DGS Capital Management LLC Sells 8,199 Shares of Veren Inc. (NYSE:VRN)

DGS Capital Management LLC lowered its holdings in Veren Inc. (NYSE:VRN) by 30.0% during the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 19,095 shares of the company’s stock after selling 8,199 shares during the period. DGS Capital Management LLC’s holdings in Veren were worth $117,000 as of its most recent SEC filing.

A number of other institutional investors have also recently bought and sold shares of VRN. SG Americas Securities LLC purchased a new position in shares of Veren in the 2nd quarter worth about $293,000. Fifth Third Bancorp purchased a new stake in shares of Veren during the 2nd quarter worth approximately $85,000. Penbrook Management LLC bought a new stake in shares of Veren in the 2nd quarter worth approximately $3,723,000. Easterly Investment Partners LLC purchased a new position in Veren in the second quarter valued at approximately $3,096,000. Finally, Bank of New York Mellon Corp bought a new position in Veren during the second quarter valued at $1,331,000. Institutional investors own 49.37% of the company’s stock.

Wall Street Analysts Forecast Growth

Several analysts have issued reports on the company. Royal Bank of Canada lowered their target price on Veren from $12.00 to $10.00 and set an “outperform” rating on the stock in a research note on Friday, November 1st. Raymond James started coverage on shares of Veren in a report on Friday, October 18th. They set a “strong-buy” rating and a $13.00 price objective on the stock.

Veren Stock Down 1.0 %

Veren stock opened at $4.86 on Friday. The firm has a 50 day simple moving average of $5.56 and a 200 day simple moving average of $6.72. The company has a current ratio of 0.88, a quick ratio of 0.88 and a debt-to-equity ratio of 0.34. Veren Inc. has a 1-year low of $4.82 and a 1-year high of $9.28. The firm has a market capitalization of $2.99 billion, a price-to-earnings ratio of 3.47 and a beta of 2.16.

Veren Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Thursday, January 2nd. Stockholders of record on Sunday, December 15th will be given a $0.085 dividend. The ex-dividend date of this dividend is Friday, December 13th. This is a boost from Veren’s previous quarterly dividend of $0.08. This represents a $0.34 annualized dividend and a dividend yield of 7.00%. Veren’s payout ratio is 24.29%.

Veren 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.