Veren (NYSE:VRN) Shares Gap Down – Here’s What Happened

Veren Inc. (NYSE:VRN)’s share price gapped down prior to trading on Wednesday . The stock had previously closed at $5.16, but opened at $4.93. Veren shares last traded at $5.12, with a volume of 3,128,301 shares changing hands.

Veren Trading Up 2.0 %

The firm has a market cap of $3.22 billion, a PE ratio of 3.75 and a beta of 1.45. 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 business has a 50-day moving average price of $5.63 and a two-hundred day moving average price of $5.55.

Veren Cuts Dividend

The firm also recently announced a quarterly dividend, which was paid on Tuesday, April 1st. Shareholders of record on Saturday, March 15th were given a dividend of $0.0797 per share. This represents a $0.32 dividend on an annualized basis and a yield of 6.05%. The ex-dividend date of this dividend was Friday, March 14th. Veren’s payout ratio is currently 100.00%.

Institutional Trading of Veren

Several large investors have recently modified their holdings of the business. EverSource Wealth Advisors LLC grew its holdings in Veren by 80.6% during the 4th quarter. EverSource Wealth Advisors LLC now owns 5,951 shares of the company’s stock valued at $31,000 after buying an additional 2,655 shares during the last quarter. State of Wyoming lifted its position in shares of 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 in the last quarter. Vise Technologies Inc. boosted its stake in shares of Veren by 33.1% during 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. increased its position in Veren by 4.8% during the 4th quarter. Alliancebernstein L.P. now owns 101,460 shares of the company’s stock worth $522,000 after purchasing an additional 4,640 shares in the last quarter. Finally, Virtus ETF Advisers LLC lifted its holdings in Veren by 28.5% in the 4th quarter. Virtus ETF Advisers LLC now owns 27,462 shares of the company’s stock valued at $141,000 after purchasing an additional 6,088 shares in the last quarter. 49.37% of the stock is currently owned by institutional investors and hedge funds.

About Veren

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.