1,094,910 Shares in Veren Inc. (NYSE:VRN) Bought by Foundry Partners LLC

Foundry Partners LLC purchased a new position in Veren Inc. (NYSE:VRN) in the third quarter, Holdings Channel.com reports. The institutional investor purchased 1,094,910 shares of the company’s stock, valued at approximately $6,734,000.

Several other hedge funds and other institutional investors have also recently bought and sold shares of the stock. CIBC Asset Management Inc acquired a new stake in shares of Veren in the 2nd quarter valued at about $155,853,000. Ninepoint Partners LP bought a new position in Veren in the second quarter worth approximately $125,920,000. Bank of Montreal Can acquired a new position in shares of Veren during the second quarter worth approximately $105,665,000. Dimensional Fund Advisors LP bought a new position in shares of Veren in the 2nd quarter worth $79,409,000. Finally, Millennium Management LLC acquired a new stake in Veren in the 2nd quarter valued at $74,306,000. 49.37% of the stock is owned by institutional investors.

Veren Stock Up 2.2 %

Shares of VRN stock opened at $5.37 on Thursday. 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 business’s 50 day moving average is $5.99. Veren Inc. has a 12-month low of $4.90 and a 12-month high of $9.28. The stock has a market cap of $3.30 billion, a price-to-earnings ratio of 3.83 and a beta of 2.17.

Veren Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Thursday, January 2nd. Stockholders of record on Sunday, December 15th will be paid a dividend of $0.085 per share. This is an increase from Veren’s previous quarterly dividend of $0.08. The ex-dividend date is Friday, December 13th. This represents a $0.34 annualized dividend and a dividend yield of 6.34%. Veren’s dividend payout ratio is presently 24.29%.

Analysts Set New Price Targets

VRN has been the topic of a number of recent research reports. Raymond James initiated coverage on shares of Veren in a research note on Friday, October 18th. They issued a “strong-buy” rating and a $13.00 price objective on the stock. Royal Bank of Canada cut their target price on Veren from $12.00 to $10.00 and set an “outperform” rating on the stock in a research note on Friday, November 1st.

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.