Veren Inc. (NYSE:VRN) Shares Purchased by Geode Capital Management LLC

Geode Capital Management LLC raised its stake in Veren Inc. (NYSE:VRN) by 4.3% in the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 380,386 shares of the company’s stock after acquiring an additional 15,594 shares during the quarter. Geode Capital Management LLC owned approximately 0.06% of Veren worth $2,351,000 at the end of the most recent reporting period.

Several other hedge funds have also bought and sold shares of the stock. Barclays PLC raised its holdings in Veren by 313.7% in the 3rd quarter. Barclays PLC now owns 132,245 shares of the company’s stock worth $813,000 after purchasing an additional 100,279 shares during the period. Intact Investment Management Inc. grew its holdings in Veren by 46.7% in the third quarter. Intact Investment Management Inc. now owns 5,458,686 shares of the company’s stock valued at $33,624,000 after purchasing an additional 1,737,840 shares during the period. The Manufacturers Life Insurance Company purchased a new stake in shares of Veren in the second quarter valued at approximately $28,162,000. National Bank of Canada FI lifted its position in shares of Veren by 94.7% during the 3rd quarter. National Bank of Canada FI now owns 2,217,305 shares of the company’s stock valued at $13,637,000 after buying an additional 1,078,596 shares in the last quarter. Finally, DRW Securities LLC acquired a new stake in Veren in the 3rd quarter valued at $1,414,000. Hedge funds and other institutional investors own 49.37% of the company’s stock.

Wall Street Analyst Weigh In

A number of equities analysts have weighed in on the stock. Royal Bank of Canada reduced their price objective 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. Raymond James started coverage on shares of Veren in a research report on Friday, October 18th. They set a “strong-buy” rating and a $13.00 price target for the company.

Veren Stock Up 3.0 %

NYSE VRN opened at $5.49 on Wednesday. Veren Inc. has a one year low of $4.39 and a one year high of $9.28. The company has a debt-to-equity ratio of 0.34, a quick ratio of 0.88 and a current ratio of 0.88. The business has a fifty day moving average price of $5.13 and a 200 day moving average price of $6.35. The company has a market cap of $3.37 billion, a P/E ratio of 3.92 and a beta of 2.13.

Veren Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Thursday, January 2nd. Stockholders of record on Sunday, December 15th were paid a $0.085 dividend. This is an increase from Veren’s previous quarterly dividend of $0.08. This represents a $0.34 annualized dividend and a dividend yield of 6.19%. The ex-dividend date was Friday, December 13th. Veren’s dividend payout ratio (DPR) is currently 24.29%.

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.