Veren Target of Unusually Large Options Trading (NYSE:VRN)

Veren Inc. (NYSE:VRN) was the recipient of some unusual options trading on Monday. Investors bought 5,760 call options on the company. This is an increase of 693% compared to the average volume of 726 call options.

Veren Trading Up 17.5 %

Shares of NYSE:VRN traded up $0.86 during midday trading on Monday, hitting $5.77. 24,432,319 shares of the stock were exchanged, compared to its average volume of 7,762,659. The business’s 50-day moving average price is $5.22 and its 200 day moving average price is $5.62. Veren has a 12 month low of $4.40 and a 12 month high of $9.02. The company has a debt-to-equity ratio of 0.34, a quick ratio of 0.88 and a current ratio of 0.88. The stock has a market capitalization of $3.53 billion, a price-to-earnings ratio of 4.13 and a beta of 2.08.

Veren Cuts Dividend

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, April 1st. Shareholders of record on Saturday, March 15th will be issued a dividend of $0.0797 per share. This represents a $0.32 dividend on an annualized basis and a yield of 5.52%. The ex-dividend date of this dividend is Friday, March 14th. Veren’s payout ratio is 100.00%.

Hedge Funds Weigh In On Veren

Institutional investors and hedge funds have recently added to or reduced their stakes in the business. EverSource Wealth Advisors LLC grew its stake in shares of Veren by 80.6% in the fourth quarter. EverSource Wealth Advisors LLC now owns 5,951 shares of the company’s stock worth $31,000 after purchasing an additional 2,655 shares during the last quarter. Silvercrest Asset Management Group LLC acquired a new position in Veren during the 4th quarter worth about $54,000. State of Wyoming grew its position in shares of Veren by 44.7% in the 4th quarter. State of Wyoming now owns 10,736 shares of the company’s stock valued at $55,000 after buying an additional 3,319 shares during the last quarter. Nebula Research & Development LLC acquired a new stake in shares of Veren in the fourth quarter valued at about $56,000. Finally, Arkadios Wealth Advisors bought a new position in shares of Veren during the fourth quarter worth about $59,000. 49.37% of the stock is currently owned by institutional investors and hedge funds.

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.