Veren (NYSE:VRN) Sees Large Volume Increase – Here’s What Happened

Veren Inc. (NYSE:VRN) shares saw an uptick in trading volume on Thursday . 12,748,695 shares changed hands during trading, an increase of 69% from the previous session’s volume of 7,529,229 shares.The stock last traded at $4.93 and had previously closed at $4.95.

Veren Price Performance

The company has a market cap of $3.01 billion, a PE ratio of 3.51 and a beta of 2.10. The stock has a fifty day moving average price of $5.22 and a 200-day moving average price of $5.67. The company has a debt-to-equity ratio of 0.34, a current ratio of 0.88 and a quick ratio of 0.88.

Veren Cuts Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, April 1st. Investors of record on Saturday, March 15th will be paid a $0.0797 dividend. This represents a $0.32 annualized dividend and a yield of 6.48%. The ex-dividend date is Friday, March 14th. Veren’s dividend payout ratio is currently 100.00%.

Hedge Funds Weigh In On Veren

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

Veren Company 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.