Point72 Europe London LLP Makes New Investment in Veren Inc. (NYSE:VRN)

Point72 Europe London LLP bought a new stake in Veren Inc. (NYSE:VRN) in the second quarter, HoldingsChannel.com reports. The institutional investor bought 1,899,358 shares of the company’s stock, valued at approximately $14,973,000. Veren makes up approximately 1.2% of Point72 Europe London LLP’s holdings, making the stock its 27th biggest holding.

A number of other hedge funds and other institutional investors also recently made changes to their positions in the business. Dixon Mitchell Investment Counsel Inc. bought a new stake in Veren during the 2nd quarter worth about $36,000. EverSource Wealth Advisors LLC bought a new stake in shares of Veren during the second quarter valued at approximately $42,000. Pacifica Partners Inc. bought a new stake in shares of Veren during the second quarter valued at approximately $61,000. Fifth Third Bancorp acquired a new stake in shares of Veren in the second quarter valued at approximately $85,000. Finally, Brighton Jones LLC bought a new position in Veren in the 2nd quarter worth approximately $108,000. 49.37% of the stock is currently owned by institutional investors and hedge funds.

Veren Trading Up 1.8 %

Shares of VRN stock opened at $6.51 on Wednesday. The company has a debt-to-equity ratio of 0.36, a current ratio of 0.49 and a quick ratio of 0.49. The stock has a 50-day moving average price of $7.04. Veren Inc. has a 12 month low of $6.03 and a 12 month high of $9.28.

Veren (NYSE:VRN) last released its quarterly earnings data on Thursday, July 25th. The company reported $0.28 EPS 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 business had revenue of $852.57 million during the quarter, compared to analysts’ expectations of $821.00 million. Equities analysts forecast that Veren Inc. will post 1 EPS for the current fiscal year.

Veren Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Tuesday, October 1st. Stockholders of record on Sunday, September 15th will be issued a $0.0834 dividend. This represents a $0.33 annualized dividend and a dividend yield of 5.13%. The ex-dividend date is Friday, September 13th. This is a boost from Veren’s previous quarterly dividend of $0.08. Veren’s dividend payout ratio is -424.95%.

Analyst Upgrades and Downgrades

Separately, Scotiabank decreased their price objective 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.