195,637 Shares in Veren Inc. (NYSE:VRN) Bought by Magnetar Financial LLC

Magnetar Financial LLC acquired a new position in Veren Inc. (NYSE:VRN) in the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor acquired 195,637 shares of the company’s stock, valued at approximately $1,540,000.

A number of other hedge funds and other institutional investors also recently bought and sold shares of VRN. Pacifica Partners Inc. acquired a new position in shares of Veren during the 2nd quarter worth $61,000. Dixon Mitchell Investment Counsel Inc. acquired a new position in Veren during the second quarter worth about $36,000. SG Americas Securities LLC purchased a new position in Veren in the second quarter valued at about $293,000. Perkins Coie Trust Co purchased a new position in Veren in the second quarter valued at about $205,000. Finally, Dynamic Advisor Solutions LLC acquired a new stake in shares of Veren during the 2nd quarter valued at approximately $234,000. Institutional investors and hedge funds own 49.37% of the company’s stock.

Veren Stock Down 0.9 %

Shares of VRN stock opened at $6.39 on Tuesday. The stock has a market capitalization of $3.95 billion, a PE ratio of -79.81 and a beta of 2.16. The company has a current ratio of 0.49, a quick ratio of 0.49 and a debt-to-equity ratio of 0.36. Veren Inc. has a fifty-two week low of $6.03 and a fifty-two week high of $9.28. The firm has a fifty day moving average price of $7.07.

Veren (NYSE:VRN) last posted its earnings results on Thursday, July 25th. The company reported $0.28 earnings per share for the quarter, meeting the consensus estimate of $0.28. The firm had revenue of $852.57 million during the quarter, compared to the consensus estimate of $821.00 million. Veren had a negative net margin of 0.69% and a positive return on equity of 13.50%. On average, sell-side analysts anticipate that Veren Inc. will post 1.06 earnings per share for the current year.

Veren Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, October 1st. Stockholders of record on Sunday, September 15th will be paid a dividend of $0.0834 per share. This represents a $0.33 dividend on an annualized basis and a dividend yield of 5.22%. This is a boost from Veren’s previous quarterly dividend of $0.08. The ex-dividend date is Friday, September 13th. Veren’s dividend payout ratio (DPR) is -412.50%.

Wall Street Analyst Weigh In

Separately, Scotiabank lowered their price target on Veren from $16.00 to $15.00 and set a “sector outperform” rating on the stock in a report on Friday, July 12th.

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.