Atb Cap Markets Analysts Decrease Earnings Estimates for Veren Inc. (NYSE:VRN)

Veren Inc. (NYSE:VRN) – Equities research analysts at Atb Cap Markets cut their Q3 2024 earnings per share estimates for Veren in a report released on Monday, September 9th. Atb Cap Markets analyst A. Arif now expects that the company will post earnings of $0.18 per share for the quarter, down from their prior estimate of $0.21. The consensus estimate for Veren’s current full-year earnings is $1.10 per share. Atb Cap Markets also issued estimates for Veren’s Q4 2024 earnings at $0.24 EPS and Q4 2025 earnings at $0.19 EPS.

Separately, Scotiabank dropped their price target on Veren from $16.00 to $15.00 and set a “sector outperform” rating for the company in a report on Friday, July 12th.

Veren Trading Down 1.1 %

NYSE VRN opened at $6.27 on Wednesday. The firm has a market capitalization of $3.87 billion, a price-to-earnings ratio of -78.37 and a beta of 2.16. The company has a current ratio of 0.49, a quick ratio of 0.49 and a debt-to-equity ratio of 0.36. Veren has a 1-year low of $6.03 and a 1-year high of $9.28. The business’s 50 day moving average price is $7.37.

Veren (NYSE:VRN) last posted its earnings results on Thursday, July 25th. The company reported $0.28 earnings per share for the quarter, hitting the consensus estimate of $0.28. Veren had a negative net margin of 0.69% and a positive return on equity of 13.50%. The business had revenue of $852.57 million for the quarter, compared to analyst estimates of $821.00 million.

Veren Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Tuesday, October 1st. Shareholders of record on Sunday, September 15th will be paid a $0.0834 dividend. The ex-dividend date of this dividend is Friday, September 13th. This is an increase from Veren’s previous quarterly dividend of $0.08. This represents a $0.33 dividend on an annualized basis and a dividend yield of 5.32%. Veren’s payout ratio is currently -424.95%.

Institutional Inflows and Outflows

Institutional investors have recently bought and sold shares of the stock. Dixon Mitchell Investment Counsel Inc. acquired a new position in Veren in the second quarter valued at approximately $36,000. EverSource Wealth Advisors LLC bought a new stake in shares of Veren during the 2nd quarter valued at $42,000. Pacifica Partners Inc. bought a new position in shares of Veren in the 2nd quarter worth $61,000. Fifth Third Bancorp acquired a new stake in shares of Veren during the second quarter worth $85,000. Finally, Oliver Lagore Vanvalin Investment Group bought a new stake in Veren in the second quarter valued at about $103,000. Institutional investors own 49.37% of the company’s stock.

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.