Bokf Na Buys New Holdings in Veren Inc. (NYSE:VRN)

Bokf Na purchased a new position in shares of Veren Inc. (NYSE:VRN) in the second quarter, Holdings Channel reports. The fund purchased 27,298 shares of the company’s stock, valued at approximately $215,000.

Other institutional investors and hedge funds have also bought and sold shares of the company. American Century Companies Inc. acquired a new stake in shares of Veren in the second quarter worth $32,076,000. SIR Capital Management L.P. purchased a new stake in Veren in the second quarter valued at $7,260,000. National Bank of Canada FI acquired a new stake in Veren during the 2nd quarter worth about $8,896,000. TD Asset Management Inc purchased a new position in shares of Veren during the 2nd quarter valued at about $30,556,000. Finally, CIBC Asset Management Inc acquired a new position in shares of Veren in the 2nd quarter valued at about $155,853,000. 49.37% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

Separately, Scotiabank dropped their target price on Veren from $16.00 to $15.00 and set a “sector outperform” rating on the stock in a report on Friday, July 12th.

Veren Price Performance

NYSE:VRN opened at $6.44 on Wednesday. The company has a debt-to-equity ratio of 0.36, a quick ratio of 0.49 and a current ratio of 0.49. The company’s 50 day moving average price is $7.20. Veren Inc. has a 1-year low of $6.03 and a 1-year high of $9.28. The stock has a market cap of $3.98 billion, a price-to-earnings ratio of -80.50 and a beta of 2.16.

Veren (NYSE:VRN) last released its quarterly earnings data on Thursday, July 25th. The company reported $0.28 earnings per share for the quarter, meeting analysts’ consensus estimates of $0.28. Veren had a negative net margin of 0.69% and a positive return on equity of 13.50%. The company had revenue of $852.57 million during the quarter, compared to analysts’ expectations of $821.00 million. On average, sell-side analysts anticipate that Veren Inc. will post 1.06 earnings per share for the current fiscal year.

Veren Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, October 1st. Shareholders of record on Sunday, September 15th will be given a dividend of $0.0834 per share. The ex-dividend date is Friday, September 13th. This represents a $0.33 dividend on an annualized basis and a yield of 5.18%. This is an increase from Veren’s previous quarterly dividend of $0.08. Veren’s dividend payout ratio is currently -412.50%.

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.