Veren Inc. (NYSE:VRN) Short Interest Down 19.9% in December

Veren Inc. (NYSE:VRN) saw a large drop in short interest during the month of December. As of December 31st, there was short interest totalling 13,560,000 shares, a drop of 19.9% from the December 15th total of 16,930,000 shares. Based on an average daily volume of 8,240,000 shares, the short-interest ratio is presently 1.6 days. Currently, 2.3% of the shares of the company are sold short.

Veren Stock Up 0.1 %

Shares of NYSE VRN traded up $0.01 on Friday, reaching $5.50. 185,591 shares of the company’s stock traded hands, compared to its average volume of 14,021,278. The company has a quick ratio of 0.88, a current ratio of 0.88 and a debt-to-equity ratio of 0.34. The business’s 50 day simple moving average is $5.14 and its two-hundred day simple moving average is $6.24. Veren has a 12 month low of $4.39 and a 12 month high of $9.28. The company has a market cap of $3.38 billion, a price-to-earnings ratio of 3.92 and a beta of 2.13.

Veren Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Thursday, January 2nd. Investors of record on Sunday, December 15th were given a dividend of $0.085 per share. This represents a $0.34 dividend on an annualized basis and a yield of 6.19%. The ex-dividend date of this dividend was Friday, December 13th. This is a boost from Veren’s previous quarterly dividend of $0.08. Veren’s dividend payout ratio is 23.57%.

Wall Street Analyst Weigh In

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

Institutional Investors Weigh In On Veren

Several hedge funds and other institutional investors have recently made changes to their positions in the business. Ninepoint Partners LP purchased a new position in shares of Veren in the second quarter valued at about $125,920,000. Bank of Montreal Can purchased a new position in Veren in the 2nd quarter worth approximately $105,665,000. HITE Hedge Asset Management LLC bought a new position in Veren in the 3rd quarter worth approximately $65,155,000. Dimensional Fund Advisors LP bought a new position in Veren in the 2nd quarter worth approximately $79,409,000. Finally, Millennium Management LLC bought a new stake in shares of Veren during the second quarter valued at approximately $74,306,000. Hedge funds and other 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.