Everstar Asset Management LLC Has $67,000 Stake in Veren Inc. (NYSE:VRN)

Everstar Asset Management LLC trimmed its position in shares of Veren Inc. (NYSE:VRN) by 77.7% in the fourth quarter, Holdings Channel reports. The fund owned 13,056 shares of the company’s stock after selling 45,591 shares during the quarter. Everstar Asset Management LLC’s holdings in Veren were worth $67,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds and other institutional investors also recently made changes to their positions in the business. HITE Hedge Asset Management LLC bought a new stake in Veren during the 3rd quarter valued at approximately $65,155,000. Ninepoint Partners LP boosted its position in shares of Veren by 16.6% in the fourth quarter. Ninepoint Partners LP now owns 21,100,000 shares of the company’s stock valued at $108,454,000 after acquiring an additional 3,000,000 shares during the period. Wexford Capital LP acquired a new stake in shares of Veren in the third quarter worth $9,322,000. South Dakota Investment Council increased its position in Veren by 194.2% during the fourth quarter. South Dakota Investment Council now owns 1,731,831 shares of the company’s stock worth $8,902,000 after acquiring an additional 1,143,159 shares during the period. Finally, National Bank of Canada FI raised its stake in Veren by 94.7% during the 3rd quarter. National Bank of Canada FI now owns 2,217,305 shares of the company’s stock valued at $13,637,000 after purchasing an additional 1,078,596 shares during the last quarter. 49.37% of the stock is owned by institutional investors and hedge funds.

Veren Stock Performance

NYSE VRN opened at $6.62 on Tuesday. The company’s fifty day moving average is $5.56 and its two-hundred day moving average is $5.57. Veren Inc. has a 52-week low of $4.40 and a 52-week high of $9.02. The company has a debt-to-equity ratio of 0.34, a current ratio of 0.88 and a quick ratio of 0.88. The firm has a market capitalization of $4.05 billion, a price-to-earnings ratio of 4.73 and a beta of 2.08.

Veren Cuts Dividend

The company also recently declared a quarterly dividend, which will be paid on Tuesday, April 1st. Shareholders 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 yield of 4.82%. Veren’s dividend payout ratio (DPR) is 100.00%.

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.