Veren Inc. (NYSE:VRN) Shares Purchased by Easterly Investment Partners LLC

Easterly Investment Partners LLC raised its stake in shares of Veren Inc. (NYSE:VRN) by 15.0% during the third quarter, Holdings Channel.com reports. The institutional investor owned 452,380 shares of the company’s stock after buying an additional 59,035 shares during the period. Easterly Investment Partners LLC’s holdings in Veren were worth $2,782,000 at the end of the most recent reporting period.

A number of other large investors have also recently bought and sold shares of the stock. Olympiad Research LP grew its holdings in Veren by 36.2% during the 3rd quarter. Olympiad Research LP now owns 29,088 shares of the company’s stock valued at $179,000 after buying an additional 7,724 shares during the last quarter. Principal Financial Group Inc. grew its holdings in Veren by 19.3% during the 3rd quarter. Principal Financial Group Inc. now owns 4,038,140 shares of the company’s stock valued at $24,899,000 after buying an additional 653,300 shares during the last quarter. Capital Management Corp VA grew its holdings in Veren by 92.1% during the 3rd quarter. Capital Management Corp VA now owns 3,124,775 shares of the company’s stock valued at $19,217,000 after buying an additional 1,498,544 shares during the last quarter. Intact Investment Management Inc. grew its holdings in Veren by 46.7% during the 3rd quarter. Intact Investment Management Inc. now owns 5,458,686 shares of the company’s stock valued at $33,624,000 after buying an additional 1,737,840 shares during the last quarter. Finally, DORCHESTER WEALTH MANAGEMENT Co purchased a new position in shares of Veren during the 3rd quarter worth $79,000. Institutional investors and hedge funds own 49.37% of the company’s stock.

Veren Stock Performance

Shares of VRN traded down $0.14 during trading hours on Friday, hitting $5.25. The stock had a trading volume of 2,264,865 shares, compared to its average volume of 4,627,567. 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 capitalization of $3.24 billion, a price-to-earnings ratio of 3.75 and a beta of 2.17. The stock has a fifty day simple moving average of $6.22. Veren Inc. has a 12-month low of $4.90 and a 12-month high of $9.28.

Veren Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Thursday, January 2nd. Investors of record on Sunday, December 15th will be given a $0.085 dividend. This is a positive change from Veren’s previous quarterly dividend of $0.08. This represents a $0.34 annualized dividend and a dividend yield of 6.48%. The ex-dividend date of this dividend is Friday, December 13th. Veren’s dividend payout ratio (DPR) is 24.29%.

Analysts Set New Price Targets

A number of brokerages have weighed in on VRN. Scotiabank reduced their price target on Veren from $16.00 to $15.00 and set a “sector outperform” rating on the stock in a research note on Friday, July 12th. Raymond James began coverage on Veren in a research note on Friday, October 18th. They set a “strong-buy” rating and a $13.00 price target on the stock. Finally, Royal Bank of Canada reduced their price target on Veren from $12.00 to $10.00 and set an “outperform” rating on the stock in a research note on Friday, November 1st.

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.