Arkadios Wealth Advisors acquired a new stake in shares of Veren Inc. (NYSE:VRN – Free Report) during the fourth quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund acquired 11,513 shares of the company’s stock, valued at approximately $59,000.
A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in VRN. Ninepoint Partners LP bought a new stake in Veren in the second quarter worth approximately $125,920,000. HITE Hedge Asset Management LLC bought a new stake in Veren in the third quarter worth approximately $65,155,000. Dimensional Fund Advisors LP bought a new stake in Veren in the second quarter worth approximately $79,409,000. Millennium Management LLC bought a new stake in Veren in the second quarter worth approximately $74,306,000. Finally, Intact Investment Management Inc. grew its position in Veren by 46.7% in the third 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 in the last quarter. 49.37% of the stock is owned by hedge funds and other institutional investors.
Analyst Upgrades and Downgrades
Several analysts have commented on the stock. Raymond James assumed coverage on shares of Veren in a research report on Friday, October 18th. They issued 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 report on Friday, November 1st.
Veren Price Performance
Shares of Veren stock opened at $5.28 on Friday. The firm has a fifty day simple moving average of $5.17 and a 200-day simple moving average of $6.14. The company has a current ratio of 0.88, a quick ratio of 0.88 and a debt-to-equity ratio of 0.34. Veren Inc. has a 1-year low of $4.39 and a 1-year high of $9.28. The stock has a market capitalization of $3.23 billion, a price-to-earnings ratio of 3.77 and a beta of 2.13.
Veren (NYSE:VRN – Get Free Report) last issued its quarterly earnings data on Thursday, October 31st. The company reported $0.21 earnings per share for the quarter, missing analysts’ consensus estimates of $0.25 by ($0.04). Veren had a return on equity of 12.23% and a net margin of 26.93%. The firm had revenue of $813.63 million during the quarter, compared to analyst estimates of $738.93 million. During the same quarter in the previous year, the firm posted $0.31 earnings per share. On average, sell-side analysts expect that Veren Inc. will post 0.96 earnings per share for the current year.
Veren Increases Dividend
The business also recently announced a quarterly dividend, which was paid on Thursday, January 2nd. Investors of record on Sunday, December 15th were paid a dividend of $0.085 per share. This is a boost from Veren’s previous quarterly dividend of $0.08. This represents a $0.34 annualized dividend and a yield of 6.44%. The ex-dividend date of this dividend was Friday, December 13th. Veren’s dividend payout ratio is presently 23.57%.
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.
Further Reading
- Five stocks we like better than Veren
- What is a buyback in stocks? A comprehensive guide for investors
- Why Energy Transfer Stock Could Soar to New Highs in 2025
- What is the Dogs of the Dow Strategy? Overview and Examples
- 3 Buy-and-Hold Stocks for Long-Term Growth
- How to Calculate Return on Investment (ROI)
- Despite Short-Term Risks Freeport McMoran Worth a Look
Want to see what other hedge funds are holding VRN? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Veren Inc. (NYSE:VRN – Free Report).
Receive News & Ratings for Veren Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Veren and related companies with MarketBeat.com's FREE daily email newsletter.