FourThought Financial Partners LLC Takes $168,000 Position in Veren Inc. (NYSE:VRN)

FourThought Financial Partners LLC purchased a new position in Veren Inc. (NYSE:VRN) during the fourth quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor purchased 32,644 shares of the company’s stock, valued at approximately $168,000.

Several other hedge funds have also recently bought and sold shares of VRN. HITE Hedge Asset Management LLC purchased a new stake in Veren during the third quarter worth $65,155,000. Intact Investment Management Inc. raised its stake in shares of Veren by 46.7% during the 3rd quarter. Intact Investment Management Inc. now owns 5,458,686 shares of the company’s stock worth $33,624,000 after buying an additional 1,737,840 shares during the last quarter. Principal Financial Group Inc. boosted its position in shares of Veren by 3.9% in the 4th quarter. Principal Financial Group Inc. now owns 4,196,340 shares of the company’s stock worth $21,562,000 after buying an additional 158,200 shares in the last quarter. The Manufacturers Life Insurance Company grew its stake in Veren by 11.2% in the 3rd quarter. The Manufacturers Life Insurance Company now owns 3,975,885 shares of the company’s stock valued at $24,505,000 after acquiring an additional 400,068 shares during the last quarter. Finally, Capital Management Corp VA increased its holdings in Veren by 92.1% during the 3rd quarter. Capital Management Corp VA now owns 3,124,775 shares of the company’s stock valued at $19,217,000 after acquiring an additional 1,498,544 shares in the last quarter. 49.37% of the stock is owned by hedge funds and other institutional investors.

Veren Price Performance

Shares of NYSE:VRN opened at $4.82 on Thursday. 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 business’s fifty day moving average price is $5.19 and its two-hundred day moving average price is $5.74. The stock has a market cap of $2.95 billion, a PE ratio of 3.44 and a beta of 2.10. Veren Inc. has a one year low of $4.39 and a one year high of $9.28.

Wall Street Analysts Forecast Growth

Separately, Royal Bank of Canada reduced their price target on shares of Veren from $12.00 to $10.00 and set an “outperform” rating on the stock in a report on Friday, November 1st.

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.