Wilmington Savings Fund Society FSB Makes New $108,000 Investment in Veren Inc. (NYSE:VRN)

Wilmington Savings Fund Society FSB bought a new position in shares of Veren Inc. (NYSE:VRN) during the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor bought 17,636 shares of the company’s stock, valued at approximately $108,000.

Other large investors also recently modified their holdings of the company. CIBC Asset Management Inc acquired a new stake in Veren during the second quarter worth about $155,853,000. Ninepoint Partners LP bought a new position in shares of Veren during the second quarter valued at approximately $125,920,000. Bank of Montreal Can acquired a new stake in shares of Veren during the 2nd quarter worth approximately $105,665,000. HITE Hedge Asset Management LLC bought a new stake in shares of Veren in the 3rd quarter worth approximately $65,155,000. Finally, Dimensional Fund Advisors LP bought a new stake in shares of Veren in the 2nd quarter worth approximately $79,409,000. 49.37% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

Several brokerages have weighed in on VRN. Raymond James started coverage on Veren in a research report on Friday, October 18th. They issued a “strong-buy” rating and a $13.00 target price on the stock. Royal Bank of Canada dropped their price objective on shares of Veren from $12.00 to $10.00 and set an “outperform” rating on the stock in a report on Friday, November 1st.

Veren Stock Performance

Shares of NYSE VRN 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 company has a market cap of $2.87 billion, a PE ratio of 3.33 and a beta of 2.16. The stock has a 50 day simple moving average of $5.37 and a 200-day simple moving average of $6.58. The company has a current ratio of 0.88, a quick ratio of 0.88 and a debt-to-equity ratio of 0.34.

Veren Increases Dividend

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

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.