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

Veren Inc. (NYSE:VRN) – Equities researchers at Atb Cap Markets dropped their FY2024 EPS estimates for shares of Veren in a note issued to investors on Wednesday, September 25th. Atb Cap Markets analyst A. Arif now expects that the company will post earnings per share of $0.91 for the year, down from their prior 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.

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

Veren Price Performance

Shares of NYSE VRN opened at $6.15 on Friday. The firm has a market cap of $3.80 billion, a PE ratio of -76.88 and a beta of 2.16. Veren has a 12 month low of $6.03 and a 12 month high of $9.28. The stock’s 50 day moving average price is $6.95. The company has a quick ratio of 0.49, a current ratio of 0.49 and a debt-to-equity ratio of 0.36.

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

Veren Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Tuesday, October 1st. Investors 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 represents a $0.33 dividend on an annualized basis and a yield of 5.42%. This is a boost from Veren’s previous quarterly dividend of $0.08. Veren’s dividend payout ratio (DPR) is currently -412.50%.

Institutional Investors Weigh In On Veren

A number of institutional investors have recently added to or reduced their stakes in VRN. CIBC Asset Management Inc acquired a new stake in Veren in the 2nd quarter valued at $155,853,000. Ninepoint Partners LP acquired a new stake in Veren in the 2nd quarter valued at $125,920,000. Bank of Montreal Can purchased a new position in Veren in the 2nd quarter valued at $105,665,000. Dimensional Fund Advisors LP purchased a new position in Veren in the 2nd quarter valued at $79,409,000. Finally, Millennium Management LLC purchased a new position in Veren in the 2nd quarter valued at $74,306,000. Institutional investors and hedge funds own 49.37% of the company’s stock.

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.