Man Group plc Decreases Position in Veren Inc. (NYSE:VRN)

Man Group plc cut its stake in shares of Veren Inc. (NYSE:VRN) by 67.7% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 1,137,448 shares of the company’s stock after selling 2,382,503 shares during the period. Man Group plc owned 0.19% of Veren worth $5,846,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds and other institutional investors have also added to or reduced their stakes in VRN. Ninepoint Partners LP grew its stake in Veren by 16.6% in the fourth quarter. Ninepoint Partners LP now owns 21,100,000 shares of the company’s stock worth $108,454,000 after purchasing an additional 3,000,000 shares in the last quarter. Balyasny Asset Management L.P. bought a new position in Veren in the fourth quarter worth approximately $12,492,000. Bornite Capital Management LP bought a new position in Veren in the fourth quarter worth approximately $10,280,000. Canada Pension Plan Investment Board bought a new position in Veren in the fourth quarter worth approximately $10,269,000. Finally, D. E. Shaw & Co. Inc. grew its stake in Veren by 4,459.4% in the fourth quarter. D. E. Shaw & Co. Inc. now owns 1,451,891 shares of the company’s stock worth $7,460,000 after purchasing an additional 1,420,047 shares in the last quarter. 49.37% of the stock is currently owned by hedge funds and other institutional investors.

Veren Price Performance

Shares of NYSE:VRN opened at $6.01 on Wednesday. The company has a quick ratio of 0.88, a current ratio of 0.88 and a debt-to-equity ratio of 0.34. The stock has a market cap of $3.68 billion, a P/E ratio of 4.29 and a beta of 0.93. The business’s 50 day moving average is $6.09 and its 200 day moving average is $5.50. Veren Inc. has a 52-week low of $4.40 and a 52-week high of $8.81.

Veren Cuts Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, April 1st. Stockholders of record on Saturday, March 15th were given a $0.0797 dividend. The ex-dividend date was Friday, March 14th. This represents a $0.32 dividend on an annualized basis and a dividend yield of 5.30%. Veren’s payout ratio is 96.88%.

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.