Veren (NYSE:VRN) Sees Large Volume Increase – Here’s What Happened

Shares of Veren Inc. (NYSE:VRN) saw strong trading volume on Thursday . 12,748,695 shares were traded during trading, an increase of 69% from the previous session’s volume of 7,529,229 shares.The stock last traded at $4.93 and had previously closed at $4.95.

Veren Trading Down 0.7 %

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 firm’s 50-day simple moving average is $5.22 and its 200 day simple moving average is $5.67. The stock has a market capitalization of $3.01 billion, a P/E ratio of 3.51 and a beta of 2.10.

Veren Cuts Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, April 1st. Stockholders of record on Saturday, March 15th will be given a dividend of $0.0797 per share. The ex-dividend date of this dividend is Friday, March 14th. This represents a $0.32 dividend on an annualized basis and a dividend yield of 6.48%. Veren’s dividend payout ratio (DPR) is presently 100.00%.

Hedge Funds Weigh In On Veren

Hedge funds have recently modified their holdings of the stock. Principal Financial Group Inc. lifted its holdings in shares of Veren by 19.3% during the third quarter. Principal Financial Group Inc. now owns 4,038,140 shares of the company’s stock valued at $24,899,000 after purchasing an additional 653,300 shares during the last quarter. Olympiad Research LP lifted its stake in Veren by 36.2% during the third quarter. Olympiad Research LP now owns 29,088 shares of the company’s stock valued at $179,000 after buying an additional 7,724 shares in the last quarter. Easterly Investment Partners LLC lifted its stake in Veren by 15.0% during the third quarter. Easterly Investment Partners LLC now owns 452,380 shares of the company’s stock valued at $2,782,000 after buying an additional 59,035 shares in the last quarter. Versor Investments LP acquired a new position in shares of Veren in the third quarter worth about $354,000. Finally, Entropy Technologies LP purchased a new position in shares of Veren in the third quarter worth approximately $1,485,000. 49.37% of the stock is currently owned by institutional investors and hedge funds.

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.