Creative Planning Makes New $456,000 Investment in Veren Inc. (NYSE:VRN)

Creative Planning acquired a new position in Veren Inc. (NYSE:VRN) in the second quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor acquired 57,927 shares of the company’s stock, valued at approximately $456,000.

Several other institutional investors also recently bought and sold shares of VRN. Pacifica Partners Inc. bought a new position in shares of Veren in the 2nd quarter worth approximately $61,000. Dixon Mitchell Investment Counsel Inc. bought a new stake in shares of Veren in the 2nd quarter worth $36,000. SG Americas Securities LLC bought a new stake in shares of Veren in the second quarter worth $293,000. Perkins Coie Trust Co bought a new stake in shares of Veren in the second quarter worth $205,000. Finally, Dynamic Advisor Solutions LLC bought a new stake in Veren during the second quarter valued at about $234,000. 49.37% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

Separately, Scotiabank dropped their price objective on Veren from $16.00 to $15.00 and set a “sector outperform” rating for the company in a research note on Friday, July 12th.

Veren Price Performance

Shares of VRN stock opened at $6.13 on Wednesday. The company has a debt-to-equity ratio of 0.36, a quick ratio of 0.49 and a current ratio of 0.49. The company’s 50 day moving average is $6.72. Veren Inc. has a 1 year low of $6.01 and a 1 year high of $9.28. The stock has a market capitalization of $3.79 billion, a P/E ratio of -76.56 and a beta of 2.14.

Veren (NYSE:VRN) last announced its earnings results on Thursday, July 25th. The company reported $0.28 earnings per share (EPS) for the quarter, meeting the consensus estimate 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 for the quarter, compared to analysts’ expectations of $821.00 million. Equities research analysts expect that Veren Inc. will post 0.99 EPS for the current year.

Veren Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, October 1st. Shareholders of record on Sunday, September 15th were paid a dividend of $0.0834 per share. The ex-dividend date of this dividend was Friday, September 13th. This represents a $0.33 dividend on an annualized basis and a dividend yield of 5.45%. This is a positive change from Veren’s previous quarterly dividend of $0.08. Veren’s dividend payout ratio (DPR) is presently -412.50%.

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.