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

Veren (NYSE:VRN) was upgraded by investment analysts at Raymond James to a “strong-buy” rating in a report issued on Thursday, Zacks.com reports.

Separately, Scotiabank dropped their target price 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 Performance

VRN stock opened at $6.03 on Thursday. The business’s 50 day moving average price is $6.67. The firm has a market cap of $3.73 billion, a P/E ratio of -75.31 and a beta of 2.14. 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 fifty-two week low of $5.95 and a fifty-two week high of $9.28.

Veren (NYSE:VRN) last issued its 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. Veren had a positive return on equity of 13.50% and a negative net margin of 0.69%. The company had revenue of $852.57 million for the quarter, compared to analysts’ expectations of $821.00 million. Equities analysts predict that Veren will post 0.99 earnings per share for the current year.

Institutional Trading of Veren

A number of hedge funds have recently bought and sold shares of VRN. Blue Trust Inc. purchased a new stake in shares of Veren during the 3rd quarter valued at $104,000. Creative Planning purchased a new stake in Veren during the second quarter worth about $456,000. Oliver Lagore Vanvalin Investment Group bought a new stake in Veren in the second quarter worth about $103,000. Ninepoint Partners LP purchased a new position in Veren in the second quarter valued at about $125,920,000. Finally, Mackenzie Financial Corp bought a new position in shares of Veren during the 2nd quarter valued at approximately $2,638,000. 49.37% of the stock is currently owned by 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.