Veren (NYSE:VRN) Shares Gap Down - Should You Sell?

Shares of Veren Inc. (NYSE:VRN - Get Free Report) gapped down before the market opened on Wednesday . The stock had previously closed at $5.16, but opened at $4.93. Veren shares last traded at $5.12, with a volume of 3,128,301 shares traded.

Veren Price Performance

The company has a current ratio of 0.88, a quick ratio of 0.88 and a debt-to-equity ratio of 0.34. The company has a 50 day simple moving average of $5.68 and a 200 day simple moving average of $5.53. The stock has a market cap of $3.54 billion, a P/E ratio of 4.14 and a beta of 1.45.

Veren Cuts Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, April 1st. Stockholders of record on Saturday, March 15th were given a $0.0797 dividend. This represents a $0.32 dividend on an annualized basis and a dividend yield of 5.50%. The ex-dividend date was Friday, March 14th. Veren's dividend payout ratio is presently 100.00%.

Institutional Inflows and Outflows

A number of hedge funds have recently added to or reduced their stakes in VRN. HighTower Advisors LLC lifted its position in Veren by 139.4% during the 3rd quarter. HighTower Advisors LLC now owns 111,112 shares of the company's stock worth $685,000 after buying an additional 64,707 shares in the last quarter. MML Investors Services LLC bought a new stake in Veren during the third quarter worth about $163,000. Public Employees Retirement System of Ohio acquired a new position in Veren during the third quarter valued at approximately $1,769,000. Barclays PLC grew its stake in Veren by 313.7% in 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 in the last quarter. Finally, Geode Capital Management LLC increased its position in shares of Veren by 4.3% during the 3rd quarter. Geode Capital Management LLC now owns 380,386 shares of the company's stock worth $2,351,000 after purchasing an additional 15,594 shares during the last quarter. Institutional investors own 49.37% of the company's stock.

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.