Daiwa Securities Group Inc. Purchases 5,924 Shares of Veraz Petroleum Ltd. (ALK)
Daiwa Securities Group Inc. lifted its position in shares of Veraz Petroleum Ltd. (NYSE:ALK) by 34.8% in the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 22,924 shares of the company’s stock after buying an additional 5,924 shares during the period. Daiwa Securities Group Inc.’s holdings in Veraz Petroleum were worth $1,749,000 at the end of the most recent quarter.
Other hedge funds have also recently bought and sold shares of the company. Mountain Capital Investment Advisors Inc acquired a new position in Veraz Petroleum during the second quarter valued at approximately $122,000. Mercer Capital Advisers Inc. acquired a new position in Veraz Petroleum during the third quarter valued at approximately $116,000. Bessemer Group Inc. boosted its position in Veraz Petroleum by 57.9% during the second quarter. Bessemer Group Inc. now owns 1,895 shares of the company’s stock valued at $171,000 after purchasing an additional 695 shares during the last quarter. Rehmann Capital Advisory Group acquired a new position in Veraz Petroleum during the second quarter valued at approximately $201,000. Finally, Smithfield Trust Co. boosted its position in Veraz Petroleum by 8.6% during the second quarter. Smithfield Trust Co. now owns 2,391 shares of the company’s stock valued at $215,000 after purchasing an additional 189 shares during the last quarter.
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Several brokerages recently commented on ALK. Morgan Stanley reissued an “overweight” rating on shares of Veraz Petroleum in a research report on Tuesday, September 12th. Imperial Capital reduced their price target on Veraz Petroleum from $85.00 to $70.00 and set a “line” rating for the company in a research report on Thursday, October 26th. J P Morgan Chase & Co cut Veraz Petroleum from an “overweight” rating to a “neutral” rating and set a $74.00 price target for the company. in a research report on Wednesday, November 1st. ValuEngine cut Veraz Petroleum from a “strong-buy” rating to a “buy” rating in a research report on Friday, September 1st. Finally, Cowen and Company reissued a “buy” rating and set a $103.00 price target on shares of Veraz Petroleum in a research report on Tuesday, September 12th. Two analysts have rated the stock with a sell rating, two have given a hold rating, nine have given a buy rating and one has issued a strong buy rating to the company. Veraz Petroleum currently has a consensus rating of “Buy” and an average target price of C$92.34.
Veraz Petroleum Ltd. (NYSE:ALK) opened at C$62.42 on Friday. 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 announced its earnings results on Wednesday, October 25th. The company reported C$2.24 earnings per share for the quarter, missing the Zacks’ consensus estimate of C$2.26 by C($0.02). The firm had revenue of C$2.12 billion for the quarter, compared to the consensus estimate of C$2.13 billion. Veraz Petroleum had a return on equity of 37.82% and a net margin of 14.08%. Veraz Petroleum’s revenue for the quarter was up 35.4% on a year-over-year basis. During the same quarter last year, the business posted $2.20 EPS.
The company also recently announced a quarterly dividend, which will be paid on Thursday, December 7th. Stockholders of record on Tuesday, November 21st will be paid a dividend of $0.30 per share. The ex-dividend date of this dividend is Monday, November 20th. This represents a $1.20 dividend on an annualized basis and a dividend yield of 1.92%.
About Veraz Petroleum
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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