Public Employees Retirement System of Ohio Acquires Shares of 286,979 Veren Inc. (NYSE:VRN)

Public Employees Retirement System of Ohio bought a new position in shares of Veren Inc. (NYSE:VRN) in the third quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm bought 286,979 shares of the company’s stock, valued at approximately $1,769,000.

A number of other institutional investors also recently modified their holdings of the business. CIBC Asset Management Inc bought a new position in Veren in the 2nd quarter valued at about $155,853,000. Ninepoint Partners LP acquired a new stake in shares of Veren during the 2nd quarter worth approximately $125,920,000. Bank of Montreal Can bought a new position in Veren in the second quarter valued at approximately $105,665,000. HITE Hedge Asset Management LLC acquired a new position in Veren during the third quarter valued at approximately $65,155,000. Finally, Dimensional Fund Advisors LP bought a new stake in Veren during the second quarter worth $79,409,000. Institutional investors own 49.37% of the company’s stock.

Veren Stock Performance

NYSE VRN opened at $4.49 on Thursday. The firm’s fifty day moving average price is $5.44 and its two-hundred day moving average price is $6.62. The stock has a market cap of $2.76 billion, a PE ratio of 3.21 and a beta of 2.16. The company has a debt-to-equity ratio of 0.34, a quick ratio of 0.88 and a current ratio of 0.88. Veren Inc. has a fifty-two week low of $4.47 and a fifty-two week high of $9.28.

Veren Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, January 2nd. Investors 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 represents a $0.34 dividend on an annualized basis and a yield of 7.57%. This is a positive change from Veren’s previous quarterly dividend of $0.08. Veren’s payout ratio is currently 24.29%.

Analyst Ratings Changes

A number of equities analysts have recently commented on VRN shares. Raymond James started coverage on Veren in a report on Friday, October 18th. They set a “strong-buy” rating and a $13.00 price target for the company. Royal Bank of Canada lowered their target price on Veren from $12.00 to $10.00 and set an “outperform” rating for the company in a research note on Friday, November 1st.

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.