Veren Inc. (NYSE:VRN) Stake Raised by Gagnon Securities LLC

Gagnon Securities LLC raised its position in shares of Veren Inc. (NYSE:VRN) by 44.2% in the fourth quarter, Holdings Channel reports. The firm owned 1,086,791 shares of the company’s stock after buying an additional 333,270 shares during the period. Veren accounts for 1.1% of Gagnon Securities LLC’s investment portfolio, making the stock its 28th largest holding. Gagnon Securities LLC’s holdings in Veren were worth $5,586,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds and other institutional investors also recently made changes to their positions in VRN. HITE Hedge Asset Management LLC bought a new position in shares of Veren during the 3rd quarter worth approximately $65,155,000. Intact Investment Management Inc. raised its position in shares of Veren by 46.7% during the third quarter. Intact Investment Management Inc. now owns 5,458,686 shares of the company’s stock worth $33,624,000 after acquiring an additional 1,737,840 shares during the last quarter. Wexford Capital LP acquired a new stake in shares of Veren during the third quarter worth $9,322,000. Capital Management Corp VA grew its stake in shares of Veren by 92.1% during the third quarter. Capital Management Corp VA now owns 3,124,775 shares of the company’s stock worth $19,217,000 after purchasing an additional 1,498,544 shares during the period. Finally, Foundry Partners LLC acquired a new position in Veren in the third quarter valued at about $6,734,000. 49.37% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

Several research firms have recently weighed in on VRN. Raymond James started coverage on Veren in a research report on Friday, October 18th. They set a “strong-buy” rating and a $13.00 price objective for the company. Royal Bank of Canada dropped their price objective on Veren from $12.00 to $10.00 and set an “outperform” rating on the stock in a research note on Friday, November 1st.

Veren Stock Down 3.9 %

Shares of NYSE:VRN opened at $5.05 on Friday. The business has a fifty day simple moving average of $5.15 and a 200 day simple moving average of $6.06. Veren Inc. has a 12-month low of $4.39 and a 12-month high of $9.28. The company has a quick ratio of 0.88, a current ratio of 0.88 and a debt-to-equity ratio of 0.34. The firm has a market cap of $3.09 billion, a P/E ratio of 3.60 and a beta of 2.13.

Veren (NYSE:VRN) last issued its earnings results on Thursday, October 31st. The company reported $0.21 EPS for the quarter, missing the consensus estimate of $0.25 by ($0.04). The firm had revenue of $813.63 million during the quarter, compared to analyst estimates of $738.93 million. Veren had a net margin of 26.93% and a return on equity of 12.23%. During the same quarter in the prior year, the business earned $0.31 earnings per share. Analysts predict that Veren Inc. will post 0.94 earnings per share for the current year.

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.