Bank of America Corp DE Sells 708,919 Shares of Veren Inc. (NYSE:VRN)

Bank of America Corp DE lowered its holdings in shares of Veren Inc. (NYSE:VRN) by 9.5% in the fourth quarter, according to its most recent disclosure with the SEC. The firm owned 6,721,765 shares of the company’s stock after selling 708,919 shares during the period. Bank of America Corp DE owned 1.10% of Veren worth $34,550,000 as of its most recent filing with the SEC.

A number of other hedge funds and other institutional investors have also bought and sold shares of the business. Ninepoint Partners LP boosted its holdings in shares of Veren by 16.6% during the fourth quarter. Ninepoint Partners LP now owns 21,100,000 shares of the company’s stock worth $108,454,000 after acquiring an additional 3,000,000 shares during the period. Bornite Capital Management LP bought a new stake in shares of Veren during the fourth quarter worth approximately $10,280,000. Canada Pension Plan Investment Board bought a new stake in shares of Veren during the fourth quarter worth approximately $10,269,000. Trexquant Investment LP boosted its holdings in shares of Veren by 329.9% during the fourth quarter. Trexquant Investment LP now owns 1,489,872 shares of the company’s stock worth $7,658,000 after acquiring an additional 1,143,293 shares during the period. Finally, South Dakota Investment Council boosted its holdings in shares of Veren by 194.2% during the fourth quarter. South Dakota Investment Council now owns 1,731,831 shares of the company’s stock worth $8,902,000 after acquiring an additional 1,143,159 shares during the period. Institutional investors own 49.37% of the company’s stock.

Veren Stock Performance

Shares of NYSE:VRN opened at $6.01 on Friday. Veren Inc. has a 12-month low of $4.40 and a 12-month high of $9.02. The stock has a market cap of $3.68 billion, a PE ratio of 4.29 and a beta of 0.93. The business has a 50 day moving average of $6.09 and a 200-day moving average of $5.49. The company has a quick ratio of 0.88, a current ratio of 0.88 and a debt-to-equity ratio of 0.34.

Veren Cuts Dividend

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, April 1st. Stockholders of record on Saturday, March 15th were issued a dividend of $0.0797 per share. This represents a $0.32 dividend on an annualized basis and a dividend yield of 5.30%. The ex-dividend date was Friday, March 14th. Veren’s dividend payout ratio is presently 96.88%.

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.