Canoe Financial LP Purchases New Shares in Veren Inc. (NYSE:VRN)

Canoe Financial LP purchased a new position in Veren Inc. (NYSE:VRN) during the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor purchased 20,000 shares of the company’s stock, valued at approximately $103,000.

A number of other institutional investors have also added to or reduced their stakes in VRN. EverSource Wealth Advisors LLC purchased a new stake in shares of Veren in the 2nd quarter worth about $42,000. DORCHESTER WEALTH MANAGEMENT Co purchased a new stake in Veren in the third quarter worth about $79,000. Oliver Lagore Vanvalin Investment Group bought a new position in shares of Veren during the second quarter valued at approximately $103,000. Blue Trust Inc. purchased a new position in shares of Veren during the third quarter valued at approximately $104,000. Finally, Brighton Jones LLC bought a new stake in shares of Veren in the 2nd quarter worth approximately $108,000. Institutional investors own 49.37% of the company’s stock.

Analysts Set New Price Targets

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

Veren Trading Down 0.6 %

Shares of NYSE VRN opened at $5.46 on Friday. The firm’s 50 day moving average price is $5.14 and its 200-day moving average price is $6.23. Veren Inc. has a 52-week low of $4.39 and a 52-week high of $9.28. The company has a debt-to-equity ratio of 0.34, a quick ratio of 0.88 and a current ratio of 0.88. The company has a market cap of $3.35 billion, a PE ratio of 3.90 and a beta of 2.13.

Veren Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, January 2nd. Investors of record on Sunday, December 15th were given a $0.085 dividend. The ex-dividend date was Friday, December 13th. This is a boost from Veren’s previous quarterly dividend of $0.08. This represents a $0.34 annualized dividend and a yield of 6.23%. Veren’s dividend payout ratio is 23.57%.

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.