FY2024 Earnings Forecast for Veren Issued By Atb Cap Markets

Veren Inc. (NYSE:VRN) – Equities research analysts at Atb Cap Markets dropped their FY2024 EPS estimates for shares of Veren in a report issued on Wednesday, January 22nd. Atb Cap Markets analyst A. Arif now forecasts that the company will post earnings of $0.90 per share 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.

A number of other analysts also recently weighed in on VRN. Royal Bank of Canada dropped their target price on Veren from $12.00 to $10.00 and set an “outperform” rating for the company in a research report on Friday, November 1st. Raymond James started coverage on shares of Veren in a research report on Friday, October 18th. They issued a “strong-buy” rating and a $13.00 target price on the stock.

Veren Price Performance

VRN opened at $5.28 on Monday. The company has a current ratio of 0.88, a quick ratio of 0.88 and a debt-to-equity ratio of 0.34. The stock has a market capitalization of $3.23 billion, a P/E ratio of 3.77 and a beta of 2.13. The stock has a 50-day moving average price of $5.17 and a 200-day moving average price of $6.12. Veren has a 12-month low of $4.39 and a 12-month high of $9.28.

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

Veren Increases Dividend

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

Institutional Inflows and Outflows

A number of hedge funds have recently bought and sold shares of the business. EverSource Wealth Advisors LLC bought a new stake in Veren during the 2nd quarter valued at approximately $42,000. Olympiad Research LP lifted its stake in shares of Veren by 36.2% in the 3rd quarter. Olympiad Research LP now owns 29,088 shares of the company’s stock valued at $179,000 after purchasing an additional 7,724 shares during the period. Blue Trust Inc. boosted its position in shares of Veren by 56.3% during 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. Arkadios Wealth Advisors purchased a new stake in Veren in the fourth quarter worth $59,000. Finally, DORCHESTER WEALTH MANAGEMENT Co bought a new position in Veren in the third quarter worth $79,000. Hedge funds and other institutional investors own 49.37% of the company’s stock.

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.