Foundry Partners LLC Takes $6.73 Million Position in Veren Inc. (NYSE:VRN)

Foundry Partners LLC acquired a new stake in Veren Inc. (NYSE:VRN) in the 3rd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor acquired 1,094,910 shares of the company’s stock, valued at approximately $6,734,000. Foundry Partners LLC owned 0.18% of Veren at the end of the most recent reporting period.

A number of other large investors have also added to or reduced their stakes in the business. CIBC Asset Management Inc acquired a new position in Veren in the 2nd quarter valued at approximately $155,853,000. Ninepoint Partners LP bought a new stake in shares of Veren in the second quarter worth $125,920,000. Bank of Montreal Can acquired a new stake in Veren in the second quarter valued at $105,665,000. Dimensional Fund Advisors LP bought a new position in Veren during the 2nd quarter worth $79,409,000. Finally, Millennium Management LLC acquired a new position in Veren during the 2nd quarter worth about $74,306,000. Institutional investors own 49.37% of the company’s stock.

Analyst Upgrades and Downgrades

Several brokerages have recently weighed in on VRN. Royal Bank of Canada decreased their price target on 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 assumed coverage on shares of Veren in a research report on Friday, October 18th. They set a “strong-buy” rating and a $13.00 target price for the company.

Veren Trading Up 2.2 %

Shares of VRN opened at $5.37 on Thursday. 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 fifty day moving average price is $5.99. 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 $3.30 billion, a PE ratio of 3.83 and a beta of 2.17.

Veren Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Thursday, January 2nd. Investors of record on Sunday, December 15th will be given a dividend of $0.085 per share. 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. This represents a $0.34 annualized dividend and a dividend yield of 6.34%. Veren’s dividend payout ratio is presently 24.29%.

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.