Atb Cap Markets Weighs in on Veren Inc.’s FY2024 Earnings (NYSE:VRN)

Veren Inc. (NYSE:VRN) – Equities researchers at Atb Cap Markets cut their FY2024 earnings per share (EPS) estimates for shares of Veren in a research note issued to investors on Wednesday, September 25th. Atb Cap Markets analyst A. Arif now forecasts that the company will post earnings of $0.91 per share for the year, down from their previous forecast of $0.92. The consensus estimate for Veren’s current full-year earnings is $1.00 per share. Atb Cap Markets also issued estimates for Veren’s Q3 2025 earnings at $0.17 EPS, FY2025 earnings at $0.75 EPS, FY2026 earnings at $0.41 EPS and FY2027 earnings at $0.18 EPS.

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

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

Veren Stock Up 1.3 %

NYSE VRN opened at $6.15 on Friday. Veren has a 52 week low of $6.03 and a 52 week high of $9.28. The company has a debt-to-equity ratio of 0.36, a quick ratio of 0.49 and a current ratio of 0.49. The business’s fifty day moving average is $6.95. The stock has a market cap of $3.80 billion, a price-to-earnings ratio of -76.88 and a beta of 2.16.

Institutional Trading of Veren

A number of hedge funds and other institutional investors have recently modified their holdings of VRN. CIBC Asset Management Inc acquired a new stake in shares of Veren during the 2nd quarter worth about $155,853,000. Ninepoint Partners LP acquired a new stake in shares of Veren during the 2nd quarter worth about $125,920,000. Bank of Montreal Can acquired a new stake in shares of Veren during the 2nd quarter worth about $105,665,000. Dimensional Fund Advisors LP acquired a new stake in shares of Veren during the 2nd quarter worth about $79,409,000. Finally, Millennium Management LLC acquired a new stake in shares of Veren during the 2nd quarter worth about $74,306,000. 49.37% of the stock is owned by institutional investors and hedge funds.

Veren Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, October 1st. Investors of record on Sunday, September 15th will be given a dividend of $0.0834 per share. This represents a $0.33 dividend on an annualized basis and a dividend yield of 5.42%. This is an increase from Veren’s previous quarterly dividend of $0.08. The ex-dividend date is Friday, September 13th. Veren’s dividend payout ratio (DPR) is presently -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.