Veren (NYSE:VRN) Shares Gap Up – Here’s What Happened

Shares of Veren Inc. (NYSE:VRN) gapped up prior to trading on Monday . The stock had previously closed at $4.91, but opened at $5.59. Veren shares last traded at $5.57, with a volume of 13,268,003 shares trading hands.

Veren Price Performance

The stock has a market cap of $3.59 billion, a PE ratio of 4.19 and a beta of 2.08. The company has a current ratio of 0.88, a quick ratio of 0.88 and a debt-to-equity ratio of 0.34. The company’s 50 day moving average is $5.25 and its 200-day moving average is $5.60.

Veren Cuts Dividend

The company also recently declared a quarterly dividend, which will be paid on Tuesday, April 1st. Investors of record on Saturday, March 15th will be paid a dividend of $0.0797 per share. This represents a $0.32 annualized dividend and a yield of 5.43%. The ex-dividend date is Friday, March 14th. Veren’s dividend payout ratio (DPR) is 100.00%.

Institutional Investors Weigh In On Veren

A number of institutional investors have recently modified their holdings of the stock. EverSource Wealth Advisors LLC grew its position in shares of Veren by 80.6% during the 4th quarter. EverSource Wealth Advisors LLC now owns 5,951 shares of the company’s stock valued at $31,000 after buying an additional 2,655 shares during the last quarter. Silvercrest Asset Management Group LLC bought a new position in Veren in the 4th quarter worth about $54,000. State of Wyoming grew its position in Veren by 44.7% in the 4th quarter. State of Wyoming now owns 10,736 shares of the company’s stock worth $55,000 after purchasing an additional 3,319 shares during the last quarter. Nebula Research & Development LLC bought a new position in Veren in the 4th quarter worth about $56,000. Finally, Arkadios Wealth Advisors bought a new position in Veren in the 4th quarter worth about $59,000. Institutional investors and hedge funds own 49.37% of the company’s stock.

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.