CIBC Asset Management Inc Has $32.70 Million Stock Holdings in Veren Inc. (NYSE:VRN)

CIBC Asset Management Inc decreased its stake in shares of Veren Inc. (NYSE:VRN) by 59.3% during the 4th quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 6,375,865 shares of the company’s stock after selling 9,280,439 shares during the period. CIBC Asset Management Inc owned 1.04% of Veren worth $32,704,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also added to or reduced their stakes in the stock. Arkadios Wealth Advisors bought a new position in shares of Veren in the fourth quarter worth about $59,000. DORCHESTER WEALTH MANAGEMENT Co bought a new position in Veren in the 3rd quarter worth approximately $79,000. Blue Trust Inc. bought a new position in Veren in the 3rd quarter worth approximately $104,000. Wilmington Savings Fund Society FSB acquired a new position in Veren during the 3rd quarter worth $108,000. Finally, Canoe Financial LP bought a new position in Veren in the 4th quarter valued at $103,000. Institutional investors and hedge funds own 49.37% of the company’s stock.

Veren Trading Down 0.5 %

VRN opened at $5.24 on Tuesday. The firm has a 50 day simple moving average of $5.15 and a 200 day simple moving average of $5.84. Veren Inc. has a fifty-two week low of $4.39 and a fifty-two week high of $9.28. The company has a market cap of $3.21 billion, a price-to-earnings ratio of 3.74 and a beta of 2.10. The company has a debt-to-equity ratio of 0.34, a current ratio of 0.88 and a quick ratio of 0.88.

Wall Street Analyst Weigh In

Separately, Royal Bank of Canada dropped their target price on Veren from $12.00 to $10.00 and set an “outperform” rating for the company in a research report on Friday, November 1st.

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.