Veren Sees Unusually High Options Volume (NYSE:VRN)

Veren Inc. (NYSE:VRN) was the recipient of some unusual options trading activity on Monday. Traders acquired 5,760 call options on the stock. This is an increase of approximately 693% compared to the average daily volume of 726 call options.

Hedge Funds Weigh In On Veren

Institutional investors have recently made changes to their positions in the company. EverSource Wealth Advisors LLC grew its holdings in Veren by 80.6% during the 4th quarter. EverSource Wealth Advisors LLC now owns 5,951 shares of the company’s stock worth $31,000 after acquiring an additional 2,655 shares in the last quarter. State of Wyoming lifted its position in shares of Veren by 44.7% in the 4th quarter. State of Wyoming now owns 10,736 shares of the company’s stock worth $55,000 after purchasing an additional 3,319 shares during the period. Vise Technologies Inc. boosted its stake in shares of Veren by 33.1% during the fourth quarter. Vise Technologies Inc. now owns 13,722 shares of the company’s stock valued at $71,000 after purchasing an additional 3,412 shares in the last quarter. Alliancebernstein L.P. increased its holdings in Veren by 4.8% during the fourth quarter. Alliancebernstein L.P. now owns 101,460 shares of the company’s stock valued at $522,000 after buying an additional 4,640 shares during the period. Finally, Virtus ETF Advisers LLC raised its stake in Veren by 28.5% in the fourth quarter. Virtus ETF Advisers LLC now owns 27,462 shares of the company’s stock worth $141,000 after buying an additional 6,088 shares in the last quarter. Hedge funds and other institutional investors own 49.37% of the company’s stock.

Veren Stock Up 15.6 %

Shares of NYSE:VRN opened at $5.68 on Tuesday. The business’s 50 day moving average is $5.23 and its 200 day moving average is $5.61. The stock has a market cap of $3.47 billion, a P/E ratio of 4.05 and a beta of 2.08. Veren has a 52-week low of $4.40 and a 52-week high of $9.02. The company has a quick ratio of 0.88, a current ratio of 0.88 and a debt-to-equity ratio of 0.34.

Veren Cuts Dividend

The company also recently declared a quarterly dividend, which will be paid on Tuesday, April 1st. Stockholders of record on Saturday, March 15th will be given a dividend of $0.0797 per share. This represents a $0.32 dividend on an annualized basis and a dividend yield of 5.61%. The ex-dividend date of this dividend is Friday, March 14th. Veren’s payout ratio is 100.00%.

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.