South Dakota Investment Council Increases Position in Veren Inc. (NYSE:VRN)

South Dakota Investment Council increased its stake in Veren Inc. (NYSE:VRN) by 194.2% in the fourth quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 1,731,831 shares of the company’s stock after purchasing an additional 1,143,159 shares during the quarter. South Dakota Investment Council owned 0.28% of Veren worth $8,902,000 at the end of the most recent quarter.

Other large investors have also made changes to their positions in the company. Private Advisor Group LLC acquired a new stake in Veren in the 4th quarter valued at about $150,000. Alberta Investment Management Corp lifted its holdings in shares of Veren by 108.0% during the 4th quarter. Alberta Investment Management Corp now owns 689,400 shares of the company’s stock worth $3,542,000 after acquiring an additional 358,000 shares during the period. Truist Financial Corp purchased a new position in shares of Veren during the 4th quarter worth about $76,000. Principal Financial Group Inc. raised its holdings in Veren by 3.9% in the fourth quarter. Principal Financial Group Inc. now owns 4,196,340 shares of the company’s stock valued at $21,562,000 after buying an additional 158,200 shares during the period. Finally, Savant Capital LLC raised its holdings in Veren by 67.0% in the fourth quarter. Savant Capital LLC now owns 21,399 shares of the company’s stock valued at $110,000 after buying an additional 8,586 shares during the period. Hedge funds and other institutional investors own 49.37% of the company’s stock.

Wall Street Analysts Forecast Growth

Separately, Royal Bank of Canada reduced their target price on shares of Veren from $12.00 to $10.00 and set an “outperform” rating on the stock in a research report on Friday, November 1st.

Veren Price Performance

Shares of NYSE VRN opened at $5.01 on Friday. Veren Inc. has a twelve month low of $4.39 and a twelve month high of $9.28. The company has a current ratio of 0.88, a quick ratio of 0.88 and a debt-to-equity ratio of 0.34. The company has a market capitalization of $3.06 billion, a price-to-earnings ratio of 3.58 and a beta of 2.10. The firm has a 50-day moving average of $5.17 and a two-hundred day moving average of $5.79.

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.