Toronto Dominion Bank Takes Position in Veren Inc. (NYSE:VRN)

Toronto Dominion Bank bought a new stake in Veren Inc. (NYSE:VRN) in the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm bought 137,637 shares of the company’s stock, valued at approximately $1,083,000.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. CIBC Asset Management Inc bought a new position in shares of Veren in the 2nd quarter worth $155,853,000. Bank of Montreal Can bought a new position in shares of Veren in the 2nd quarter worth $105,665,000. Dimensional Fund Advisors LP bought a new position in shares of Veren in the 2nd quarter worth $79,409,000. American Century Companies Inc. bought a new position in shares of Veren in the 2nd quarter worth $32,076,000. Finally, TD Asset Management Inc bought a new position in shares of Veren in the 2nd quarter worth $30,556,000. 49.37% of the stock is owned by institutional investors and hedge funds.

Veren Price Performance

NYSE:VRN opened at $6.15 on Tuesday. Veren Inc. has a 12-month low of $6.03 and a 12-month high of $9.28. 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 company has a market cap of $3.80 billion, a price-to-earnings ratio of -76.75 and a beta of 2.16. The business has a fifty day moving average of $6.95.

Veren (NYSE:VRN) last posted its earnings results on Thursday, July 25th. The company reported $0.28 earnings per share for the quarter, hitting the consensus estimate of $0.28. The firm had revenue of $852.57 million for the quarter, compared to analyst estimates of $821.00 million. Veren had a positive return on equity of 13.50% and a negative net margin of 0.69%. As a group, equities research analysts expect that Veren Inc. will post 1 earnings per share for the current year.

Veren Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, October 1st. Shareholders 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 is a positive change from Veren’s previous quarterly dividend of $0.08. This represents a $0.33 annualized dividend and a yield of 5.42%. Veren’s payout ratio is currently -412.50%.

Analyst Ratings Changes

Separately, Scotiabank reduced their price target 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 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.