Atb Cap Markets Estimates Veren’s FY2024 Earnings (NYSE:VRN)

Veren Inc. (NYSE:VRN) – Stock analysts at Atb Cap Markets lowered their FY2024 earnings per share estimates for shares of Veren in a research note issued to investors on Wednesday, January 22nd. Atb Cap Markets analyst A. Arif now forecasts that the company will post earnings per share of $0.90 for the year, down from their prior forecast of $0.94. The consensus estimate for Veren’s current full-year earnings is $0.96 per share. Atb Cap Markets also issued estimates for Veren’s Q1 2025 earnings at $0.17 EPS, Q2 2025 earnings at $0.19 EPS, Q3 2025 earnings at $0.19 EPS and FY2025 earnings at $0.77 EPS.

VRN has been the subject of several other research reports. Royal Bank of Canada decreased their price target on Veren from $12.00 to $10.00 and set an “outperform” rating for the company in a research note on Friday, November 1st. Raymond James initiated coverage on shares of Veren in a research report on Friday, October 18th. They set a “strong-buy” rating and a $13.00 target price for the company.

Veren Trading Down 1.5 %

Shares of VRN stock opened at $5.28 on Monday. Veren has a twelve month low of $4.39 and a twelve month high of $9.28. The stock’s fifty day simple moving average is $5.17 and its 200 day simple moving average is $6.12. The company has a quick ratio of 0.88, a current ratio of 0.88 and a debt-to-equity ratio of 0.34. The firm has a market capitalization of $3.23 billion, a P/E ratio of 3.77 and a beta of 2.13.

Veren (NYSE:VRN) last released its earnings results on Thursday, October 31st. The company reported $0.21 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.25 by ($0.04). The business had revenue of $813.63 million during the quarter, compared to the consensus estimate of $738.93 million. Veren had a net margin of 26.93% and a return on equity of 12.23%. During the same quarter in the prior year, the firm earned $0.31 EPS.

Veren Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Thursday, January 2nd. Shareholders of record on Sunday, December 15th were given a $0.085 dividend. This represents a $0.34 dividend on an annualized basis and a yield of 6.44%. This is an increase from Veren’s previous quarterly dividend of $0.08. The ex-dividend date was Friday, December 13th. Veren’s dividend payout ratio is presently 23.57%.

Hedge Funds Weigh In On Veren

Several institutional investors have recently modified their holdings of VRN. HITE Hedge Asset Management LLC bought a new position in shares of Veren during the 3rd quarter valued at approximately $65,155,000. Millennium Management LLC bought a new position in Veren during the second quarter valued at $74,306,000. Intact Investment Management Inc. increased its position in Veren by 46.7% in the third quarter. Intact Investment Management Inc. now owns 5,458,686 shares of the company’s stock worth $33,624,000 after buying an additional 1,737,840 shares during the last quarter. Principal Financial Group Inc. raised its stake in shares of Veren by 19.3% in the third quarter. Principal Financial Group Inc. now owns 4,038,140 shares of the company’s stock valued at $24,899,000 after buying an additional 653,300 shares during the period. Finally, The Manufacturers Life Insurance Company lifted its position in shares of Veren by 11.2% during the 3rd quarter. The Manufacturers Life Insurance Company now owns 3,975,885 shares of the company’s stock valued at $24,505,000 after buying an additional 400,068 shares during the last quarter. 49.37% of the stock is owned by 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.