Short Interest in Veren Inc. (NYSE:VRN) Increases By 39.6%

Veren Inc. (NYSE:VRN) was the recipient 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 daily trading volume, of 17,170,000 shares, the days-to-cover ratio is presently 0.9 days.

Veren Stock Up 3.7 %

Shares of VRN traded up $0.23 during trading hours on Monday, reaching $6.33. The stock had a trading volume of 25,792,232 shares, compared to its average volume of 8,347,201. The company has a market capitalization of $3.87 billion, a price-to-earnings ratio of 4.52 and a beta of 2.08. The firm has a 50-day simple moving average of $5.30 and a 200 day simple moving average of $5.57. The company has a current ratio of 0.88, a quick ratio of 0.88 and a debt-to-equity ratio of 0.34. Veren has a 12 month low of $4.40 and a 12 month high of $9.02.

Veren Cuts Dividend

The company also recently declared 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 dividend yield of 5.04%. The ex-dividend date of this dividend is Friday, March 14th. Veren’s payout ratio is currently 100.00%.

Institutional Inflows and Outflows

A number of institutional investors have recently bought and sold shares of the business. Vanguard Group Inc. lifted its stake in shares of Veren by 2.1% during the 4th quarter. Vanguard Group Inc. now owns 25,082,135 shares of the company’s stock valued at $128,947,000 after buying an additional 507,176 shares in the last quarter. Ninepoint Partners LP raised its stake in Veren by 16.6% in the fourth quarter. Ninepoint Partners LP now owns 21,100,000 shares of the company’s stock valued at $108,454,000 after purchasing an additional 3,000,000 shares in the last quarter. HITE Hedge Asset Management LLC purchased a new position in Veren in the third quarter worth $65,155,000. Invesco Ltd. boosted its holdings in shares of 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 purchasing an additional 69,969 shares in the last quarter. Finally, Principal Financial Group Inc. boosted its stake in Veren by 3.9% in the fourth 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 in the last quarter. Institutional investors own 49.37% of the company’s stock.

Veren Company 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.