Veren Inc. (NYSE:VRN) Short Interest Down 19.9% in December

Veren Inc. (NYSE:VRN) was the recipient of a large decrease in short interest during the month of December. As of December 31st, there was short interest totalling 13,560,000 shares, a decrease of 19.9% from the December 15th total of 16,930,000 shares. Based on an average trading volume of 8,240,000 shares, the days-to-cover ratio is presently 1.6 days. Approximately 2.3% of the company’s shares are sold short.

Analyst Ratings Changes

Several research analysts have recently commented on VRN shares. Royal Bank of Canada lowered their price target on Veren from $12.00 to $10.00 and set an “outperform” rating for the company in a research report on Friday, November 1st. Raymond James began coverage on Veren in a research note on Friday, October 18th. They set a “strong-buy” rating and a $13.00 target price on the stock.

Veren Stock Down 0.6 %

VRN traded down $0.04 during trading hours on Friday, hitting $5.46. 19,423,157 shares of the company’s stock were exchanged, compared to its average volume of 15,783,801. The firm has a market cap of $3.35 billion, a P/E ratio of 3.90 and a beta of 2.13. Veren has a 12-month low of $4.39 and a 12-month high of $9.28. The company has a current ratio of 0.88, a quick ratio of 0.88 and a debt-to-equity ratio of 0.34. The firm has a 50 day moving average of $5.14 and a 200 day moving average of $6.24.

Veren Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Thursday, January 2nd. Stockholders of record on Sunday, December 15th were given a dividend of $0.085 per share. The ex-dividend date of this dividend was Friday, December 13th. This represents a $0.34 dividend on an annualized basis and a dividend yield of 6.23%. This is a positive change from Veren’s previous quarterly dividend of $0.08. Veren’s dividend payout ratio is currently 23.57%.

Institutional Trading of Veren

Several hedge funds have recently modified their holdings of the stock. Ninepoint Partners LP acquired a new stake in Veren in the 2nd quarter valued at about $125,920,000. Bank of Montreal Can purchased a new stake in shares of Veren during the second quarter worth approximately $105,665,000. HITE Hedge Asset Management LLC purchased a new stake in shares of Veren during the third quarter worth approximately $65,155,000. Dimensional Fund Advisors LP acquired a new stake in Veren in the second quarter valued at approximately $79,409,000. Finally, Millennium Management LLC purchased a new position in Veren in the second quarter worth approximately $74,306,000. 49.37% of the stock is currently owned by institutional investors and hedge funds.

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.