Veren Inc. (NYSE:VRN) Stock Position Cut by Riverstone Holdings LLC

Riverstone Holdings LLC lessened its holdings in Veren Inc. (NYSE:VRN) by 0.2% in the 4th quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 8,504,474 shares of the company’s stock after selling 18,610 shares during the quarter. Veren accounts for approximately 6.9% of Riverstone Holdings LLC’s holdings, making the stock its 2nd largest holding. Riverstone Holdings LLC owned 1.39% of Veren worth $43,713,000 as of its most recent SEC filing.

Several other institutional investors have also added to or reduced their stakes in the business. Aigen Investment Management LP boosted its holdings in Veren by 35.9% in the fourth quarter. Aigen Investment Management LP now owns 268,584 shares of the company’s stock worth $1,381,000 after acquiring an additional 70,922 shares in the last quarter. Proficio Capital Partners LLC acquired a new stake in Veren in the fourth quarter worth about $164,000. Charles Schwab Investment Management Inc. boosted its holdings in Veren by 6.7% in the fourth quarter. Charles Schwab Investment Management Inc. now owns 1,985,175 shares of the company’s stock worth $10,201,000 after acquiring an additional 124,863 shares in the last quarter. Versor Investments LP boosted its holdings in Veren by 79.5% in the fourth quarter. Versor Investments LP now owns 103,200 shares of the company’s stock worth $530,000 after acquiring an additional 45,700 shares in the last quarter. Finally, K.J. Harrison & Partners Inc boosted its holdings in Veren by 16.3% in the fourth quarter. K.J. Harrison & Partners Inc now owns 71,228 shares of the company’s stock worth $374,000 after acquiring an additional 10,000 shares in the last quarter. Institutional investors and hedge funds own 49.37% of the company’s stock.

Veren Price Performance

Shares of NYSE VRN opened at $5.87 on Wednesday. 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 $3.59 billion, a PE ratio of 4.19 and a beta of 2.08. The business has a 50-day simple moving average of $5.25 and a two-hundred day simple moving average of $5.60. Veren Inc. has a fifty-two week low of $4.40 and a fifty-two week high of $9.02.

Veren Cuts Dividend

The company also recently announced a quarterly dividend, which will be paid on Tuesday, April 1st. Investors of record on Saturday, March 15th will be issued a dividend of $0.0797 per share. This represents a $0.32 dividend on an annualized basis and a dividend yield of 5.43%. The ex-dividend date is Friday, March 14th. Veren’s dividend payout ratio (DPR) is 100.00%.

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.