Capital Management Corp VA Has $19.22 Million Stock Holdings in Veren Inc. (NYSE:VRN)

Capital Management Corp VA lifted its stake in Veren Inc. (NYSE:VRN) by 92.1% in the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 3,124,775 shares of the company’s stock after acquiring an additional 1,498,544 shares during the period. Veren makes up about 3.4% of Capital Management Corp VA’s holdings, making the stock its 9th largest holding. Capital Management Corp VA owned 0.51% of Veren worth $19,217,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other large investors have also recently made changes to their positions in VRN. CIBC Asset Management Inc bought a new position in shares of Veren in the second quarter worth $155,853,000. Ninepoint Partners LP bought a new stake in Veren during the second quarter valued at $125,920,000. Bank of Montreal Can bought a new stake in Veren during the second quarter valued at $105,665,000. Dimensional Fund Advisors LP bought a new stake in Veren during the second quarter valued at $79,409,000. Finally, Millennium Management LLC bought a new stake in Veren during the second quarter valued at $74,306,000. 49.37% of the stock is owned by institutional investors.

Veren Trading Up 3.2 %

VRN opened at $5.13 on Tuesday. The business has a 50-day moving average of $6.34. 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 12 month low of $4.90 and a 12 month high of $9.28. The stock has a market capitalization of $3.16 billion, a P/E ratio of 3.66 and a beta of 2.17.

Veren Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Thursday, January 2nd. Shareholders of record on Sunday, December 15th will be paid a $0.085 dividend. This is a boost from Veren’s previous quarterly dividend of $0.08. This represents a $0.34 dividend on an annualized basis and a yield of 6.63%. The ex-dividend date is Friday, December 13th. Veren’s payout ratio is 24.29%.

Analysts Set New Price Targets

VRN has been the topic of a number of research reports. Scotiabank lowered their price target on Veren from $16.00 to $15.00 and set a “sector outperform” rating on the stock in a research report on Friday, July 12th. Royal Bank of Canada lowered their price target on Veren from $12.00 to $10.00 and set an “outperform” rating on the stock in a research report on Friday. Finally, Raymond James initiated coverage on Veren in a research report on Friday, October 18th. They set a “strong-buy” rating and a $13.00 price target on the stock.

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.