Crossmark Global Holdings Inc. Has $4.93 Million Stock Position in Veren Inc. (NYSE:VRN)

Crossmark Global Holdings Inc. cut its position in Veren Inc. (NYSE:VRN) by 8.4% during the fourth quarter, HoldingsChannel.com reports. The institutional investor owned 958,445 shares of the company’s stock after selling 87,920 shares during the quarter. Crossmark Global Holdings Inc.’s holdings in Veren were worth $4,926,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors have also recently bought and sold shares of VRN. Arkadios Wealth Advisors acquired a new stake in shares of Veren in the fourth quarter valued at about $59,000. Canoe Financial LP acquired a new stake in Veren in the 4th quarter valued at approximately $103,000. JPMorgan Chase & Co. increased its position in Veren by 642.8% in the 3rd quarter. JPMorgan Chase & Co. now owns 260,958 shares of the company’s stock worth $1,605,000 after buying an additional 225,827 shares during the period. Principal Financial Group Inc. lifted its holdings in shares of Veren by 19.3% during the third quarter. Principal Financial Group Inc. now owns 4,038,140 shares of the company’s stock worth $24,899,000 after buying an additional 653,300 shares during the last quarter. Finally, Tidal Investments LLC boosted its position in shares of Veren by 90.6% in the third quarter. Tidal Investments LLC now owns 51,170 shares of the company’s stock valued at $315,000 after acquiring an additional 24,323 shares during the period. Institutional investors own 49.37% of the company’s stock.

Veren Stock Performance

Shares of NYSE VRN opened at $5.49 on Wednesday. The firm has a market capitalization of $3.36 billion, a price-to-earnings ratio of 3.92 and a beta of 2.13. Veren Inc. has a one year low of $4.39 and a one year high of $9.28. The business has a fifty day simple moving average of $5.15 and a 200 day simple moving average of $6.18. 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 (NYSE:VRN) last released its quarterly earnings data on Thursday, October 31st. The company reported $0.21 EPS for the quarter, missing analysts’ consensus estimates of $0.25 by ($0.04). Veren had a return on equity of 12.23% and a net margin of 26.93%. The business had revenue of $813.63 million for the quarter, compared to the consensus estimate of $738.93 million. During the same period in the previous year, the business posted $0.31 earnings per share. Sell-side analysts expect that Veren Inc. will post 0.97 EPS for the current year.

Veren Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Thursday, January 2nd. Shareholders of record on Sunday, December 15th were issued a dividend of $0.085 per share. This represents a $0.34 dividend on an annualized basis and a yield of 6.20%. This is an increase from Veren’s previous quarterly dividend of $0.08. The ex-dividend date of this dividend was Friday, December 13th. Veren’s payout ratio is presently 23.57%.

Analyst Ratings Changes

Several equities analysts recently commented on VRN shares. Raymond James started coverage on shares of Veren in a research note on Friday, October 18th. They set a “strong-buy” rating and a $13.00 target price for the company. Royal Bank of Canada cut their price objective on shares of Veren from $12.00 to $10.00 and set an “outperform” rating for the company in a research 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.