Veren Inc. (NYSE:VRN) Short Interest Up 39.6% in February

Veren Inc. (NYSE:VRN) was the target of a significant increase in short interest in the month of February. As of February 28th, there was short interest totalling 16,240,000 shares, an increase of 39.6% from the February 13th total of 11,630,000 shares. Approximately 2.7% of the company’s shares are short sold. Based on an average trading volume of 17,170,000 shares, the days-to-cover ratio is currently 0.9 days.

Institutional Investors Weigh In On Veren

Several hedge funds and other institutional investors have recently made changes to their positions in the company. Vanguard Group Inc. raised its stake in shares of Veren by 2.1% in the fourth quarter. Vanguard Group Inc. now owns 25,082,135 shares of the company’s stock valued at $128,947,000 after acquiring an additional 507,176 shares during the period. Ninepoint Partners LP increased its stake in Veren by 16.6% in the 4th quarter. Ninepoint Partners LP now owns 21,100,000 shares of the company’s stock worth $108,454,000 after buying an additional 3,000,000 shares during the period. HITE Hedge Asset Management LLC purchased a new position in Veren in the 3rd quarter worth about $65,155,000. Invesco Ltd. increased its stake in Veren by 1.2% in the 4th quarter. Invesco Ltd. now owns 6,099,882 shares of the company’s stock worth $31,353,000 after buying an additional 69,969 shares during the period. Finally, Principal Financial Group Inc. increased its stake in Veren by 3.9% in the 4th quarter. Principal Financial Group Inc. now owns 4,196,340 shares of the company’s stock worth $21,562,000 after buying an additional 158,200 shares during the period. Hedge funds and other institutional investors own 49.37% of the company’s stock.

Veren Trading Up 1.9 %

Shares of VRN traded up $0.12 during midday trading on Friday, hitting $6.11. The stock had a trading volume of 21,724,940 shares, compared to its average volume of 8,387,324. Veren has a 1 year low of $4.40 and a 1 year high of $9.02. The firm has a market cap of $3.74 billion, a PE ratio of 4.36 and a beta of 2.08. The company has a debt-to-equity ratio of 0.34, a current ratio of 0.88 and a quick ratio of 0.88. The stock’s 50 day moving average is $5.30 and its 200 day moving average is $5.59.

Veren Cuts Dividend

The company also recently announced a quarterly dividend, which will be paid on Tuesday, April 1st. Stockholders of record on Saturday, March 15th will be paid a $0.0797 dividend. This represents a $0.32 annualized dividend and a dividend yield of 5.22%. The ex-dividend date is Friday, March 14th. Veren’s dividend payout ratio is currently 100.00%.

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.