Brighton Jones LLC Makes New $108,000 Investment in Veren Inc. (NYSE:VRN)

Brighton Jones LLC bought a new stake in Veren Inc. (NYSE:VRN) during the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission. The fund bought 13,713 shares of the company’s stock, valued at approximately $108,000.

Several other hedge funds have also made changes to their positions in VRN. Lorne Steinberg Wealth Management Inc. acquired a new position in Veren in the second quarter valued at approximately $624,000. Easterly Investment Partners LLC acquired a new position in shares of Veren in the 2nd quarter valued at $3,096,000. CIBC Asset Management Inc purchased a new position in shares of Veren during the 2nd quarter worth $155,853,000. American Century Companies Inc. acquired a new stake in shares of Veren during the 2nd quarter worth about $32,076,000. Finally, National Bank of Canada FI purchased a new stake in Veren in the 2nd quarter valued at about $8,896,000. Hedge funds and other institutional investors own 49.37% of the company’s stock.

Analysts Set New Price Targets

Separately, Scotiabank lowered their target price on shares of Veren from $16.00 to $15.00 and set a “sector outperform” rating for the company in a research note on Friday, July 12th.

Veren Stock Down 0.9 %

Shares of NYSE VRN opened at $6.39 on Tuesday. The company has a current ratio of 0.49, a quick ratio of 0.49 and a debt-to-equity ratio of 0.36. The firm has a 50 day moving average price of $7.07. Veren Inc. has a 52-week low of $6.03 and a 52-week high of $9.28. The stock has a market capitalization of $3.95 billion, a price-to-earnings ratio of -79.81 and a beta of 2.16.

Veren (NYSE:VRN) last posted its earnings results on Thursday, July 25th. The company reported $0.28 earnings per share (EPS) for the quarter, hitting the consensus estimate of $0.28. The firm had revenue of $852.57 million for the quarter, compared to analyst estimates of $821.00 million. Veren had a positive return on equity of 13.50% and a negative net margin of 0.69%. Analysts anticipate that Veren Inc. will post 1.06 EPS for the current fiscal 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 $0.0834 dividend. This is a positive change from Veren’s previous quarterly dividend of $0.08. The ex-dividend date of this dividend is Friday, September 13th. This represents a $0.33 annualized dividend and a dividend yield of 5.22%. Veren’s dividend payout ratio (DPR) is presently -412.50%.

Veren 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.