The Manufacturers Life Insurance Company Has $6.17 Million Stock Position in Veren Inc. (NYSE:VRN)

The Manufacturers Life Insurance Company reduced its stake in shares of Veren Inc. (NYSE:VRN - Free Report) by 69.9% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 1,198,683 shares of the company's stock after selling 2,777,202 shares during the quarter. The Manufacturers Life Insurance Company owned 0.20% of Veren worth $6,171,000 at the end of the most recent quarter.

Other hedge funds have also recently bought and sold shares of the company. Geode Capital Management LLC lifted its stake in shares of Veren by 4.3% in the third quarter. Geode Capital Management LLC now owns 380,386 shares of the company's stock valued at $2,351,000 after buying an additional 15,594 shares during the period. Barclays PLC increased its position in shares of Veren by 313.7% during the third quarter. Barclays PLC now owns 132,245 shares of the company's stock valued at $813,000 after purchasing an additional 100,279 shares during the period. Wilmington Savings Fund Society FSB acquired a new position in shares of Veren in the third quarter valued at $108,000. Tidal Investments LLC lifted its position in Veren by 90.6% in the third quarter. Tidal Investments LLC now owns 51,170 shares of the company's stock worth $315,000 after purchasing an additional 24,323 shares during the period. Finally, Principal Financial Group Inc. boosted its stake in Veren by 19.3% during the third quarter. Principal Financial Group Inc. now owns 4,038,140 shares of the company's stock worth $24,899,000 after buying an additional 653,300 shares in the last quarter. 49.37% of the stock is owned by institutional investors.

Veren Trading Up 0.4 %

Shares of VRN stock opened at $5.85 on Thursday. The firm has a fifty day moving average of $5.97 and a 200-day moving average of $5.50. The stock has a market cap of $3.58 billion, a price-to-earnings ratio of 4.18 and a beta of 0.93. Veren Inc. has a 52-week low of $4.40 and a 52-week high of $9.02. The company has a debt-to-equity ratio of 0.34, a quick ratio of 0.88 and a current ratio of 0.88.

Veren Cuts Dividend

The firm also recently declared 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. This represents a $0.32 dividend on an annualized basis and a yield of 5.45%. The ex-dividend date of this dividend was Friday, March 14th. Veren's dividend payout ratio is 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.

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