First Trust Advisors LP Raises Holdings in Veren Inc. (NYSE:VRN)

First Trust Advisors LP boosted its stake in Veren Inc. (NYSE:VRN) by 36.1% during the fourth quarter, Holdings Channel.com reports. The firm owned 1,357,931 shares of the company’s stock after buying an additional 360,263 shares during the period. First Trust Advisors LP’s holdings in Veren were worth $6,980,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. EverSource Wealth Advisors LLC increased its stake in shares of Veren by 80.6% in the fourth quarter. EverSource Wealth Advisors LLC now owns 5,951 shares of the company’s stock worth $31,000 after buying an additional 2,655 shares during the period. Arkadios Wealth Advisors purchased a new position in shares of Veren in the fourth quarter valued at about $59,000. Orion Portfolio Solutions LLC bought a new position in shares of Veren during the fourth quarter valued at about $71,000. Farringdon Capital Ltd. purchased a new stake in shares of Veren during the fourth quarter worth about $74,000. Finally, Truist Financial Corp purchased a new position in Veren during the 4th quarter valued at about $76,000. Institutional investors own 49.37% of the company’s stock.

Veren Trading Down 1.5 %

NYSE VRN opened at $6.10 on Wednesday. The stock has a market cap of $3.73 billion, a P/E ratio of 4.35 and a beta of 1.45. Veren Inc. has a fifty-two week low of $4.40 and a fifty-two week high of $9.02. The stock has a 50 day simple moving average of $5.87 and a two-hundred day simple moving average of $5.50. The company has a debt-to-equity ratio of 0.34, a quick ratio of 0.88 and a current ratio of 0.88.

Veren Cuts Dividend

The business also recently declared a quarterly dividend, which was paid on Tuesday, April 1st. Investors of record on Saturday, March 15th were issued a $0.0797 dividend. This represents a $0.32 annualized dividend and a yield of 5.23%. The ex-dividend date was Friday, March 14th. Veren’s dividend payout ratio (DPR) is currently 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.