Veren (NYSE:VRN) Upgraded by Raymond James to “Strong-Buy”

Veren (NYSE:VRN) was upgraded by equities researchers at Raymond James to a “strong-buy” rating in a research report issued to clients and investors on Thursday, Zacks.com reports.

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

Veren Stock Down 1.4 %

Shares of NYSE:VRN opened at $6.03 on Thursday. The firm has a market capitalization of $3.73 billion, a price-to-earnings ratio of -75.31 and a beta of 2.14. Veren has a 12 month low of $5.95 and a 12 month high of $9.28. The stock’s fifty day moving average is $6.67. 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 released its quarterly earnings results on Thursday, July 25th. The company reported $0.28 earnings per share (EPS) for the quarter, meeting the consensus estimate of $0.28. The firm had revenue of $852.57 million for the quarter, compared to the consensus estimate of $821.00 million. Veren had a positive return on equity of 13.50% and a negative net margin of 0.69%. Research analysts expect that Veren will post 0.99 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Veren

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