Vanguard Personalized Indexing Management LLC Takes $551,000 Position in Veren Inc. (NYSE:VRN)

Vanguard Personalized Indexing Management LLC purchased a new position in shares of Veren Inc. (NYSE:VRN) in the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm purchased 70,577 shares of the company’s stock, valued at approximately $551,000.

Several other institutional investors have also made changes to their positions in VRN. CIBC Asset Management Inc purchased a new stake in Veren in the 2nd quarter worth approximately $155,853,000. Dimensional Fund Advisors LP acquired a new position in shares of Veren in the second quarter worth $79,409,000. American Century Companies Inc. purchased a new stake in shares of Veren during the second quarter worth $32,076,000. TD Asset Management Inc acquired a new stake in Veren during the second quarter valued at $30,556,000. Finally, Intact Investment Management Inc. purchased a new position in Veren in the second quarter valued at about $29,344,000. 49.37% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Separately, Scotiabank cut their price target 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 Performance

Shares of VRN opened at $6.07 on Friday. The company has a debt-to-equity ratio of 0.36, a quick ratio of 0.49 and a current ratio of 0.49. The company has a market capitalization of $3.76 billion, a price-to-earnings ratio of -75.88 and a beta of 2.16. The company’s 50 day simple moving average is $7.02. Veren Inc. has a twelve month low of $6.03 and a twelve month high of $9.28.

Veren (NYSE:VRN) last released its quarterly earnings results on Thursday, July 25th. The company reported $0.28 earnings per share for the quarter, meeting analysts’ consensus estimates of $0.28. Veren had a negative net margin of 0.69% and a positive return on equity of 13.50%. The business had revenue of $852.57 million for the quarter, compared to the consensus estimate of $821.00 million. On average, sell-side analysts anticipate that Veren Inc. will post 1 earnings per share for the current fiscal year.

Veren Increases Dividend

The business 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. 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 5.50%. The ex-dividend date of this dividend is Friday, September 13th. Veren’s dividend payout ratio (DPR) is -412.50%.

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.