Veren (NYSE:VRN) Announces Quarterly Earnings Results

Veren (NYSE:VRN) announced its quarterly earnings results on Thursday. The company reported $0.29 earnings per share for the quarter, topping analysts’ consensus estimates 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 Performance

NYSE:VRN traded up $0.46 during mid-day trading on Thursday, hitting $5.28. 20,028,870 shares of the company’s stock traded hands, compared to its average volume of 16,830,889. The firm has a market capitalization of $3.23 billion, a price-to-earnings ratio of 3.78 and a beta of 2.10. The firm has a 50 day moving average of $5.19 and a two-hundred day moving average of $5.74. The company has a current ratio of 0.88, a quick ratio of 0.88 and a debt-to-equity ratio of 0.34. Veren has a 12 month low of $4.39 and a 12 month high of $9.28.

Analyst Upgrades and Downgrades

Separately, Royal Bank of Canada lowered their price target on Veren from $12.00 to $10.00 and set an “outperform” rating on the stock in a report on Friday, November 1st.

About Veren

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.