Veren (NYSE:VRN) Sees Large Volume Increase – Time to Buy?

Veren Inc. (NYSE:VRN) shares saw an uptick in trading volume on Wednesday . 11,679,521 shares traded hands during trading, an increase of 44% from the previous session’s volume of 8,135,834 shares.The stock last traded at $5.98 and had previously closed at $5.86.

Veren Trading Up 4.0 %

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 stock has a market capitalization of $3.73 billion, a P/E ratio of 4.35 and a beta of 2.08. The business’s fifty day simple moving average is $5.25 and its two-hundred day simple moving average is $5.60.

Veren Cuts Dividend

The company also recently announced a quarterly dividend, which will be paid on Tuesday, April 1st. Investors of record on Saturday, March 15th will be given a dividend of $0.0797 per share. This represents a $0.32 dividend on an annualized basis and a yield of 5.23%. The ex-dividend date of this dividend is Friday, March 14th. Veren’s dividend payout ratio (DPR) is presently 100.00%.

Hedge Funds Weigh In On Veren

Institutional investors and hedge funds have recently added to or reduced their stakes in the company. Mackenzie Financial Corp grew its holdings in shares of Veren by 88.2% during the 4th quarter. Mackenzie Financial Corp now owns 322,604 shares of the company’s stock worth $1,657,000 after purchasing an additional 151,167 shares in the last quarter. Public Employees Retirement System of Ohio lifted its position in Veren by 34.5% in the fourth quarter. Public Employees Retirement System of Ohio now owns 385,899 shares of the company’s stock worth $1,983,000 after purchasing an additional 98,920 shares during the period. Vise Technologies Inc. boosted its stake in Veren by 33.1% during the fourth quarter. Vise Technologies Inc. now owns 13,722 shares of the company’s stock worth $71,000 after buying an additional 3,412 shares in the last quarter. Squarepoint Ops LLC bought a new stake in Veren in the 4th quarter valued at $295,000. Finally, State of Wyoming raised its stake in shares of Veren by 44.7% in the 4th quarter. State of Wyoming now owns 10,736 shares of the company’s stock valued at $55,000 after buying an additional 3,319 shares in the last quarter. 49.37% of the stock is currently owned by institutional investors.

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.