Mitsubishi UFJ Trust & Banking Corp Buys 60,700 Shares of Veren Inc. (NYSE:VRN)

Mitsubishi UFJ Trust & Banking Corp boosted its stake in shares of Veren Inc. (NYSE:VRN) by 32.3% in the fourth quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 248,384 shares of the company’s stock after buying an additional 60,700 shares during the period. Mitsubishi UFJ Trust & Banking Corp’s holdings in Veren were worth $1,277,000 at the end of the most recent reporting period.

Other large investors have also added to or reduced their stakes in the company. Charles Schwab Investment Management Inc. raised its holdings in Veren by 2.8% in the third quarter. Charles Schwab Investment Management Inc. now owns 1,860,312 shares of the company’s stock worth $11,470,000 after buying an additional 50,997 shares during the last quarter. Bridgewater Associates LP bought a new stake in shares of Veren during the third quarter valued at approximately $125,000. HighTower Advisors LLC raised its holdings in Veren by 139.4% in the 3rd quarter. HighTower Advisors LLC now owns 111,112 shares of the company’s stock worth $685,000 after acquiring an additional 64,707 shares during the last quarter. HITE Hedge Asset Management LLC bought a new position in Veren in the 3rd quarter valued at approximately $65,155,000. Finally, Invenomic Capital Management LP boosted its stake in Veren by 75.6% during the 3rd quarter. Invenomic Capital Management LP now owns 1,539,359 shares of the company’s stock valued at $9,467,000 after purchasing an additional 662,628 shares during the last quarter. Hedge funds and other institutional investors own 49.37% of the company’s stock.

Veren Stock Down 0.1 %

VRN stock opened at $6.62 on Wednesday. The stock has a market capitalization of $4.05 billion, a P/E ratio of 4.73 and a beta of 2.08. The company has a debt-to-equity ratio of 0.34, a current ratio of 0.88 and a quick ratio of 0.88. Veren Inc. has a 1-year low of $4.40 and a 1-year high of $9.02. The business has a fifty day moving average price of $5.58 and a 200-day moving average price of $5.57.

Veren Cuts Dividend

The firm also recently announced a quarterly dividend, which was paid on Tuesday, April 1st. Shareholders of record on Saturday, March 15th were given a $0.0797 dividend. This represents a $0.32 dividend on an annualized basis and a yield of 4.82%. The ex-dividend date was Friday, March 14th. Veren’s dividend payout ratio (DPR) is 100.00%.

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.