Veren Inc. (NYSE:VRN) Shares Purchased by Alberta Investment Management Corp

Alberta Investment Management Corp increased its stake in Veren Inc. (NYSE:VRN) by 108.0% in the fourth quarter, Holdings Channel reports. The institutional investor owned 689,400 shares of the company’s stock after acquiring an additional 358,000 shares during the quarter. Alberta Investment Management Corp’s holdings in Veren were worth $3,542,000 as of its most recent SEC filing.

Other institutional investors have also recently added to or reduced their stakes in the company. HITE Hedge Asset Management LLC bought a new stake in shares of Veren in the 3rd quarter worth about $65,155,000. Intact Investment Management Inc. grew its stake in Veren by 46.7% in the third quarter. Intact Investment Management Inc. now owns 5,458,686 shares of the company’s stock worth $33,624,000 after purchasing an additional 1,737,840 shares in the last quarter. Wexford Capital LP bought a new stake in Veren in the third quarter valued at about $9,322,000. Capital Management Corp VA raised its stake in Veren by 92.1% during the third quarter. Capital Management Corp VA now owns 3,124,775 shares of the company’s stock valued at $19,217,000 after buying an additional 1,498,544 shares in the last quarter. Finally, Foundry Partners LLC bought a new position in Veren during the 3rd quarter worth approximately $6,734,000. 49.37% of the stock is owned by institutional investors and hedge funds.

Veren Trading Down 0.8 %

NYSE VRN opened at $5.30 on Friday. The company has a debt-to-equity ratio of 0.34, a quick ratio of 0.88 and a current ratio of 0.88. Veren Inc. has a one year low of $4.39 and a one year high of $9.28. The company has a 50-day simple moving average of $5.17 and a 200-day simple moving average of $5.81. The firm has a market capitalization of $3.24 billion, a PE ratio of 3.78 and a beta of 2.10.

Wall Street Analysts Forecast Growth

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

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.