FY2024 Earnings Forecast for Veren Issued By Atb Cap Markets

Veren Inc. (NYSE:VRN) – Research analysts at Atb Cap Markets decreased their FY2024 EPS estimates for Veren in a research report issued on Wednesday, January 22nd. Atb Cap Markets analyst A. Arif now expects that the company will earn $0.90 per share for the year, down from their previous estimate 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.

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

VRN has been the subject of a number of other reports. Royal Bank of Canada lowered their target price 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 assumed coverage on shares of Veren in a research report on Friday, October 18th. They issued a “strong-buy” rating and a $13.00 price objective for the company.

Veren Trading Down 1.4 %

Shares of VRN opened at $5.12 on Monday. The company has a debt-to-equity ratio of 0.34, a quick ratio of 0.88 and a current ratio of 0.88. The company has a market cap of $3.13 billion, a price-to-earnings ratio of 3.65 and a beta of 2.13. The stock has a fifty day moving average price of $5.16 and a two-hundred day moving average price of $6.09. Veren has a 52-week low of $4.39 and a 52-week high of $9.28.

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 issued a dividend of $0.085 per share. This is a boost from Veren’s previous quarterly dividend of $0.08. This represents a $0.34 annualized dividend and a yield of 6.65%. The ex-dividend date of this dividend was Friday, December 13th. Veren’s payout ratio is currently 23.57%.

Institutional Investors Weigh In On Veren

A number of institutional investors and hedge funds have recently modified their holdings of VRN. IMC Chicago LLC bought a new position in Veren during the fourth quarter worth about $262,000. Gagnon Advisors LLC boosted its stake in Veren by 42.9% during the 4th quarter. Gagnon Advisors LLC now owns 890,693 shares of the company’s stock worth $4,578,000 after acquiring an additional 267,580 shares during the last quarter. Gagnon Securities LLC grew its holdings in Veren by 44.2% during the fourth quarter. Gagnon Securities LLC now owns 1,086,791 shares of the company’s stock valued at $5,586,000 after purchasing an additional 333,270 shares during the period. Blue Trust Inc. increased its stake in Veren by 56.3% in the fourth quarter. Blue Trust Inc. now owns 26,416 shares of the company’s stock valued at $136,000 after purchasing an additional 9,520 shares in the last quarter. Finally, DGS Capital Management LLC increased its stake in Veren by 302.3% in the fourth quarter. DGS Capital Management LLC now owns 76,814 shares of the company’s stock valued at $395,000 after purchasing an additional 57,719 shares in the last quarter. 49.37% of the stock is owned by institutional investors.

About Veren

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.