Veren (NYSE:VRN) Upgraded by Raymond James to Strong-Buy

Veren (NYSE:VRN - Get Free Report) was upgraded by investment analysts at Raymond James to a "strong-buy" rating in a research report issued to clients and investors on Thursday, MarketBeat Ratings reports.

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

Veren Price Performance

Shares of VRN stock traded down $0.08 on Thursday, hitting $6.03. The stock had a trading volume of 4,992,667 shares, compared to its average volume of 4,417,310. The firm has a 50 day moving average of $6.67. Veren has a 1 year low of $5.95 and a 1 year high of $9.28. The company has a debt-to-equity ratio of 0.36, a current ratio of 0.49 and a quick ratio of 0.49. The firm has a market capitalization of $3.73 billion, a price-to-earnings ratio of -75.38 and a beta of 2.14.

Veren (NYSE:VRN - Get Free Report) last issued its quarterly earnings results on Thursday, July 25th. The company reported $0.28 earnings per share (EPS) for the quarter, hitting analysts' consensus estimates of $0.28. The company had revenue of $852.57 million for the quarter, compared to analyst estimates of $821.00 million. Veren had a negative net margin of 0.69% and a positive return on equity of 13.50%. On average, equities analysts forecast that Veren will post 0.99 EPS for the current year.

Institutional Trading of Veren

Large investors have recently made changes to their positions in the company. Blue Trust Inc. acquired a new position in shares of Veren during the third quarter worth $104,000. Creative Planning acquired a new position in shares of Veren during the 2nd quarter worth about $456,000. Oliver Lagore Vanvalin Investment Group purchased a new position in shares of Veren in the 2nd quarter valued at about $103,000. Ninepoint Partners LP acquired a new stake in shares of Veren during the 2nd quarter worth about $125,920,000. Finally, Mackenzie Financial Corp acquired a new stake in shares of Veren during the 2nd quarter worth about $2,638,000. 49.37% of the stock is currently owned by hedge funds and other institutional investors.

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.