Veren (NYSE:VRN) Shares Gap Up – Here’s Why

Veren Inc. (NYSE:VRN) shares gapped up before the market opened on Monday . The stock had previously closed at $4.91, but opened at $5.59. Veren shares last traded at $5.57, with a volume of 13,268,003 shares changing hands.

Veren Trading Up 15.1 %

The company has a current ratio of 0.88, a quick ratio of 0.88 and a debt-to-equity ratio of 0.34. The stock has a market cap of $3.46 billion, a PE ratio of 4.03 and a beta of 2.08. The firm has a fifty day simple moving average of $5.22 and a two-hundred day simple moving average of $5.62.

Veren Cuts Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, April 1st. Stockholders of record on Saturday, March 15th will be issued a $0.0797 dividend. The ex-dividend date of this dividend is Friday, March 14th. This represents a $0.32 annualized dividend and a dividend yield of 5.64%. Veren’s dividend payout ratio is currently 100.00%.

Hedge Funds Weigh In On Veren

A number of institutional investors have recently bought and sold shares of VRN. EverSource Wealth Advisors LLC boosted its stake in Veren by 80.6% during the 4th quarter. EverSource Wealth Advisors LLC now owns 5,951 shares of the company’s stock valued at $31,000 after purchasing an additional 2,655 shares during the last quarter. Silvercrest Asset Management Group LLC purchased a new position in shares of Veren during the 4th quarter worth $54,000. State of Wyoming boosted its stake in Veren by 44.7% in the 4th quarter. State of Wyoming now owns 10,736 shares of the company’s stock worth $55,000 after purchasing an additional 3,319 shares during the period. Nebula Research & Development LLC bought a new stake in shares of Veren during the fourth quarter valued at approximately $56,000. Finally, Arkadios Wealth Advisors bought a new position in shares of Veren during the fourth quarter worth $59,000. 49.37% of the stock is owned by institutional investors.

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.