Encompass Capital Advisors LLC Has $41.69 Million Stake in Veren Inc. (NYSE:VRN)

Encompass Capital Advisors LLC decreased its stake in shares of Veren Inc. (NYSE:VRN - Free Report) by 0.8% during the fourth quarter, according to the company in its most recent filing with the SEC. The fund owned 8,114,862 shares of the company's stock after selling 63,091 shares during the period. Veren accounts for about 1.6% of Encompass Capital Advisors LLC's holdings, making the stock its 24th largest position. Encompass Capital Advisors LLC owned about 1.33% of Veren worth $41,694,000 as of its most recent filing with the SEC.

Other hedge funds have also made changes to their positions in the company. EverSource Wealth Advisors LLC lifted its position in shares of Veren by 80.6% during the 4th quarter. EverSource Wealth Advisors LLC now owns 5,951 shares of the company's stock worth $31,000 after purchasing an additional 2,655 shares during the last quarter. Nebula Research & Development LLC acquired a new position in shares of Veren during the 4th quarter worth about $56,000. Arkadios Wealth Advisors acquired a new position in shares of Veren during the 4th quarter worth about $59,000. Orion Portfolio Solutions LLC acquired a new position in Veren in the 4th quarter valued at approximately $71,000. Finally, Farringdon Capital Ltd. acquired a new position in Veren in the 4th quarter valued at approximately $74,000. Institutional investors and hedge funds own 49.37% of the company's stock.

Veren Stock Performance

Shares of VRN stock remained flat at $6.01 during mid-day trading on Wednesday. The stock's fifty day moving average is $6.06 and its 200-day moving average is $5.49. The company has a debt-to-equity ratio of 0.34, a current ratio of 0.88 and a quick ratio of 0.88. Veren Inc. has a 52 week low of $4.40 and a 52 week high of $9.02. The company has a market cap of $3.68 billion, a P/E ratio of 4.29 and a beta of 0.93.

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 given a $0.0797 dividend. 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 is currently 96.88%.

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.