Bank of America Corp DE Reduces Holdings in Veren Inc. (NYSE:VRN)

Bank of America Corp DE trimmed its holdings in Veren Inc. (NYSE:VRN - Free Report) by 9.5% in the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 6,721,765 shares of the company's stock after selling 708,919 shares during the quarter. Bank of America Corp DE owned about 1.10% of Veren worth $34,550,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors also recently modified their holdings of the business. EverSource Wealth Advisors LLC increased its stake in Veren by 80.6% during the 4th quarter. EverSource Wealth Advisors LLC now owns 5,951 shares of the company's stock valued at $31,000 after purchasing an additional 2,655 shares in the last quarter. Nebula Research & Development LLC bought a new stake in Veren during the 4th quarter valued at about $56,000. Arkadios Wealth Advisors bought a new stake in Veren during the 4th quarter valued at about $59,000. Orion Portfolio Solutions LLC bought a new stake in Veren during the 4th quarter valued at about $71,000. Finally, Farringdon Capital Ltd. bought a new stake in Veren during the 4th quarter valued at about $74,000. 49.37% of the stock is currently owned by institutional investors.

Veren Price Performance

NYSE:VRN remained flat at $6.01 on Monday. The company has a market cap of $3.68 billion, a P/E ratio of 4.29 and a beta of 0.93. The company has a quick ratio of 0.88, a current ratio of 0.88 and a debt-to-equity ratio of 0.34. Veren Inc. has a 1 year low of $4.40 and a 1 year high of $9.02. The firm's fifty day moving average is $6.09 and its 200-day moving average is $5.49.

Veren Cuts Dividend

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, April 1st. Shareholders of record on Saturday, March 15th were paid a dividend of $0.0797 per share. The ex-dividend date was Friday, March 14th. This represents a $0.32 dividend on an annualized basis and a yield of 5.30%. Veren's dividend payout ratio is currently 96.88%.

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.