FY2024 Earnings Forecast for Veren Issued By Atb Cap Markets

Veren Inc. (TSE:VRN) – Analysts at Atb Cap Markets decreased their FY2024 earnings 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 of $1.25 per share for the year, down from their prior estimate of $1.29. Atb Cap Markets also issued estimates for Veren’s Q4 2024 earnings at $0.29 EPS, Q1 2025 earnings at $0.25 EPS and Q2 2025 earnings at $0.27 EPS.

A number of other equities research analysts have also weighed in on VRN. Canaccord Genuity Group decreased their target price on Veren from C$15.00 to C$14.00 in a research report on Tuesday, October 22nd. Royal Bank of Canada reduced their price target on shares of Veren from C$12.00 to C$10.00 and set an “outperform” rating for the company in a report on Friday, November 1st. TD Securities dropped their price objective on shares of Veren from C$15.00 to C$12.00 and set a “buy” rating on the stock in a research note on Friday, November 1st. CIBC reduced their price objective on shares of Veren from C$13.00 to C$12.50 in a research note on Friday, January 17th. Finally, Scotiabank dropped their target price on Veren from C$12.00 to C$11.00 and set an “outperform” rating on the stock in a research report on Friday, November 1st. Six analysts have rated the stock with a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat, Veren has an average rating of “Buy” and an average price target of C$11.83.

Veren Stock Performance

Shares of TSE:VRN opened at C$7.46 on Monday. The stock’s 50 day moving average is C$7.37. Veren has a one year low of C$6.34 and a one year high of C$12.67.

Veren (TSE:VRN) last posted its quarterly earnings data on Thursday, October 31st. The company reported C$0.29 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of C$0.33 by C($0.04). During the same quarter in the prior year, the firm posted $0.42 earnings per share.

Veren Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Thursday, January 2nd. Shareholders of record on Thursday, January 2nd were paid a $0.115 dividend. The ex-dividend date was Friday, December 13th. This represents a $0.46 annualized dividend and a yield of 6.17%.

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.