Editor’s Note: Ideas from HFI Research is a separate paying subscription to HFI Research. Veren is not a holding in the HFI Portfolio, so this write-up is not included.
By: Jon Costello
Note: Dollar references are to Canadian dollars unless otherwise specified.
I’ve published several articles pounding the table on Veren (VRN). Links to the articles can be found below.
I purchased Veren shares for the HFI Research Energy Income Portfolio at US$5.03 on October 31 and US$4.66 per share on December 16. Most recently, I bought shares at US$4.79 this Tuesday for other accounts.
This morning, Veren reported fourth-quarter results. Its operating and financial performance caused its stock to trade 8.9% higher. Even after today’s pop, Veren’s shares are among the most attractive in the North American oil patch. Investors can obtain a 6% dividend yield and the prospect of more than a double in the share price over the next two years.
Q4 Operating Results Shine
Veren’s fourth-quarter operating results were supportive of my investment thesis, which I outlined in previous articles.