Versor Investments LP Takes $354,000 Position in Veren Inc. (NYSE:VRN)

Versor Investments LP purchased a new position in Veren Inc. (NYSE:VRN) in the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The firm purchased 57,500 shares of the company’s stock, valued at approximately $354,000.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in the business. Easterly Investment Partners LLC lifted its position in shares of Veren by 15.0% in the 3rd quarter. Easterly Investment Partners LLC now owns 452,380 shares of the company’s stock worth $2,782,000 after purchasing an additional 59,035 shares during the period. Olympiad Research LP lifted its holdings in Veren by 36.2% in the third quarter. Olympiad Research LP now owns 29,088 shares of the company’s stock worth $179,000 after buying an additional 7,724 shares during the period. Principal Financial Group Inc. lifted its holdings in Veren by 19.3% in the third quarter. Principal Financial Group Inc. now owns 4,038,140 shares of the company’s stock worth $24,899,000 after buying an additional 653,300 shares during the period. Capital Management Corp VA boosted its position in Veren by 92.1% during the 3rd quarter. Capital Management Corp VA now owns 3,124,775 shares of the company’s stock valued at $19,217,000 after acquiring an additional 1,498,544 shares in the last quarter. Finally, Intact Investment Management Inc. grew its holdings in shares of Veren by 46.7% during the 3rd quarter. Intact Investment Management Inc. now owns 5,458,686 shares of the company’s stock worth $33,624,000 after acquiring an additional 1,737,840 shares during the period. Hedge funds and other institutional investors own 49.37% of the company’s stock.

Veren Stock Down 2.0 %

Shares of VRN opened at $5.20 on Friday. 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 company has a market cap of $3.20 billion, a PE ratio of 3.74 and a beta of 2.17. The stock has a 50 day moving average of $6.05. Veren Inc. has a 52 week low of $4.90 and a 52 week high of $9.28.

Veren Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Thursday, January 2nd. Shareholders of record on Sunday, December 15th will be issued a $0.085 dividend. This represents a $0.34 annualized dividend and a yield of 6.54%. This is an increase from Veren’s previous quarterly dividend of $0.08. The ex-dividend date of this dividend is Friday, December 13th. Veren’s payout ratio is 24.29%.

Wall Street Analysts Forecast Growth

VRN has been the subject of a number of research analyst reports. Raymond James began coverage on Veren in a research note on Friday, October 18th. They issued a “strong-buy” rating and a $13.00 target price for the company. Royal Bank of Canada lowered their price objective on Veren from $12.00 to $10.00 and set an “outperform” rating for the company in a research report on Friday, November 1st.

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.