87,036 Shares in Veren Inc. (NYSE:VRN) Bought by Renaissance Technologies LLC

Renaissance Technologies LLC purchased a new stake in Veren Inc. (NYSE:VRN) in the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor purchased 87,036 shares of the company’s stock, valued at approximately $686,000.

A number of other hedge funds have also recently bought and sold shares of the stock. Dimensional Fund Advisors LP acquired a new position in shares of Veren during the second quarter valued at about $79,409,000. Envestnet Asset Management Inc. bought a new position in Veren during the second quarter valued at about $2,491,000. BOKF NA acquired a new position in Veren in the 2nd quarter valued at approximately $215,000. American Century Companies Inc. bought a new stake in shares of Veren in the 2nd quarter worth approximately $32,076,000. Finally, SIR Capital Management L.P. acquired a new stake in shares of Veren during the 2nd quarter worth approximately $7,260,000. 49.37% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

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

Veren Stock Performance

Shares of Veren stock opened at $6.55 on Wednesday. The firm has a market cap of $4.05 billion, a price-to-earnings ratio of -81.88 and a beta of 2.14. The company’s 50-day simple moving average is $6.81. Veren Inc. has a twelve month low of $6.03 and a twelve month high of $9.28. The company has a debt-to-equity ratio of 0.36, a quick ratio of 0.49 and a current ratio of 0.49.

Veren (NYSE:VRN) last released its quarterly earnings data on Thursday, July 25th. The company reported $0.28 earnings per share for the quarter, meeting analysts’ consensus estimates of $0.28. Veren had a positive return on equity of 13.50% and a negative net margin of 0.69%. The company had revenue of $852.57 million for the quarter, compared to the consensus estimate of $821.00 million. On average, equities analysts forecast that Veren Inc. will post 1 earnings per share for the current fiscal year.

Veren Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Tuesday, October 1st. Shareholders of record on Sunday, September 15th were given a $0.0834 dividend. This represents a $0.33 dividend on an annualized basis and a yield of 5.09%. This is a boost from Veren’s previous quarterly dividend of $0.08. The ex-dividend date was Friday, September 13th. Veren’s dividend payout ratio is -412.50%.

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.