DGS Capital Management LLC Boosts Position in Veren Inc. (NYSE:VRN)

DGS Capital Management LLC increased its holdings in Veren Inc. (NYSE:VRN) by 302.3% in the fourth quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 76,814 shares of the company’s stock after acquiring an additional 57,719 shares during the quarter. DGS Capital Management LLC’s holdings in Veren were worth $395,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in the business. EverSource Wealth Advisors LLC bought a new position in Veren in the 2nd quarter worth $42,000. Arkadios Wealth Advisors purchased a new position in shares of Veren during the fourth quarter valued at about $59,000. DORCHESTER WEALTH MANAGEMENT Co bought a new position in Veren in the third quarter worth about $79,000. Oliver Lagore Vanvalin Investment Group purchased a new stake in Veren in the second quarter worth about $103,000. Finally, Canoe Financial LP purchased a new position in shares of Veren during the 4th quarter worth approximately $103,000. Hedge funds and other institutional investors own 49.37% of the company’s stock.

Veren Stock Performance

Shares of VRN opened at $5.28 on Friday. The company has a quick ratio of 0.88, a current ratio of 0.88 and a debt-to-equity ratio of 0.34. The stock has a market cap of $3.23 billion, a P/E ratio of 3.77 and a beta of 2.13. The business’s 50 day moving average price is $5.17 and its 200-day moving average price is $6.12. Veren Inc. has a 52 week low of $4.39 and a 52 week high of $9.28.

Veren (NYSE:VRN) last announced 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 company had revenue of $813.63 million for the quarter, compared to analysts’ expectations of $738.93 million. During the same quarter in the previous year, the firm posted $0.31 EPS. Equities research analysts anticipate that Veren Inc. will post 0.96 earnings per share for the current fiscal year.

Veren Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Thursday, January 2nd. Shareholders of record on Sunday, December 15th were paid a dividend of $0.085 per share. This is a positive change from Veren’s previous quarterly dividend of $0.08. This represents a $0.34 dividend on an annualized basis and a yield of 6.44%. The ex-dividend date of this dividend was Friday, December 13th. Veren’s dividend payout ratio (DPR) is currently 23.57%.

Wall Street Analyst Weigh In

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

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.