Aigen Investment Management LP Makes New Investment in Veren Inc. (NYSE:VRN)

Aigen Investment Management LP acquired a new position in shares of Veren Inc. (NYSE:VRN) in the third quarter, Holdings Channel.com reports. The institutional investor acquired 197,662 shares of the company’s stock, valued at approximately $1,217,000.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in the stock. Entropy Technologies LP bought a new stake in Veren during the 3rd quarter worth approximately $1,485,000. Versor Investments LP purchased a new position in shares of Veren in the 3rd quarter worth approximately $354,000. Easterly Investment Partners LLC boosted its stake in shares of Veren by 15.0% in the 3rd quarter. Easterly Investment Partners LLC now owns 452,380 shares of the company’s stock worth $2,782,000 after buying an additional 59,035 shares during the last quarter. Olympiad Research LP boosted its stake in shares of Veren by 36.2% in the 3rd quarter. Olympiad Research LP now owns 29,088 shares of the company’s stock worth $179,000 after buying an additional 7,724 shares during the last quarter. Finally, Principal Financial Group Inc. boosted its stake in shares of Veren by 19.3% in the 3rd quarter. Principal Financial Group Inc. now owns 4,038,140 shares of the company’s stock worth $24,899,000 after buying an additional 653,300 shares during the last quarter. 49.37% of the stock is owned by institutional investors.

Veren Trading Down 1.0 %

Veren stock opened at $5.16 on Wednesday. Veren Inc. has a 12 month low of $4.90 and a 12 month high of $9.28. The company has a current ratio of 0.88, a quick ratio of 0.88 and a debt-to-equity ratio of 0.34. The firm has a 50 day moving average price of $6.14. The stock has a market capitalization of $3.18 billion, a P/E ratio of 3.69 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. Investors of record on Sunday, December 15th will be paid a $0.085 dividend. This is an increase from Veren’s previous quarterly dividend of $0.08. The ex-dividend date is Friday, December 13th. This represents a $0.34 annualized dividend and a yield of 6.59%. Veren’s dividend payout ratio is presently 24.29%.

Wall Street Analyst Weigh In

VRN has been the topic of a number of research analyst reports. Royal Bank of Canada cut their target price on Veren from $12.00 to $10.00 and set an “outperform” rating on the stock in a research note on Friday, November 1st. Raymond James initiated coverage on Veren in a research note on Friday, October 18th. They issued a “strong-buy” rating and a $13.00 target price on the stock.

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.