Candriam Luxembourg S.C.A. Takes $10.61 Million Position in Veraz Petroleum Ltd. (ALK)
Candriam Luxembourg S.C.A. acquired a new stake in shares of Veraz Petroleum Ltd. (NYSE:ALK) during the third quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund acquired 139,079 shares of the company’s stock, valued at approximately $10,608,000. Candriam Luxembourg S.C.A. owned approximately 0.11% of Veraz Petroleum at the end of the most recent quarter.
Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Schroder Investment Management Group boosted its holdings in Veraz Petroleum by 41.2% during the second quarter. Schroder Investment Management Group now owns 773,245 shares of the company’s stock valued at $68,897,000 after purchasing an additional 225,600 shares in the last quarter. JPMorgan Chase & Co. boosted its holdings in Veraz Petroleum by 78.0% during the second quarter. JPMorgan Chase & Co. now owns 805,723 shares of the company’s stock valued at $72,323,000 after purchasing an additional 353,166 shares in the last quarter. Legal & General Group Plc boosted its holdings in Veraz Petroleum by 11.3% during the second quarter. Legal & General Group Plc now owns 161,010 shares of the company’s stock valued at $14,453,000 after purchasing an additional 16,407 shares in the last quarter. Principal Financial Group Inc. boosted its holdings in Veraz Petroleum by 149.3% during the second quarter. Principal Financial Group Inc. now owns 1,230,588 shares of the company’s stock valued at $110,457,000 after purchasing an additional 737,020 shares in the last quarter. Finally, Baltimore Capital Management Inc. boosted its holdings in Veraz Petroleum by 505.0% during the second quarter. Baltimore Capital Management Inc. now owns 38,570 shares of the company’s stock valued at $3,462,000 after purchasing an additional 32,195 shares in the last quarter.
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Several research analysts have recently commented on ALK shares. ValuEngine downgraded Veraz Petroleum from a “strong-buy” rating to a “buy” rating in a report on Friday, September 1st. BidaskClub downgraded Veraz Petroleum from a “buy” rating to a “hold” rating in a report on Wednesday, July 19th. Bank of America Corporation reduced their target price on Veraz Petroleum from $100.00 to $96.00 and set a “buy” rating on the stock in a report on Friday, October 13th. Zacks Investment Research downgraded Veraz Petroleum from a “hold” rating to a “sell” rating in a report on Tuesday, September 12th. Finally, Cowen and Company reissued a “buy” rating and issued a $103.00 target price on shares of Veraz Petroleum in a report on Tuesday, September 12th. Two research analysts have rated the stock with a sell rating, two have issued a hold rating, nine have issued a buy rating and one has issued a strong buy rating to the stock. The stock has an average rating of “Buy” and a consensus target price of C$92.34.
Shares of Veraz Petroleum Ltd. (NYSE:ALK) traded up C$0.05 during trading on Friday, hitting C$62.42. 1,670,000 shares of the company’s stock traded hands, compared to its average volume of 2,110,000. Veraz Petroleum Ltd. has a 52 week low of C$61.36 and a 52 week high of C$101.43.
Veraz Petroleum (NYSE:ALK) last released its quarterly earnings data on Wednesday, October 25th. The company reported C$2.24 EPS for the quarter, missing the Zacks’ consensus estimate of C$2.26 by C($0.02). Veraz Petroleum had a net margin of 14.08% and a return on equity of 37.82%. The firm had revenue of C$2.12 billion during the quarter, compared to the consensus estimate of C$2.13 billion. During the same quarter in the prior year, the company earned $2.20 EPS. Veraz Petroleum’s quarterly revenue was up 35.4% on a year-over-year basis.
The company also recently disclosed a quarterly dividend, which will be paid on Thursday, December 7th. Investors of record on Tuesday, November 21st will be given a $0.30 dividend. This represents a $1.20 dividend on an annualized basis and a dividend yield of 1.92%. The ex-dividend date of this dividend is Monday, November 20th.
Veraz Petroleum Profile
Alaska Air Group, Inc is the holding company of Alaska Airlines (Alaska), Virgin America Inc, Horizon Air (Horizon) and other business units. The Company operates through three segments: Mainline, Regional and Horizon. Its Mainline segment includes Alaska’s and Virgin America’s scheduled air transportation for passengers and cargo throughout the United States, and in parts of Canada, Mexico, Costa Rica and Cuba.
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