Veren (NYSE:VRN) Posts Earnings Results, Beats Expectations By $0.08 EPS

Veren (NYSE:VRN) issued its earnings results on Thursday. The company reported $0.29 EPS for the quarter, beating analysts’ consensus estimates of $0.21 by $0.08, Zacks reports. Veren had a return on equity of 12.23% and a net margin of 26.93%.

Veren Stock Up 8.8 %

NYSE:VRN traded up $0.43 during trading hours on Thursday, hitting $5.25. 28,797,530 shares of the company’s stock traded hands, compared to its average volume of 17,088,395. The stock’s fifty day moving average price is $5.19 and its two-hundred day moving average price is $5.74. The firm has a market cap of $3.21 billion, a P/E ratio of 3.75 and a beta of 2.10. The company has a debt-to-equity ratio of 0.34, a quick ratio of 0.88 and a current ratio of 0.88. Veren has a twelve month low of $4.39 and a twelve month high of $9.28.

Analysts Set New Price Targets

Separately, Royal Bank of Canada reduced their price objective on shares of Veren from $12.00 to $10.00 and set an “outperform” rating for the company in a report on Friday, November 1st.

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.