10,090,105 Shares in Veren Inc. (NYSE:VRN) Acquired by Dimensional Fund Advisors LP

Dimensional Fund Advisors LP bought a new position in Veren Inc. (NYSE:VRN) during the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm bought 10,090,105 shares of the company’s stock, valued at approximately $79,409,000. Dimensional Fund Advisors LP owned 1.63% of Veren at the end of the most recent reporting period.

Other hedge funds also recently added to or reduced their stakes in the company. Lorne Steinberg Wealth Management Inc. acquired a new position in Veren during the 2nd quarter worth $624,000. Easterly Investment Partners LLC bought a new stake in shares of Veren during the second quarter valued at about $3,096,000. CIBC Asset Management Inc acquired a new stake in Veren in the second quarter worth about $155,853,000. American Century Companies Inc. bought a new position in Veren in the 2nd quarter valued at about $32,076,000. Finally, National Bank of Canada FI bought a new position in Veren in the 2nd quarter valued at about $8,896,000. 49.37% of the stock is currently owned by institutional investors.

Veren Stock Performance

Shares of NYSE VRN opened at $6.07 on Friday. Veren Inc. has a 1 year low of $6.03 and a 1 year high of $9.28. The company has a market cap of $3.76 billion, a price-to-earnings ratio of -75.88 and a beta of 2.16. The firm’s fifty day moving average price is $7.02. The company has a current ratio of 0.49, a quick ratio of 0.49 and a debt-to-equity ratio of 0.36.

Veren (NYSE:VRN) last announced its earnings results on Thursday, July 25th. The company reported $0.28 earnings per share for the quarter, meeting the consensus estimate of $0.28. Veren had a positive return on equity of 13.50% and a negative net margin of 0.69%. The business had revenue of $852.57 million during the quarter, compared to analysts’ expectations of $821.00 million. On average, research analysts predict that Veren Inc. will post 1 earnings per share for the current fiscal year.

Veren Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, October 1st. Investors of record on Sunday, September 15th will be paid a dividend of $0.0834 per share. The ex-dividend date of this dividend is Friday, September 13th. This is a positive change from Veren’s previous quarterly dividend of $0.08. This represents a $0.33 annualized dividend and a yield of 5.50%. Veren’s dividend payout ratio is currently -412.50%.

Wall Street Analyst Weigh In

Separately, Scotiabank reduced their price target on shares of Veren from $16.00 to $15.00 and set a “sector outperform” rating for the company in a research note on Friday, July 12th.

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.