Veren (NYSE:VRN) Sees Strong Trading Volume – Should You Buy?

Shares of Veren Inc. (NYSE:VRN) saw unusually-high trading volume on Wednesday . Approximately 11,679,521 shares traded hands during trading, an increase of 44% from the previous session’s volume of 8,135,834 shares.The stock last traded at $5.98 and had previously closed at $5.86.

Veren Price Performance

The company has a debt-to-equity ratio of 0.34, a current ratio of 0.88 and a quick ratio of 0.88. The company’s 50 day moving average price is $5.28 and its 200 day moving average price is $5.61. The firm has a market capitalization of $3.74 billion, a P/E ratio of 4.36 and a beta of 2.08.

Veren Cuts Dividend

The business also recently declared a quarterly dividend, which will be paid on Tuesday, April 1st. Stockholders of record on Saturday, March 15th will be paid a dividend of $0.0797 per share. The ex-dividend date is Friday, March 14th. This represents a $0.32 annualized dividend and a dividend yield of 5.22%. Veren’s dividend payout ratio (DPR) is currently 100.00%.

Institutional Trading of Veren

Several hedge funds have recently modified their holdings of the stock. EverSource Wealth Advisors LLC grew its stake in shares of Veren by 80.6% during the fourth quarter. EverSource Wealth Advisors LLC now owns 5,951 shares of the company’s stock valued at $31,000 after purchasing an additional 2,655 shares during the last quarter. State of Wyoming boosted its stake in Veren by 44.7% in the fourth quarter. State of Wyoming now owns 10,736 shares of the company’s stock valued at $55,000 after acquiring an additional 3,319 shares during the last quarter. Vise Technologies Inc. boosted its stake in Veren by 33.1% in the fourth quarter. Vise Technologies Inc. now owns 13,722 shares of the company’s stock valued at $71,000 after acquiring an additional 3,412 shares during the last quarter. Alliancebernstein L.P. boosted its stake in Veren by 4.8% in the fourth quarter. Alliancebernstein L.P. now owns 101,460 shares of the company’s stock valued at $522,000 after acquiring an additional 4,640 shares during the last quarter. Finally, Virtus ETF Advisers LLC boosted its stake in Veren by 28.5% in the fourth quarter. Virtus ETF Advisers LLC now owns 27,462 shares of the company’s stock valued at $141,000 after acquiring an additional 6,088 shares during the last quarter. 49.37% of the stock is owned by institutional investors.

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.