Franklin Resources Inc. Reduces Holdings in Veren Inc. (NYSE:VRN)

Franklin Resources Inc. lowered its position in shares of Veren Inc. (NYSE:VRN) by 3.7% during the fourth quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 24,730,050 shares of the company’s stock after selling 940,184 shares during the period. Franklin Resources Inc. owned about 4.04% of Veren worth $126,982,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also made changes to their positions in VRN. EverSource Wealth Advisors LLC increased its position in Veren by 80.6% during the fourth quarter. EverSource Wealth Advisors LLC now owns 5,951 shares of the company’s stock worth $31,000 after buying an additional 2,655 shares during the period. Arkadios Wealth Advisors purchased a new stake in Veren in the 4th quarter valued at $59,000. Orion Portfolio Solutions LLC acquired a new stake in Veren during the 4th quarter worth $71,000. Truist Financial Corp purchased a new position in Veren during the 4th quarter worth $76,000. Finally, Seven Mile Advisory acquired a new position in Veren in the fourth quarter valued at $77,000. 49.37% of the stock is owned by hedge funds and other institutional investors.

Veren Price Performance

Shares of VRN opened at $6.66 on Thursday. 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 fifty-two week low of $4.40 and a fifty-two week high of $9.02. The firm has a 50-day simple moving average of $5.60 and a 200-day simple moving average of $5.58. The company has a market capitalization of $4.07 billion, a price-to-earnings ratio of 4.76 and a beta of 2.08.

Veren Cuts Dividend

The business also recently announced a quarterly dividend, which was paid on Tuesday, April 1st. Shareholders of record on Saturday, March 15th were paid a $0.0797 dividend. The ex-dividend date was Friday, March 14th. This represents a $0.32 annualized dividend and a dividend yield of 4.78%. Veren’s dividend payout ratio (DPR) is currently 100.00%.

Veren 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.