Veren Inc. (NYSE:VRN) Shares Purchased by National Bank of Canada FI

National Bank of Canada FI raised its position in shares of Veren Inc. (NYSE:VRN) by 94.7% in the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 2,217,305 shares of the company’s stock after acquiring an additional 1,078,596 shares during the period. National Bank of Canada FI owned approximately 0.36% of Veren worth $13,637,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. SG Americas Securities LLC purchased a new stake in shares of Veren during the 2nd quarter worth about $293,000. Dynamic Advisor Solutions LLC acquired a new stake in shares of Veren during the 2nd quarter valued at approximately $234,000. Lorne Steinberg Wealth Management Inc. bought a new position in Veren during the second quarter worth $624,000. Fifth Third Bancorp acquired a new position in Veren in the second quarter worth $85,000. Finally, Penbrook Management LLC bought a new stake in Veren during the second quarter valued at $3,723,000. 49.37% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

Several research firms have recently commented on VRN. Raymond James started coverage on shares of Veren in a report on Friday, October 18th. They issued a “strong-buy” rating and a $13.00 price target for the company. Royal Bank of Canada decreased their target price on Veren from $12.00 to $10.00 and set an “outperform” rating for the company in a research note on Friday, November 1st.

Veren Stock Performance

VRN stock opened at $4.95 on Wednesday. Veren Inc. has a 1 year low of $4.90 and a 1 year high of $9.28. The stock has a market capitalization of $3.04 billion, a price-to-earnings ratio of 3.53 and a beta of 2.16. The company has a debt-to-equity ratio of 0.34, a quick ratio of 0.88 and a current ratio of 0.88. The stock’s fifty day moving average is $5.66 and its two-hundred day moving average is $6.76.

Veren Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, January 2nd. Investors of record on Sunday, December 15th will be given a $0.085 dividend. The ex-dividend date of this dividend is Friday, December 13th. This is an increase from Veren’s previous quarterly dividend of $0.08. This represents a $0.34 annualized dividend and a yield of 6.88%. Veren’s dividend payout ratio (DPR) is currently 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.