Q4 2024 EPS Estimates for Veren Inc. (NYSE:VRN) Cut by Atb Cap Markets

Veren Inc. (NYSE:VRN - Free Report) - Atb Cap Markets reduced their Q4 2024 earnings per share estimates for Veren in a note issued to investors on Wednesday, September 25th. Atb Cap Markets analyst A. Arif now anticipates that the company will post earnings per share of $0.23 for the quarter, down from their prior estimate of $0.24. The consensus estimate for Veren's current full-year earnings is $1.00 per share. Atb Cap Markets also issued estimates for Veren's Q4 2025 earnings at $0.18 EPS.

Separately, Scotiabank cut their target price on Veren from $16.00 to $15.00 and set a "sector outperform" rating on the stock in a research note on Friday, July 12th.

Veren Price Performance

VRN remained flat at $6.15 during trading on Monday. 4,410,981 shares of the company's stock traded hands, compared to its average volume of 4,332,687. The company has a market capitalization of $3.80 billion, a P/E ratio of -76.75 and a beta of 2.16. Veren has a fifty-two week low of $6.03 and a fifty-two week high of $9.28. The company has a current ratio of 0.49, a quick ratio of 0.49 and a debt-to-equity ratio of 0.36. The business's 50-day moving average is $6.95.

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

Hedge Funds Weigh In On Veren

Several hedge funds have recently made changes to their positions in VRN. CIBC Asset Management Inc purchased a new position in shares of Veren during the second quarter valued at approximately $155,853,000. Ninepoint Partners LP purchased a new position in shares of Veren during the second quarter valued at approximately $125,920,000. Bank of Montreal Can purchased a new position in shares of Veren during the second quarter valued at approximately $105,665,000. Dimensional Fund Advisors LP purchased a new position in shares of Veren during the second quarter valued at approximately $79,409,000. Finally, Millennium Management LLC purchased a new position in shares of Veren during the second quarter valued at approximately $74,306,000. 49.37% of the stock is owned by hedge funds and other institutional investors.

Veren Increases Dividend

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

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.