Veren Inc. (NYSE:VRN) Increases Dividend to $0.08 Per Share

Veren Inc. (NYSE:VRN) declared a quarterly dividend on Friday, July 26th, Wall Street Journal reports. Investors of record on Sunday, September 15th will be paid a dividend of 0.0834 per share on Tuesday, October 1st. This represents a $0.33 dividend on an annualized basis and a yield of 4.42%. The ex-dividend date of this dividend is Friday, September 13th. This is a boost from Veren’s previous quarterly dividend of $0.08.

Veren Trading Up 1.9 %

Shares of VRN opened at $7.54 on Friday. Veren has a 12 month low of $6.03 and a 12 month high of $9.28. The company’s fifty day simple moving average is $7.97. The company has a current ratio of 1.03, a quick ratio of 1.03 and a debt-to-equity ratio of 0.50. The stock has a market cap of $4.66 billion, a P/E ratio of -94.25 and a beta of 2.17.

Veren (NYSE:VRN) last released its quarterly earnings data on Friday, May 10th. The company reported $0.22 EPS for the quarter, hitting the consensus estimate of $0.22. Veren had a positive return on equity of 13.55% and a negative net margin of 0.69%. The company had revenue of $821.82 million during the quarter, compared to the consensus estimate of $779.78 million. As a group, research analysts forecast that Veren will post 1.07 EPS for the current year.

Analysts Set New Price Targets

Separately, Scotiabank decreased their price objective on shares of Veren from $16.00 to $15.00 and set a “sector outperform” rating for the company 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.