Creative Planning Has $327,000 Stock Holdings in Veren Inc. (NYSE:VRN)

Creative Planning cut its position in shares of Veren Inc. (NYSE:VRN) by 8.2% during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 53,173 shares of the company’s stock after selling 4,754 shares during the period. Creative Planning’s holdings in Veren were worth $327,000 at the end of the most recent quarter.

Other institutional investors also recently modified their holdings of the company. The Manufacturers Life Insurance Company acquired a new position in shares of Veren during the 2nd quarter worth about $28,162,000. Lorne Steinberg Wealth Management Inc. acquired a new position in shares of Veren during the 2nd quarter worth about $624,000. Ninepoint Partners LP acquired a new position in shares of Veren during the 2nd quarter worth about $125,920,000. Merewether Investment Management LP acquired a new position in shares of Veren during the 2nd quarter worth about $36,681,000. Finally, Renaissance Technologies LLC acquired a new position in shares of Veren during the 2nd quarter worth about $686,000. 49.37% of the stock is currently owned by institutional investors and hedge funds.

Veren Stock Down 2.0 %

NYSE VRN opened at $5.28 on Friday. 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 company has a market cap of $3.25 billion, a P/E ratio of 3.77 and a beta of 2.17. Veren Inc. has a 12-month low of $4.90 and a 12-month high of $9.28. The firm has a 50-day simple moving average of $6.18.

Veren Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, January 2nd. Shareholders of record on Sunday, December 15th will be issued a $0.085 dividend. The ex-dividend date of this dividend is Friday, December 13th. This represents a $0.34 dividend on an annualized basis and a yield of 6.44%. This is an increase from Veren’s previous quarterly dividend of $0.08. Veren’s payout ratio is currently 24.29%.

Analyst Ratings Changes

VRN has been the topic of a number of research reports. Royal Bank of Canada decreased their price target on shares of Veren from $12.00 to $10.00 and set an “outperform” rating on the stock in a research note on Friday, November 1st. Scotiabank decreased their price target on shares of Veren from $16.00 to $15.00 and set a “sector outperform” rating on the stock in a research note on Friday, July 12th. Finally, Raymond James initiated coverage on shares of Veren in a research note on Friday, October 18th. They issued a “strong-buy” rating and a $13.00 price target on the 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.