Investors Purchase Large Volume of Call Options on Veren (NYSE:VRN)

Veren Inc. (NYSE:VRN) saw some unusual options trading activity on Monday. Traders bought 5,760 call options on the company. This is an increase of 693% compared to the typical daily volume of 726 call options.

Veren Trading Up 17.5 %

Shares of VRN traded up $0.86 during trading hours on Monday, hitting $5.77. 24,432,319 shares of the stock were exchanged, compared to its average volume of 7,762,659. Veren has a fifty-two week low of $4.40 and a fifty-two week high of $9.02. The business has a 50-day moving average of $5.22 and a 200-day moving average of $5.62. The firm has a market capitalization of $3.53 billion, a P/E ratio of 4.13 and a beta of 2.08. 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 Cuts Dividend

The firm 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 dividend of $0.0797 per share. The ex-dividend date is Friday, March 14th. This represents a $0.32 dividend on an annualized basis and a yield of 5.52%. Veren’s payout ratio is currently 100.00%.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently made changes to their positions in VRN. EverSource Wealth Advisors LLC grew its stake in Veren by 80.6% during the fourth quarter. EverSource Wealth Advisors LLC now owns 5,951 shares of the company’s stock worth $31,000 after purchasing an additional 2,655 shares during the period. State of Wyoming grew its position in shares of Veren by 44.7% during the 4th quarter. State of Wyoming now owns 10,736 shares of the company’s stock worth $55,000 after buying an additional 3,319 shares during the period. Vise Technologies Inc. increased its stake in shares of Veren by 33.1% in the 4th quarter. Vise Technologies Inc. now owns 13,722 shares of the company’s stock valued at $71,000 after acquiring an additional 3,412 shares in the last quarter. Alliancebernstein L.P. lifted its position in shares of Veren by 4.8% during the 4th quarter. Alliancebernstein L.P. now owns 101,460 shares of the company’s stock valued at $522,000 after acquiring an additional 4,640 shares during the period. Finally, Virtus ETF Advisers LLC boosted its stake in Veren by 28.5% during the fourth quarter. Virtus ETF Advisers LLC now owns 27,462 shares of the company’s stock worth $141,000 after acquiring an additional 6,088 shares in the last quarter. 49.37% of the stock is owned by institutional investors and hedge funds.

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.