Mitsubishi UFJ Trust & Banking Corp Acquires 60,700 Shares of Veren Inc. (NYSE:VRN)

Mitsubishi UFJ Trust & Banking Corp grew its holdings in Veren Inc. (NYSE:VRN) by 32.3% during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 248,384 shares of the company’s stock after acquiring an additional 60,700 shares during the period. Mitsubishi UFJ Trust & Banking Corp’s holdings in Veren were worth $1,277,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also modified their holdings of the company. EverSource Wealth Advisors LLC raised its stake in Veren by 80.6% during the 4th quarter. EverSource Wealth Advisors LLC now owns 5,951 shares of the company’s stock worth $31,000 after acquiring an additional 2,655 shares during the period. Arkadios Wealth Advisors purchased a new position in shares of Veren during the 4th quarter valued at $59,000. Truist Financial Corp bought a new position in Veren in the 4th quarter worth $76,000. Wilmington Savings Fund Society FSB purchased a new stake in Veren in the 3rd quarter worth $108,000. Finally, Corient Private Wealth LLC purchased a new position in shares of Veren in the fourth quarter valued at about $98,000. Hedge funds and other institutional investors own 49.37% of the company’s stock.

Veren Stock Performance

NYSE VRN opened at $6.62 on Wednesday. The business has a 50-day moving average price of $5.58 and a 200-day moving average price of $5.57. The firm has a market cap of $4.05 billion, a price-to-earnings ratio of 4.73 and a beta of 2.08. Veren Inc. has a twelve month low of $4.40 and a twelve month high of $9.02. The company has a quick ratio of 0.88, a current ratio of 0.88 and a debt-to-equity ratio of 0.34.

Veren Cuts Dividend

The firm also recently announced a quarterly dividend, which was paid on Tuesday, April 1st. Investors of record on Saturday, March 15th were issued a $0.0797 dividend. This represents a $0.32 dividend on an annualized basis and a dividend yield of 4.82%. The ex-dividend date was Friday, March 14th. Veren’s dividend payout ratio (DPR) is presently 100.00%.

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.