Veren Inc. (NYSE: CPG): Get Ready For The Next Few Months

In the last trading session, 4.99 million shares of the Veren Inc. (NYSE:CPG) were traded, and its beta was 2.24. Most recently the company’s share price was $8.17, and it changed around -$0.02 or -0.24% from the last close, which brings the market valuation of the company to $5.06B. CPG currently trades at a discount to its 52-week high of $8.57, offering almost -4.9% off that amount. The share price’s 52-week low was $6.03, which indicates that the current value has risen by an impressive 26.19% since then. We note from Veren Inc.’s average daily trading volume that its 10-day average is 5.56 million shares, with the 3-month average coming to 5.64 million.

Veren Inc. stock received a consensus recommendation rating of Hold, based on a mean score of 1.20. If we narrow it down even further, the data shows that 0 out of 1 analysts rate the stock as a Sell; another 0 rate it as Overweight. Among the rest, 1 recommended CPG as a Hold, whereas 0 deemed it a Buy, and 0 rated it as Underweight. Veren Inc. is expected to report earnings per share of $0.26 for the current quarter.

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Veren Inc. (NYSE:CPG) trade information

Instantly CPG has showed a red trend with a performance of -0.24% at the end of last trading. The performance over the last five days has remained in the green territory. The company’s shares are currently up 17.89% year-to-date, but still up 4.88% over the last five days. On the other hand, Veren Inc. (NYSE:CPG) is 11.92% up in the 30-day period. We can see from the shorts that 17.05 million shares have been sold at a short interest cover period of 3.13 day(s).

Veren Inc. (CPG) estimates and forecasts

Veren Inc. share prices are performing particularly well compared to other companies within the same industry. As is evident from the statistics, the company’s shares have fallen -2.07 percent over the past six months and at a 13.08% annual growth rate that is well above the industry average of -5.20%. Moreover, analysts have decided to roll up on their fiscal year 2024 revenue estimates. The rating firms predict that it will loss -10.30% in revenue this quarter, and will report a decrease of -10.30% in the next quarter. The year-over-year growth rate is expected to be 35.00%, up from the previous year.

Consensus estimates provided by 3 financial analysts predict the company will bring in an average of $747.77 million in revenue for the current quarter. 3 analysts expect Veren Inc. to make $766.47 million in revenue for the quarter ending Jun 2024. The company’s sales for the same quarters a year ago were $627.93 million and $672.05 million respectively. Analysts predict that the company’s current quarter sales will jump, forecast at 19.10%. Forecasts for the next quarter put sales growth at 14.00%.

Veren Inc. earnings are expected to increase by 44.52% in 2024, but the outlook is positive 7.00% per year for the next five years.

CPG Dividends

Veren Inc.’s next quarterly earnings report is expected to be released around May 10 and May 14. The annual dividend yield of the stock is 3.78 percent and its annual dividend per share was 0.31. It is important to note, however, that the 3.78% dividend yield ratio should be regarded as a guide only, as many other factors should be taken into consideration before making any investment decision.

Veren Inc. (NYSE:CPG)’s Major holders

Upon looking at major shareholders, it appears that insiders hold 0.23% of Veren Inc. shares, and 47.41% of them are in the hands of institutional investors. The stock currently has a share float of 47.52%. Veren Inc. stock is held by 274 institutions, with Franklin Resources, Inc. being the largest institutional investor. By Jun 29, 2023, it held 4.18% of the shares, which is about 22.06 million shares worth $148.43 million.

Vanguard Group Inc, with 3.54% or 18.67 million shares worth $125.66 million as of Jun 29, 2023, holds the second largest percentage of outstanding shares.

Franklin Value Investors Trust-Franklin Small Cap Value and DFA International Small Cap Value Portfolio were the top two Mutual Funds as of Jul 30, 2023. The former held 15.34 million shares worth $124.43 million, making up 2.91% of all outstanding shares. On the other hand, DFA International Small Cap Value Portfolio held roughly 10.78 million shares worth around $87.43 million, which represents about 2.04% of the total shares outstanding.