Atb Cap Markets Weighs in on Veren’s Q4 Earnings (NYSE:VRN)

Veren Inc. (NYSE:VRN) – Equities research analysts at Atb Cap Markets reduced their Q4 2024 earnings per share estimates for shares of Veren in a report issued on Wednesday, January 22nd. Atb Cap Markets analyst A. Arif now expects that the company will post earnings of $0.20 per share for the quarter, down from their prior estimate of $0.23. The consensus estimate for Veren’s current full-year earnings is $0.96 per share. Atb Cap Markets also issued estimates for Veren’s Q4 2025 earnings at $0.21 EPS, FY2026 earnings at $0.63 EPS and FY2027 earnings at $0.40 EPS.

A number of other research firms have also recently issued reports on VRN. Royal Bank of Canada dropped their price objective on Veren from $12.00 to $10.00 and set an “outperform” rating for the company in a report on Friday, November 1st. Raymond James assumed coverage on 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 Stock Performance

Veren stock opened at $5.28 on Friday. The company has a debt-to-equity ratio of 0.34, a current ratio of 0.88 and a quick ratio of 0.88. The firm has a market capitalization of $3.23 billion, a P/E ratio of 3.77 and a beta of 2.13. Veren has a 1-year low of $4.39 and a 1-year high of $9.28. The company’s 50-day moving average is $5.17 and its 200 day moving average is $6.12.

Veren (NYSE:VRN) last posted its quarterly earnings data on Thursday, October 31st. The company reported $0.21 EPS for the quarter, missing the consensus estimate of $0.25 by ($0.04). The firm had revenue of $813.63 million for the quarter, compared to analysts’ expectations 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.

Veren Increases Dividend

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

Institutional Trading of Veren

A number of hedge funds have recently added to or reduced their stakes in VRN. Barclays PLC raised its holdings in Veren by 313.7% in the third quarter. Barclays PLC now owns 132,245 shares of the company’s stock worth $813,000 after purchasing an additional 100,279 shares in the last quarter. Intact Investment Management Inc. boosted its stake in Veren by 46.7% in the third quarter. Intact Investment Management Inc. now owns 5,458,686 shares of the company’s stock valued at $33,624,000 after acquiring an additional 1,737,840 shares in the last quarter. Principal Financial Group Inc. boosted its stake in 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 acquiring an additional 653,300 shares in the last quarter. The Manufacturers Life Insurance Company purchased a new position in Veren in the second quarter worth $28,162,000. Finally, Toronto Dominion Bank increased its position in shares of Veren by 302.4% during the third quarter. Toronto Dominion Bank now owns 553,902 shares of the company’s stock worth $3,406,000 after purchasing an additional 416,265 shares in the last quarter. 49.37% of the stock is owned by hedge funds and other 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.