Brighton Jones LLC Invests $108,000 in Veren Inc. (NYSE:VRN)

Brighton Jones LLC bought a new position in shares of Veren Inc. (NYSE:VRN) during the 2nd quarter, Holdings Channel reports. The institutional investor bought 13,713 shares of the company’s stock, valued at approximately $108,000.

Several other hedge funds and other institutional investors have also made changes to their positions in the business. Dixon Mitchell Investment Counsel Inc. acquired a new stake in Veren during the second quarter worth approximately $36,000. Pacifica Partners Inc. purchased a new position in shares of Veren in the 2nd quarter valued at $61,000. Fifth Third Bancorp acquired a new stake in Veren during the 2nd quarter worth $85,000. XTX Topco Ltd purchased a new stake in Veren in the second quarter valued at $124,000. Finally, Perkins Coie Trust Co acquired a new position in Veren in the second quarter valued at $205,000. Institutional investors and hedge funds own 49.37% of the company’s stock.

Veren Trading Down 0.9 %

Shares of NYSE VRN opened at $6.39 on Tuesday. The stock has a market capitalization of $3.95 billion, a PE ratio of -79.81 and a beta of 2.16. Veren Inc. has a twelve month low of $6.03 and a twelve month high of $9.28. The company has a 50 day moving average price of $7.07. The company has a debt-to-equity ratio of 0.36, a quick ratio of 0.49 and a current ratio of 0.49.

Veren (NYSE:VRN) last released its quarterly earnings results on Thursday, July 25th. The company reported $0.28 EPS for the quarter, meeting the consensus estimate of $0.28. The firm had revenue of $852.57 million during the quarter, compared to the consensus estimate of $821.00 million. Veren had a negative net margin of 0.69% and a positive return on equity of 13.50%. As a group, research analysts predict that Veren Inc. will post 1.06 earnings per share for the current year.

Veren Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Tuesday, October 1st. Investors of record on Sunday, September 15th will be issued a dividend of $0.0834 per share. The ex-dividend date of this dividend is Friday, September 13th. This represents a $0.33 dividend on an annualized basis and a dividend yield of 5.22%. This is a positive change from Veren’s previous quarterly dividend of $0.08. Veren’s dividend payout ratio (DPR) is currently -412.50%.

Analysts Set New Price Targets

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

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.