Veren (NYSE:VRN) Earns Strong-Buy Rating from Analysts at Raymond James

Investment analysts at Raymond James began coverage on shares of Veren (NYSE:VRN) in a research report issued on Friday, Briefing.com reports. The brokerage set a “strong-buy” rating on the stock.

Separately, Scotiabank decreased their price objective 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 Price Performance

VRN stock opened at $6.11 on Friday. The business has a 50 day moving average of $6.69. The stock has a market cap of $3.78 billion, a PE ratio of -76.38 and a beta of 2.14. Veren has a one year low of $6.01 and a one year high of $9.28. 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 (NYSE:VRN) last announced its earnings results on Thursday, July 25th. The company reported $0.28 earnings per share (EPS) 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 company had revenue of $852.57 million during the quarter, compared to analyst estimates of $821.00 million. On average, research analysts expect that Veren will post 0.99 EPS for the current fiscal year.

Hedge Funds Weigh In On Veren

A number of large investors have recently added to or reduced their stakes in the business. Dixon Mitchell Investment Counsel Inc. purchased a new stake in Veren during the second quarter valued at about $36,000. EverSource Wealth Advisors LLC purchased a new stake in Veren during the 2nd quarter valued at about $42,000. Pacifica Partners Inc. bought a new position in Veren during the 2nd quarter worth approximately $61,000. Fifth Third Bancorp purchased a new position in Veren in the 2nd quarter worth approximately $85,000. Finally, Oliver Lagore Vanvalin Investment Group bought a new stake in Veren in the second quarter valued at approximately $103,000. Hedge funds and other institutional investors 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.