Veren (NYSE:VRN) Hits New 1-Year Low – Time to Sell?

Veren Inc. (NYSE:VRN)’s share price hit a new 52-week low during trading on Friday . The company traded as low as $4.86 and last traded at $4.86, with a volume of 192214 shares trading hands. The stock had previously closed at $4.91.

Analysts Set New Price Targets

A number of equities analysts recently commented on VRN shares. Royal Bank of Canada decreased their target price on Veren from $12.00 to $10.00 and set an “outperform” rating for the company in a report on Friday, November 1st. Raymond James started coverage on Veren in a report on Friday, October 18th. They set a “strong-buy” rating and a $13.00 target price for the company.

Veren Stock Performance

The stock has a market capitalization of $2.98 billion, a PE ratio of 3.57 and a beta of 2.16. The business has a 50 day moving average price of $5.60 and a 200 day moving average price of $6.74. 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 Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, January 2nd. Investors of record on Sunday, December 15th will be given a dividend of $0.085 per share. 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 7.02%. Veren’s dividend payout ratio (DPR) is 24.29%.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently bought and sold shares of VRN. SG Americas Securities LLC bought a new stake in Veren during the 2nd quarter valued at approximately $293,000. Dynamic Advisor Solutions LLC purchased a new stake in shares of Veren during the second quarter valued at about $234,000. Fifth Third Bancorp purchased a new stake in shares of Veren during the second quarter valued at about $85,000. Penbrook Management LLC acquired a new position in shares of Veren during the second quarter valued at about $3,723,000. Finally, Easterly Investment Partners LLC acquired a new position in shares of Veren during the second quarter valued at about $3,096,000. 49.37% of the stock is owned by hedge funds and other 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.