purchased a new stake in Veren during the 2nd quarter valued at $74,306,000. Institutional investors own 49.37% of the company’s stock.

Analyst Upgrades and Downgrades

A number of research firms have recently issued reports on VRN. Royal Bank of Canada dropped their price target on Veren from $12.00 to $10.00 and set an “outperform” rating on the stock in a research note on Friday, November 1st. Raymond James initiated coverage on Veren in a research note on Friday, October 18th. They set a “strong-buy” rating and a $13.00 price target for the company.

Veren Stock Performance

Shares of Veren stock opened at $5.20 on Friday. The company has a market cap of $3.20 billion, a PE ratio of 3.74 and a beta of 2.17. 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 business has a fifty day moving average of $6.05. Veren Inc. has a one year low of $4.90 and a one year 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 paid a $0.085 dividend. The ex-dividend date of this dividend is Friday, December 13th. This represents a $0.34 annualized dividend and a dividend yield of 6.54%. This is an increase from Veren’s previous quarterly dividend of $0.08. Veren’s dividend payout ratio (DPR) is 24.29%.

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.