Veren Inc. (NYSE:VRN) Holdings Trimmed by Swiss National Bank

Swiss National Bank trimmed its position in shares of Veren Inc. (NYSE:VRN) by 1.2% during the 3rd quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 1,155,900 shares of the company’s stock after selling 13,800 shares during the period. Swiss National Bank owned 0.19% of Veren worth $7,131,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in VRN. Dixon Mitchell Investment Counsel Inc. purchased a new position in Veren during the 2nd quarter worth approximately $36,000. EverSource Wealth Advisors LLC purchased a new position in Veren during the 2nd quarter worth approximately $42,000. Pacifica Partners Inc. acquired a new stake in shares of Veren during the 2nd quarter valued at $61,000. DORCHESTER WEALTH MANAGEMENT Co acquired a new stake in shares of Veren during the 3rd quarter valued at $79,000. Finally, Fifth Third Bancorp acquired a new stake in shares of Veren during the 2nd quarter valued at $85,000. 49.37% of the stock is currently owned by hedge funds and other institutional investors.

Veren Trading Down 1.7 %

VRN stock opened at $5.34 on Tuesday. The company has a debt-to-equity ratio of 0.34, a quick ratio of 0.88 and a current ratio of 0.88. Veren Inc. has a 1 year low of $4.90 and a 1 year high of $9.28. The firm has a fifty day simple moving average of $5.92. The firm has a market cap of $3.29 billion, a price-to-earnings ratio of 3.81 and a beta of 2.17.

Veren Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, January 2nd. Investors of record on Sunday, December 15th will be paid a $0.085 dividend. This represents a $0.34 annualized dividend and a dividend yield of 6.37%. The ex-dividend date of this dividend is Friday, December 13th. This is a positive change from Veren’s previous quarterly dividend of $0.08. Veren’s payout ratio is presently 24.29%.

Analysts Set New Price Targets

A number of equities research analysts have issued reports on VRN shares. Raymond James started coverage on shares of Veren in a research note on Friday, October 18th. They set a “strong-buy” rating and a $13.00 target price for the company. Royal Bank of Canada decreased their target price on shares of Veren from $12.00 to $10.00 and set an “outperform” rating for the company in a research note on Friday, November 1st.

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.