Veren Inc. (NYSE:VRN) Shares Sold by Crossmark Global Holdings Inc.

Crossmark Global Holdings Inc. reduced its stake in shares of Veren Inc. (NYSE:VRN) by 8.4% in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 958,445 shares of the company’s stock after selling 87,920 shares during the quarter. Crossmark Global Holdings Inc. owned about 0.16% of Veren worth $4,926,000 at the end of the most recent quarter.

Several other large investors have also recently added to or reduced their stakes in VRN. Barclays PLC grew its position in shares of Veren by 313.7% during the third quarter. Barclays PLC now owns 132,245 shares of the company’s stock worth $813,000 after acquiring an additional 100,279 shares during the last quarter. Intact Investment Management Inc. grew its position in Veren by 46.7% in the 3rd quarter. Intact Investment Management Inc. now owns 5,458,686 shares of the company’s stock worth $33,624,000 after purchasing an additional 1,737,840 shares during the last quarter. Principal Financial Group Inc. increased its stake in shares of Veren by 19.3% in the third quarter. Principal Financial Group Inc. now owns 4,038,140 shares of the company’s stock valued at $24,899,000 after purchasing an additional 653,300 shares during the period. The Manufacturers Life Insurance Company bought a new stake in shares of Veren during the second quarter valued at approximately $28,162,000. Finally, Toronto Dominion Bank raised its stake in Veren by 302.4% during the 3rd quarter. Toronto Dominion Bank now owns 553,902 shares of the company’s stock valued at $3,406,000 after acquiring an additional 416,265 shares in the last quarter. 49.37% of the stock is owned by institutional investors and hedge funds.

Veren Trading Up 0.6 %

Shares of NYSE:VRN opened at $5.49 on Wednesday. The firm has a fifty day moving average of $5.15 and a two-hundred day moving average of $6.18. The company has a quick ratio of 0.88, a current ratio of 0.88 and a debt-to-equity ratio of 0.34. Veren Inc. has a 12-month low of $4.39 and a 12-month high of $9.28. The firm has a market capitalization of $3.36 billion, a P/E ratio of 3.92 and a beta of 2.13.

Veren (NYSE:VRN) last released its quarterly earnings data on Thursday, October 31st. The company reported $0.21 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.25 by ($0.04). Veren had a net margin of 26.93% and a return on equity of 12.23%. The firm had revenue of $813.63 million for the quarter, compared to analyst estimates of $738.93 million. During the same period in the previous year, the business posted $0.31 EPS. On average, equities analysts expect that Veren Inc. will post 0.97 EPS for the current fiscal year.

Veren Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Thursday, January 2nd. Investors of record on Sunday, December 15th were issued a $0.085 dividend. The ex-dividend date was Friday, December 13th. This represents a $0.34 dividend on an annualized basis and a yield of 6.20%. This is an increase from Veren’s previous quarterly dividend of $0.08. Veren’s dividend payout ratio is currently 23.57%.

Wall Street Analyst Weigh In

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

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.