Bank of America Corp DE lowered its stake in Veren Inc. (NYSE:VRN - Free Report) by 9.5% in the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 6,721,765 shares of the company's stock after selling 708,919 shares during the quarter. Bank of America Corp DE owned approximately 1.10% of Veren worth $34,550,000 as of its most recent SEC filing.
A number of other institutional investors and hedge funds have also recently made changes to their positions in the stock. Ninepoint Partners LP grew its position in Veren by 16.6% during the 4th quarter. Ninepoint Partners LP now owns 21,100,000 shares of the company's stock worth $108,454,000 after acquiring an additional 3,000,000 shares during the last quarter. Bornite Capital Management LP acquired a new position in shares of Veren in the fourth quarter valued at approximately $10,280,000. Canada Pension Plan Investment Board acquired a new position in shares of Veren in the fourth quarter valued at approximately $10,269,000. Trexquant Investment LP raised its holdings in Veren by 329.9% in the 4th quarter. Trexquant Investment LP now owns 1,489,872 shares of the company's stock valued at $7,658,000 after buying an additional 1,143,293 shares during the last quarter. Finally, South Dakota Investment Council raised its holdings in Veren by 194.2% in the 4th quarter. South Dakota Investment Council now owns 1,731,831 shares of the company's stock valued at $8,902,000 after buying an additional 1,143,159 shares during the last quarter. Institutional investors own 49.37% of the company's stock.
Veren Price Performance
NYSE:VRN remained flat at $6.01 during mid-day trading on Thursday. Veren Inc. has a one year low of $4.40 and a one year high of $8.71. The company has a quick ratio of 0.88, a current ratio of 0.88 and a debt-to-equity ratio of 0.34. The stock has a market capitalization of $3.68 billion, a P/E ratio of 4.29 and a beta of 0.93. The company's 50 day simple moving average is $6.09 and its two-hundred day simple moving average is $5.51.
Veren Cuts Dividend
The firm also recently declared a quarterly dividend, which was paid on Tuesday, April 1st. Stockholders of record on Saturday, March 15th were issued a dividend of $0.0797 per share. The ex-dividend date of this dividend was Friday, March 14th. This represents a $0.32 dividend on an annualized basis and a dividend yield of 5.30%. Veren's dividend payout ratio (DPR) is presently 96.88%.
Veren Company Profile
(
Free Report)
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.
Featured Articles
Before you consider Veren, you'll want to hear this.
MarketBeat keeps track of Wall Street's top-rated and best performing research analysts and the stocks they recommend to their clients on a daily basis. MarketBeat has identified the five stocks that top analysts are quietly whispering to their clients to buy now before the broader market catches on... and Veren wasn't on the list.
While Veren currently has a Buy rating among analysts, top-rated analysts believe these five stocks are better buys.
View The Five Stocks Here
With the proliferation of data centers and electric vehicles, the electric grid will only get more strained. Download this report to learn how energy stocks can play a role in your portfolio as the global demand for energy continues to grow.
Get This Free Report
Like this article? Share it with a colleague.
Link copied to clipboard.
