173,265 Shares in Veren Inc. (NYSE:VRN) Purchased by Dynamic Technology Lab Private Ltd

Dynamic Technology Lab Private Ltd bought a new position in Veren Inc. (NYSE:VRN) in the 3rd quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund bought 173,265 shares of the company’s stock, valued at approximately $1,065,000.

Other hedge funds and other institutional investors have also recently made changes to their positions in the company. Dixon Mitchell Investment Counsel Inc. purchased a new position in Veren in the 2nd quarter worth approximately $36,000. EverSource Wealth Advisors LLC bought a new position in shares of Veren during the second quarter valued at $42,000. Pacifica Partners Inc. purchased a new stake in shares of Veren during the second quarter valued at $61,000. DORCHESTER WEALTH MANAGEMENT Co bought a new stake in Veren in the 3rd quarter worth about $79,000. Finally, Fifth Third Bancorp purchased a new position in Veren in the 2nd quarter worth about $85,000. Institutional investors own 49.37% of the company’s stock.

Veren Trading Down 2.7 %

Shares of NYSE VRN opened at $5.20 on Wednesday. Veren Inc. has a 12-month low of $4.90 and a 12-month high of $9.28. The company has a market capitalization of $3.20 billion, a price-to-earnings ratio of 3.71 and a beta of 2.17. 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 firm’s 50 day simple moving average is $5.89.

Veren Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, January 2nd. Stockholders of record on Sunday, December 15th will be paid a $0.085 dividend. This represents a $0.34 annualized dividend and a dividend yield of 6.54%. This is a positive change from Veren’s previous quarterly dividend of $0.08. The ex-dividend date of this dividend is Friday, December 13th. Veren’s dividend payout ratio is 24.29%.

Wall Street Analyst Weigh In

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

Veren 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.