Equities research analysts at Raymond James started coverage on shares of Veren (NYSE:VRN - Get Free Report) in a research report issued on Friday, Marketbeat.com reports. The brokerage set a "strong-buy" rating and a $13.00 price target on the stock. Raymond James' target price indicates a potential upside of 115.77% from the company's current price.
Separately, Scotiabank decreased their target price on Veren from $16.00 to $15.00 and set a "sector outperform" rating for the company in a research note on Friday, July 12th.
Get Our Latest Report on Veren
Veren Stock Down 1.4 %
NYSE VRN traded down $0.08 on Friday, reaching $6.03. The company had a trading volume of 4,992,098 shares, compared to its average volume of 4,417,310. The company has a 50 day moving average of $6.67. The company has a market capitalization of $3.73 billion, a PE ratio of -75.31 and a beta of 2.14. The company has a debt-to-equity ratio of 0.36, a quick ratio of 0.49 and a current ratio of 0.49. Veren has a 52 week low of $5.95 and a 52 week high of $9.28.
Veren (NYSE:VRN - Get Free Report) last released its quarterly earnings data on Thursday, July 25th. The company reported $0.28 EPS for the quarter, meeting analysts' consensus estimates of $0.28. The business had revenue of $852.57 million during the quarter, compared to the consensus estimate of $821.00 million. Veren had a positive return on equity of 13.50% and a negative net margin of 0.69%. As a group, analysts forecast that Veren will post 0.99 EPS for the current year.
Institutional Inflows and Outflows
A number of institutional investors and hedge funds have recently added to or reduced their stakes in the business. CIBC Asset Management Inc acquired a new position in Veren in the second quarter valued at about $155,853,000. Ninepoint Partners LP acquired a new position in shares of Veren during the second quarter worth about $125,920,000. Bank of Montreal Can acquired a new position in shares of Veren during the second quarter worth about $105,665,000. Dimensional Fund Advisors LP acquired a new position in shares of Veren during the second quarter worth about $79,409,000. Finally, Millennium Management LLC acquired a new position in shares of Veren during the second quarter worth about $74,306,000. 49.37% of the stock is owned by institutional investors and hedge funds.
Veren Company Profile
(
Get Free Report)
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.
See Also
Before you consider Veren, you'll want to hear this.
MarketBeat keeps track of Wall Street's top-rated and best performing research analysts and the stocks they recommend to their clients on a daily basis. MarketBeat has identified the five stocks that top analysts are quietly whispering to their clients to buy now before the broader market catches on... and Veren wasn't on the list.
While Veren currently has a "Buy" rating among analysts, top-rated analysts believe these five stocks are better buys.
View The Five Stocks Here
As the AI market heats up, investors who have a vision for artificial intelligence have the potential to see real returns. Learn about the industry as a whole as well as seven companies that are getting work done with the power of AI.
Get This Free Report
Like this article? Share it with a colleague.
Link copied to clipboard.
