Everstar Asset Management LLC Sells 45,591 Shares of Veren Inc. (NYSE:VRN)

Everstar Asset Management LLC lowered its position in Veren Inc. (NYSE:VRN) by 77.7% during the fourth quarter, according to its most recent Form 13F filing with the SEC. The fund owned 13,056 shares of the company’s stock after selling 45,591 shares during the period. Everstar Asset Management LLC’s holdings in Veren were worth $67,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in VRN. Orion Portfolio Solutions LLC bought a new stake in Veren in the fourth quarter worth approximately $71,000. Pictet Asset Management Holding SA lifted its stake in shares of Veren by 15.1% in the 4th quarter. Pictet Asset Management Holding SA now owns 105,828 shares of the company’s stock valued at $544,000 after purchasing an additional 13,847 shares during the last quarter. Easterly Investment Partners LLC boosted its holdings in Veren by 56.7% in the fourth quarter. Easterly Investment Partners LLC now owns 709,045 shares of the company’s stock worth $3,644,000 after purchasing an additional 256,665 shares in the last quarter. JPMorgan Chase & Co. increased its position in Veren by 58.1% during the fourth quarter. JPMorgan Chase & Co. now owns 412,447 shares of the company’s stock worth $2,120,000 after buying an additional 151,489 shares during the last quarter. Finally, Mitsubishi UFJ Trust & Banking Corp raised its holdings in Veren by 32.3% during the fourth quarter. Mitsubishi UFJ Trust & Banking Corp now owns 248,384 shares of the company’s stock valued at $1,277,000 after buying an additional 60,700 shares in the last quarter. Institutional investors own 49.37% of the company’s stock.

Veren Price Performance

Shares of NYSE:VRN opened at $6.62 on Tuesday. 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 stock has a market capitalization of $4.05 billion, a P/E ratio of 4.73 and a beta of 2.08. The business has a 50-day moving average of $5.56 and a two-hundred day moving average of $5.57. Veren Inc. has a fifty-two week low of $4.40 and a fifty-two week high of $9.02.

Veren Cuts Dividend

The business also recently announced a quarterly dividend, which will be paid on Tuesday, April 1st. Investors of record on Saturday, March 15th will be issued a $0.0797 dividend. The ex-dividend date of this dividend is Friday, March 14th. This represents a $0.32 annualized dividend and a yield of 4.82%. 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.