Bokf Na Takes $215,000 Position in Veren Inc. (NYSE:VRN)

Bokf Na acquired a new position in shares of Veren Inc. (NYSE:VRN) in the second quarter, according to its most recent 13F filing with the SEC. The institutional investor acquired 27,298 shares of the company’s stock, valued at approximately $215,000.

Other institutional investors also recently added to or reduced their stakes in the company. Dixon Mitchell Investment Counsel Inc. bought a new position in Veren in the second quarter worth about $36,000. Pacifica Partners Inc. bought a new position in shares of Veren during the 2nd quarter worth approximately $61,000. Fifth Third Bancorp acquired a new stake in Veren in the second quarter valued at approximately $85,000. Perkins Coie Trust Co purchased a new position in Veren in the second quarter worth $205,000. Finally, Dynamic Advisor Solutions LLC acquired a new position in shares of Veren during the second quarter worth $234,000. Institutional investors own 49.37% of the company’s stock.

Veren Stock Performance

Shares of VRN stock opened at $6.44 on Wednesday. Veren Inc. has a fifty-two week low of $6.03 and a fifty-two week high of $9.28. The company has a debt-to-equity ratio of 0.36, a current ratio of 0.49 and a quick ratio of 0.49. The stock has a market capitalization of $3.98 billion, a price-to-earnings ratio of -80.50 and a beta of 2.16. The business’s 50-day simple moving average is $7.20.

Veren (NYSE:VRN) last released its earnings results on Thursday, July 25th. The company reported $0.28 earnings per share for the quarter, hitting the consensus estimate of $0.28. Veren had a negative net margin of 0.69% and a positive return on equity of 13.50%. The company had revenue of $852.57 million for the quarter, compared to the consensus estimate of $821.00 million. As a group, equities analysts forecast that Veren Inc. will post 1.06 earnings per share for the current year.

Veren Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Tuesday, October 1st. Investors of record on Sunday, September 15th will be given a $0.0834 dividend. This represents a $0.33 annualized dividend and a dividend yield of 5.18%. This is an increase from Veren’s previous quarterly dividend of $0.08. The ex-dividend date of this dividend is Friday, September 13th. Veren’s dividend payout ratio is presently -412.50%.

Wall Street Analysts Forecast Growth

Separately, Scotiabank lowered their price objective 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.

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.