Arkadios Wealth Advisors Acquires New Holdings in Veren Inc. (NYSE:VRN)

Arkadios Wealth Advisors purchased a new position in shares of Veren Inc. (NYSE:VRN) during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund purchased 11,513 shares of the company’s stock, valued at approximately $59,000.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. EverSource Wealth Advisors LLC bought a new stake in shares of Veren during the 2nd quarter worth about $42,000. DORCHESTER WEALTH MANAGEMENT Co bought a new stake in shares of Veren in the 3rd quarter worth approximately $79,000. Oliver Lagore Vanvalin Investment Group bought a new stake in shares of Veren in the 2nd quarter worth approximately $103,000. Canoe Financial LP bought a new stake in shares of Veren in the 4th quarter worth approximately $103,000. Finally, Blue Trust Inc. bought a new stake in shares of Veren in the 3rd quarter worth approximately $104,000. 49.37% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

A number of analysts recently commented on the stock. Raymond James assumed coverage on shares of Veren in a report on Friday, October 18th. They issued a “strong-buy” rating and a $13.00 target price on the stock. Royal Bank of Canada dropped their target price on shares of Veren from $12.00 to $10.00 and set an “outperform” rating on the stock in a report on Friday, November 1st.

Veren Stock Performance

Veren stock opened at $5.28 on Friday. The firm’s 50 day simple moving average is $5.17 and its 200-day simple moving average is $6.14. The company has a market cap of $3.23 billion, a P/E ratio of 3.77 and a beta of 2.13. The company has a debt-to-equity ratio of 0.34, a current ratio of 0.88 and a quick ratio of 0.88. Veren Inc. has a fifty-two week low of $4.39 and a fifty-two week high of $9.28.

Veren (NYSE:VRN) last released its earnings results on Thursday, October 31st. The company reported $0.21 earnings per share for the quarter, missing the consensus estimate of $0.25 by ($0.04). The firm had revenue of $813.63 million during the quarter, compared to analysts’ expectations of $738.93 million. Veren had a return on equity of 12.23% and a net margin of 26.93%. During the same period last year, the business earned $0.31 earnings per share. As a group, equities research analysts predict that Veren Inc. will post 0.96 EPS for the current year.

Veren Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Thursday, January 2nd. Investors of record on Sunday, December 15th were given a dividend of $0.085 per share. The ex-dividend date was Friday, December 13th. This is an increase from Veren’s previous quarterly dividend of $0.08. This represents a $0.34 dividend on an annualized basis and a yield of 6.44%. Veren’s payout ratio is presently 23.57%.

Veren Company 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.