HighTower Advisors LLC Purchases 64,707 Shares of Veren Inc. (NYSE:VRN)

HighTower Advisors LLC lifted its position in shares of Veren Inc. (NYSE:VRN) by 139.4% during the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 111,112 shares of the company’s stock after purchasing an additional 64,707 shares during the period. HighTower Advisors LLC’s holdings in Veren were worth $685,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other large investors also recently made changes to their positions in VRN. SG Americas Securities LLC bought a new position in shares of Veren during the second quarter worth approximately $293,000. Fifth Third Bancorp acquired a new position in Veren in the 2nd quarter valued at $85,000. Easterly Investment Partners LLC bought a new stake in shares of Veren during the 2nd quarter valued at $3,096,000. Bank of New York Mellon Corp acquired a new stake in shares of Veren during the 2nd quarter worth $1,331,000. Finally, Zurcher Kantonalbank Zurich Cantonalbank bought a new position in shares of Veren in the second quarter worth $937,000. Institutional investors own 49.37% of the company’s stock.

Analyst Ratings Changes

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

Veren Trading Down 1.1 %

Shares of VRN opened at $4.44 on Friday. The company has a debt-to-equity ratio of 0.34, a quick ratio of 0.88 and a current ratio of 0.88. Veren Inc. has a 52-week low of $4.43 and a 52-week high of $9.28. The firm has a market cap of $2.73 billion, a price-to-earnings ratio of 3.17 and a beta of 2.16. The business’s fifty day moving average is $5.40 and its 200-day moving average is $6.60.

Veren Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Thursday, January 2nd. Shareholders of record on Sunday, December 15th will be given a $0.085 dividend. This represents a $0.34 dividend on an annualized basis and a yield of 7.66%. The ex-dividend date of this dividend is Friday, December 13th. This is a boost from Veren’s previous quarterly dividend of $0.08. Veren’s payout ratio is currently 24.29%.

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.