Oliver Lagore Vanvalin Investment Group Invests $103,000 in Veren Inc. (NYSE:VRN)

Oliver Lagore Vanvalin Investment Group bought a new stake in Veren Inc. (NYSE:VRN) in the second quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm bought 13,036 shares of the company’s stock, valued at approximately $103,000.

Other hedge funds have also modified their holdings of the company. Dixon Mitchell Investment Counsel Inc. acquired a new stake in Veren in the second quarter valued at approximately $36,000. EverSource Wealth Advisors LLC purchased a new position in shares of Veren in the second quarter valued at $42,000. Pacifica Partners Inc. acquired a new stake in Veren during the 2nd quarter valued at $61,000. Fifth Third Bancorp purchased a new stake in Veren during the 2nd quarter worth $85,000. Finally, Brighton Jones LLC acquired a new position in Veren in the 2nd quarter worth $108,000. 49.37% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

Separately, Scotiabank lowered their target price on 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 Stock Up 1.3 %

Shares of NYSE VRN opened at $6.15 on Friday. 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 Inc. has a fifty-two week low of $6.03 and a fifty-two week high of $9.28. The company’s 50 day simple moving average is $6.95. The firm has a market cap of $3.80 billion, a price-to-earnings ratio of -76.88 and a beta of 2.16.

Veren (NYSE:VRN) last released its quarterly earnings results on Thursday, July 25th. The company reported $0.28 earnings per share for the quarter, hitting analysts’ consensus estimates of $0.28. The business 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%. On average, analysts anticipate that Veren Inc. will post 1 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. Stockholders of record on Sunday, September 15th will be given a dividend of $0.0834 per share. This is a boost from Veren’s previous quarterly dividend of $0.08. The ex-dividend date is Friday, September 13th. This represents a $0.33 annualized dividend and a dividend yield of 5.42%. Veren’s dividend payout ratio (DPR) is presently -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.