PCJ Investment Counsel Ltd. Buys 26,940 Shares of Veren Inc. (NYSE:VRN)

PCJ Investment Counsel Ltd. grew its stake in Veren Inc. (NYSE:VRN) by 36.1% in the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 101,610 shares of the company’s stock after purchasing an additional 26,940 shares during the period. PCJ Investment Counsel Ltd.’s holdings in Veren were worth $626,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also recently modified their holdings of VRN. Aigen Investment Management LP purchased a new stake in shares of Veren in the 3rd quarter worth $1,217,000. Entropy Technologies LP bought a new position in shares of Veren in the 3rd quarter worth $1,485,000. Versor Investments LP acquired a new position in Veren during the 3rd quarter valued at about $354,000. Easterly Investment Partners LLC increased its position in Veren by 15.0% during the 3rd quarter. Easterly Investment Partners LLC now owns 452,380 shares of the company’s stock valued at $2,782,000 after buying an additional 59,035 shares in the last quarter. Finally, Olympiad Research LP increased its position in Veren by 36.2% during the 3rd quarter. Olympiad Research LP now owns 29,088 shares of the company’s stock valued at $179,000 after buying an additional 7,724 shares in the last quarter. 49.37% of the stock is owned by institutional investors.

Veren Stock Down 0.9 %

Shares of VRN opened at $5.25 on Wednesday. Veren Inc. has a 52 week low of $4.90 and a 52 week 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 stock has a market capitalization of $3.23 billion, a P/E ratio of 3.79 and a beta of 2.17. The business has a 50-day moving average of $6.01.

Veren Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Thursday, January 2nd. Stockholders 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 of this dividend is Friday, December 13th. This represents a $0.34 dividend on an annualized basis and a dividend yield of 6.48%. Veren’s dividend payout ratio is presently 24.29%.

Wall Street Analysts Forecast Growth

Several research analysts recently issued reports on VRN shares. Raymond James started coverage on Veren in a research report on Friday, October 18th. They set a “strong-buy” rating and a $13.00 target price on the stock. Royal Bank of Canada dropped their price target 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 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.