SG Americas Securities LLC Sells 16,489 Shares of Veren Inc. (NYSE:VRN)

SG Americas Securities LLC trimmed its stake in shares of Veren Inc. (NYSE:VRN) by 44.2% during the third quarter, HoldingsChannel.com reports. The firm owned 20,794 shares of the company’s stock after selling 16,489 shares during the quarter. SG Americas Securities LLC’s holdings in Veren were worth $128,000 as of its most recent filing with the SEC.

A number of other hedge funds and other institutional investors also recently made changes to their positions in the stock. Pacifica Partners Inc. bought a new position in Veren in the 2nd quarter worth about $61,000. Dixon Mitchell Investment Counsel Inc. bought a new position in shares of Veren in the second quarter valued at approximately $36,000. Perkins Coie Trust Co bought a new position in shares of Veren in the second quarter valued at approximately $205,000. Dynamic Advisor Solutions LLC purchased a new position in Veren during the second quarter valued at approximately $234,000. Finally, Lorne Steinberg Wealth Management Inc. bought a new stake in Veren during the 2nd quarter worth approximately $624,000. 49.37% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

VRN has been the subject of a number of recent analyst reports. Raymond James began coverage on shares of Veren in a research report on Friday, October 18th. They set a “strong-buy” rating and a $13.00 price target for the company. Scotiabank reduced their target price on Veren from $16.00 to $15.00 and set a “sector outperform” rating for the company in a research report on Friday, July 12th.

Veren Price Performance

Shares of VRN opened at $6.26 on Friday. Veren Inc. has a 1-year low of $5.95 and a 1-year high of $9.28. The stock has a market capitalization of $3.87 billion, a P/E ratio of -78.25 and a beta of 2.14. 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 50 day moving average of $6.55.

Veren (NYSE:VRN) last posted its quarterly earnings data 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 negative net margin of 0.69% and a positive return on equity of 13.50%. The firm had revenue of $852.57 million for the quarter, compared to analysts’ expectations of $821.00 million. On average, equities analysts anticipate that Veren Inc. will post 0.99 earnings per share for the current year.

About Veren

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.