Equities researchers at Raymond James assumed coverage on shares of Veren (NYSE:VRN – Get Free Report) in a research note issued to investors on Friday, MarketBeat reports. The firm set a “strong-buy” rating and a $13.00 price target on the stock. Raymond James’ price target suggests a potential upside of 115.59% from the company’s previous close.
Separately, Scotiabank reduced their target price on Veren from $16.00 to $15.00 and set a “sector outperform” rating on the stock in a report on Friday, July 12th.
Read Our Latest Stock Analysis on VRN
Veren Stock Down 1.3 %
Veren (NYSE:VRN – Get Free Report) last posted its earnings results on Thursday, July 25th. The company reported $0.28 EPS for the quarter, hitting the consensus estimate of $0.28. Veren had a negative net margin of 0.69% and a positive return on equity of 13.50%. The firm had revenue of $852.57 million during the quarter, compared to analysts’ expectations of $821.00 million. Equities research analysts anticipate that Veren will post 0.99 earnings per share for the current year.
Institutional Inflows and Outflows
A number of large investors have recently bought and sold shares of VRN. Dixon Mitchell Investment Counsel Inc. bought a new position in shares of Veren during the second quarter valued at approximately $36,000. EverSource Wealth Advisors LLC bought a new position in Veren during the 2nd quarter valued at approximately $42,000. Pacifica Partners Inc. purchased a new position in Veren during the second quarter valued at $61,000. Fifth Third Bancorp bought a new stake in Veren in the second quarter worth $85,000. Finally, Oliver Lagore Vanvalin Investment Group bought a new stake in Veren in the second quarter worth $103,000. 49.37% of the stock is owned by hedge funds and other institutional investors.
Veren Company Profile
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.
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