Creative Planning Sells 4,754 Shares of Veren Inc. (NYSE:VRN)

Creative Planning trimmed its stake in shares of Veren Inc. (NYSE:VRN) by 8.2% in the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 53,173 shares of the company’s stock after selling 4,754 shares during the quarter. Creative Planning’s holdings in Veren were worth $327,000 at the end of the most recent reporting period.

A number of other institutional investors have also added to or reduced their stakes in the stock. Dixon Mitchell Investment Counsel Inc. acquired a new position in Veren during the 2nd quarter worth approximately $36,000. EverSource Wealth Advisors LLC acquired a new position in Veren during the 2nd quarter worth approximately $42,000. Pacifica Partners Inc. acquired a new position in Veren during the 2nd quarter worth approximately $61,000. Fifth Third Bancorp acquired a new position in Veren during the 2nd quarter worth approximately $85,000. Finally, Oliver Lagore Vanvalin Investment Group acquired a new position in Veren during the 2nd quarter worth approximately $103,000. 49.37% of the stock is currently owned by institutional investors and hedge funds.

Veren Stock Performance

Shares of NYSE VRN opened at $5.28 on Friday. Veren Inc. has a 52-week low of $4.90 and a 52-week high of $9.28. The company has a debt-to-equity ratio of 0.34, a quick ratio of 0.88 and a current ratio of 0.88. The company has a 50 day simple moving average of $6.18. The firm has a market cap of $3.25 billion, a PE ratio of 3.77 and a beta of 2.17.

Veren Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, January 2nd. Stockholders of record on Sunday, December 15th will be given a dividend of $0.085 per share. The ex-dividend date of this dividend is Friday, December 13th. This is a boost from Veren’s previous quarterly dividend of $0.08. This represents a $0.34 annualized dividend and a dividend yield of 6.44%. Veren’s dividend payout ratio is 24.29%.

Analyst Upgrades and Downgrades

Several brokerages have issued reports on VRN. Royal Bank of Canada decreased their price target on shares of Veren from $12.00 to $10.00 and set an “outperform” rating for the company in a research report on Friday, November 1st. Raymond James began coverage on shares of Veren in a research report on Friday, October 18th. They issued a “strong-buy” rating and a $13.00 price target for the company. Finally, Scotiabank decreased 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 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.