HITE Hedge Asset Management LLC Sells 522,299 Shares of Veren Inc. (NYSE:VRN)

HITE Hedge Asset Management LLC reduced its stake in shares of Veren Inc. (NYSE:VRN - Free Report) by 4.9% during the 4th quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 10,056,998 shares of the company's stock after selling 522,299 shares during the period. Veren accounts for 3.8% of HITE Hedge Asset Management LLC's investment portfolio, making the stock its 5th biggest holding. HITE Hedge Asset Management LLC owned 1.64% of Veren worth $51,704,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds also recently bought and sold shares of the company. Ninepoint Partners LP lifted its stake in Veren by 16.6% in the fourth quarter. Ninepoint Partners LP now owns 21,100,000 shares of the company's stock valued at $108,454,000 after acquiring an additional 3,000,000 shares during the last quarter. Barclays PLC lifted its stake in shares of Veren by 313.7% in the 3rd 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 last quarter. Alberta Investment Management Corp boosted its holdings in Veren by 108.0% in the fourth quarter. Alberta Investment Management Corp now owns 689,400 shares of the company's stock worth $3,542,000 after purchasing an additional 358,000 shares in the last quarter. Principal Financial Group Inc. increased its position 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 during the last quarter. Finally, Charles Schwab Investment Management Inc. raised its holdings in Veren by 6.7% during the fourth quarter. Charles Schwab Investment Management Inc. now owns 1,985,175 shares of the company's stock valued at $10,201,000 after buying an additional 124,863 shares in the last quarter. 49.37% of the stock is owned by institutional investors and hedge funds.

Veren Stock Down 1.1 %

Shares of VRN traded down $0.07 during trading hours on Wednesday, hitting $6.02. 16,724,838 shares of the company were exchanged, compared to its average volume of 10,310,323. The company has a debt-to-equity ratio of 0.34, a quick ratio of 0.88 and a current ratio of 0.88. The company has a market cap of $3.68 billion, a PE ratio of 4.30 and a beta of 1.45. The firm's 50 day moving average is $5.79 and its 200-day moving average is $5.52. Veren Inc. has a 52 week low of $4.40 and a 52 week high of $9.02.

Veren Cuts Dividend

The business also recently declared a quarterly dividend, which was paid on Tuesday, April 1st. Shareholders of record on Saturday, March 15th were issued a dividend of $0.0797 per share. The ex-dividend date was Friday, March 14th. This represents a $0.32 annualized dividend and a yield of 5.29%. Veren's dividend payout ratio (DPR) is presently 96.88%.

Veren 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.