5,350 Shares in Veren Inc. (NYSE:VRN) Purchased by EverSource Wealth Advisors LLC

EverSource Wealth Advisors LLC bought a new stake in shares of Veren Inc. (NYSE:VRN) in the 2nd quarter, according to its most recent 13F filing with the SEC. The firm bought 5,350 shares of the company’s stock, valued at approximately $42,000.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in VRN. CIBC Asset Management Inc acquired a new stake in Veren during the 2nd quarter valued at $155,853,000. Dimensional Fund Advisors LP acquired a new stake in shares of Veren during the second quarter valued at $79,409,000. American Century Companies Inc. purchased a new stake in Veren during the 2nd quarter worth about $32,076,000. TD Asset Management Inc acquired a new position in Veren in the 2nd quarter valued at about $30,556,000. Finally, Intact Investment Management Inc. purchased a new position in Veren in the 2nd quarter valued at about $29,344,000. Institutional investors and hedge funds own 49.37% of the company’s stock.

Veren Stock Performance

VRN stock opened at $6.15 on Friday. Veren Inc. has a one year low of $6.03 and a one year high of $9.28. The stock has a market cap of $3.80 billion, a PE ratio of -76.88 and a beta of 2.16. The stock has a 50 day moving average price of $6.95. The company has a debt-to-equity ratio of 0.36, a current ratio of 0.49 and a quick ratio of 0.49.

Veren (NYSE:VRN) last announced its quarterly earnings data on Thursday, July 25th. The company reported $0.28 EPS for the quarter, meeting analysts’ consensus estimates of $0.28. Veren had a positive return on equity of 13.50% and a negative net margin of 0.69%. The business had revenue of $852.57 million during the quarter, compared to the consensus estimate of $821.00 million. Research analysts forecast that Veren Inc. will post 1 earnings per share for the current fiscal year.

Veren Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, October 1st. Stockholders of record on Sunday, September 15th will be issued a dividend of $0.0834 per share. This is a positive change from Veren’s previous quarterly dividend of $0.08. This represents a $0.33 annualized dividend and a dividend yield of 5.42%. The ex-dividend date of this dividend is Friday, September 13th. Veren’s dividend payout ratio is presently -412.50%.

Wall Street Analyst Weigh In

Separately, Scotiabank lowered their price target on shares of Veren from $16.00 to $15.00 and set a “sector outperform” rating for the company in a report on Friday, July 12th.

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.