Wilmington Savings Fund Society FSB Makes New Investment in Veren Inc. (NYSE:VRN)

Wilmington Savings Fund Society FSB acquired a new stake in Veren Inc. (NYSE:VRN) in the 3rd quarter, Holdings Channel reports. The fund acquired 17,636 shares of the company’s stock, valued at approximately $108,000.

A number of other hedge funds have also made changes to their positions in VRN. EverSource Wealth Advisors LLC acquired a new stake in Veren in the second quarter worth approximately $42,000. DORCHESTER WEALTH MANAGEMENT Co acquired a new stake in shares of Veren in the third quarter valued at $79,000. Fifth Third Bancorp bought a new position in Veren during the second quarter valued at about $85,000. Oliver Lagore Vanvalin Investment Group bought a new position in Veren during the second quarter valued at about $103,000. Finally, Blue Trust Inc. acquired a new position in Veren during the third quarter worth about $104,000. Institutional investors and hedge funds own 49.37% of the company’s stock.

Analyst Ratings Changes

A number of equities research analysts have weighed in on the stock. Raymond James started coverage on shares of Veren in a report on Friday, October 18th. They issued a “strong-buy” rating and a $13.00 price target for the company. Royal Bank of Canada cut their target price on shares of Veren from $12.00 to $10.00 and set an “outperform” rating for the company in a research note on Friday, November 1st.

Veren Stock Up 5.0 %

Shares of Veren stock opened at $4.66 on Friday. Veren Inc. has a 12-month low of $4.39 and a 12-month high of $9.28. The firm has a market capitalization of $2.87 billion, a PE ratio of 3.33 and a beta of 2.16. The company has a quick ratio of 0.88, a current ratio of 0.88 and a debt-to-equity ratio of 0.34. The stock’s fifty day moving average is $5.37 and its 200-day moving average is $6.58.

Veren Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, January 2nd. Shareholders of record on Sunday, December 15th will be issued a dividend of $0.085 per share. This represents a $0.34 annualized dividend and a yield of 7.30%. The ex-dividend date of this dividend is Friday, December 13th. This is an increase from Veren’s previous quarterly dividend of $0.08. Veren’s payout ratio is presently 24.29%.

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.