Veren (NYSE:VRN) Releases 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, topping the consensus estimate 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 9.4 %

Shares of Veren stock traded up $0.46 on Thursday, hitting $5.28. 20,028,870 shares of the company traded hands, compared to its average volume of 16,830,889. Veren has a 12-month low of $4.39 and a 12-month high of $9.28. The company has a quick ratio of 0.88, a current ratio of 0.88 and a debt-to-equity ratio of 0.34. The company has a market cap of $3.23 billion, a PE ratio of 3.78 and a beta of 2.10. The company has a 50-day moving average price of $5.19 and a 200 day moving average price of $5.74.

Wall Street Analyst Weigh In

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

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.