Research Analysts Offer Predictions for Veren Inc.'s FY2024 Earnings (NYSE:VRN)

Veren Inc. (NYSE:VRN - Free Report) - Equities research analysts at Atb Cap Markets cut their FY2024 earnings per share estimates for shares of Veren in a report released on Wednesday, September 25th. Atb Cap Markets analyst A. Arif now anticipates that the company will earn $0.91 per share for the year, down from their prior forecast of $0.92. The consensus estimate for Veren's current full-year earnings is $1.00 per share. Atb Cap Markets also issued estimates for Veren's Q3 2025 earnings at $0.17 EPS, FY2025 earnings at $0.75 EPS, FY2026 earnings at $0.41 EPS and FY2027 earnings at $0.18 EPS.

Separately, Scotiabank reduced their price objective on shares of Veren from $16.00 to $15.00 and set a "sector outperform" rating for the company in a report on Friday, July 12th.

Veren Stock Performance

Shares of NYSE:VRN traded up $0.08 on Friday, hitting $6.15. The company's stock had a trading volume of 5,626,121 shares, compared to its average volume of 4,332,265. The firm has a market capitalization of $3.80 billion, a P/E ratio of -76.38 and a beta of 2.16. The company has a quick ratio of 0.49, a current ratio of 0.49 and a debt-to-equity ratio of 0.36. Veren has a 12 month low of $6.03 and a 12 month high of $9.28. The company's 50-day moving average price is $6.98.

Veren (NYSE:VRN - Get Free Report) last issued its quarterly earnings data on Thursday, July 25th. The company reported $0.28 earnings per share (EPS) for the quarter, hitting the consensus estimate of $0.28. Veren had a positive return on equity of 13.50% and a negative net margin of 0.69%. The business had revenue of $852.57 million during the quarter, compared to the consensus estimate of $821.00 million.

Veren Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Tuesday, October 1st. Investors of record on Sunday, September 15th will be issued a dividend of $0.0834 per share. This is a boost from Veren's previous quarterly dividend of $0.08. The ex-dividend date of this dividend is Friday, September 13th. This represents a $0.33 annualized dividend and a yield of 5.42%. Veren's payout ratio is presently -412.50%.

Hedge Funds Weigh In On Veren

Several hedge funds have recently modified their holdings of VRN. Dixon Mitchell Investment Counsel Inc. acquired a new stake in shares of Veren in the second quarter valued at $36,000. EverSource Wealth Advisors LLC acquired a new stake in Veren in the 2nd quarter valued at about $42,000. Pacifica Partners Inc. bought a new position in shares of Veren during the 2nd quarter valued at about $61,000. Fifth Third Bancorp acquired a new position in shares of Veren in the 2nd quarter worth approximately $85,000. Finally, Oliver Lagore Vanvalin Investment Group bought a new stake in shares of Veren in the 2nd quarter worth approximately $103,000. 49.37% of the stock is currently owned by institutional investors and hedge funds.

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.