334,415 Shares in Veren Inc. (NYSE:VRN) Bought by Mackenzie Financial Corp

Mackenzie Financial Corp bought a new stake in Veren Inc. (NYSE:VRN) during the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor bought 334,415 shares of the company’s stock, valued at approximately $2,638,000. Mackenzie Financial Corp owned about 0.05% of Veren as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds have also made changes to their positions in the company. CIBC Asset Management Inc purchased a new stake in shares of Veren in the 2nd quarter worth about $155,853,000. Bank of Montreal Can purchased a new stake in shares of Veren in the second quarter valued at about $105,665,000. Dimensional Fund Advisors LP acquired a new stake in shares of Veren in the second quarter valued at approximately $79,409,000. Millennium Management LLC acquired a new stake in shares of Veren in the second quarter valued at approximately $74,306,000. Finally, Encompass Capital Advisors LLC purchased a new position in shares of Veren during the 2nd quarter worth approximately $40,900,000. Hedge funds and other institutional investors own 49.37% of the company’s stock.

Veren Stock Performance

Shares of NYSE VRN opened at $6.42 on Thursday. The firm has a market capitalization of $3.97 billion, a price-to-earnings ratio of -80.19 and a beta of 2.16. The company has a debt-to-equity ratio of 0.36, a quick ratio of 0.49 and a current ratio of 0.49. Veren Inc. has a 1 year low of $6.03 and a 1 year high of $9.28. The stock’s 50 day moving average price is $6.86.

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

Veren Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Tuesday, October 1st. Investors of record on Sunday, September 15th were given a $0.0834 dividend. The ex-dividend date was Friday, September 13th. This is a boost from Veren’s previous quarterly dividend of $0.08. This represents a $0.33 annualized dividend and a dividend yield of 5.20%. Veren’s dividend payout ratio (DPR) is currently -412.50%.

Wall Street Analysts Forecast Growth

Separately, Scotiabank lowered their target price on Veren from $16.00 to $15.00 and set a “sector outperform” rating on the stock in a 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.