During the last session, Veren Inc. (NYSE:CPG)’s traded shares were 4.18 million, with the beta value of the company hitting 2.21. At the end of the trading day, the stock’s price was $8.80, reflecting an intraday loss of -0.11% or -$0.01. The 52-week high for the CPG share is $8.86, that puts it down -0.68 from that peak though still a striking 31.48% gain since the share price plummeted to a 52-week low of $6.03. The company’s market capitalization is $5.46B, and the average intraday trading volume over the past 10 days was 5.92 million shares, and the average trade volume was 5.85 million shares over the past three months.
Veren Inc. (NYSE:CPG) trade information
Veren Inc. (CPG) registered a -0.11% downside in the last session and has traded in the green over the past 5 sessions. The stock plummet -0.11% in intraday trading to $8.80, hitting a weekly high. The stock’s 5-day price performance is 7.45%, and it has moved by 16.40% in 30 days. Based on these gigs, the overall price performance for the year is 17.80%. The short interest in Veren Inc. (NYSE:CPG) is 17.05 million shares and it means that shorts have 3.13 day(s) to cover.
Veren Inc. (CPG) estimates and forecasts
Statistics show that Veren Inc. has outperformed its competitors in share price, compared to the industry in which it operates. Veren Inc. (CPG) shares have gone up 17.74% during the last six months, with a year-to-date growth rate more than the industry average at 13.08% against -6.80. Yet analysts are ramping up their growth forecast for the fiscal year 2024. Revenue is predicted to shrink -10.30% this quarter and then drop -10.30% in the quarter after that. In the rating firms’ projections, revenue will increase 35.00% compared to the previous financial year.
Revenue for the current quarter is expected to be $747.05 million as predicted by 3 analyst(s). Meanwhile, a consensus of 3 analyst(s) estimates revenue growth to $765.73 million by the end of Jun 2024. As per earnings report from last fiscal year’s results, sales for the corresponding quarters totaled $627.93 million and $672.05 million respectively. In this case, analysts expect current quarter sales to grow by 19.00% and then jump by 13.90% in the coming quarter.
While earnings are projected to return 46.09% in 2024, the next five years will return 7.00% per annum.
CPG Dividends
Veren Inc. is due to release its next quarterly earnings on May 10. However, it is important to remember that the dividend yield ratio is merely an indicator meant to only serve as guidance. Investors should also take the other fundamental and operational aspects into account before investing in the stock. The forward dividend ratio for Veren Inc. is 0.31, with the dividend yield indicating at 3.51 percent, continuing the trend of increasing dividends in recent years.
Veren Inc. (NYSE:CPG)’s Major holders
Veren Inc. insiders own 0.23% of total outstanding shares while institutional holders control 47.25%, with the float percentage being 47.36%. Franklin Resources, Inc. is the largest shareholder of the company, while 272 institutions own stock in it. As of Jun 29, 2023, the company held over 22.06 million shares (or 4.18% of all shares), a total value of $148.43 million in shares.
The next largest institutional holding, with 18.67 million shares, is of Vanguard Group Inc’s that is approximately 3.54% of outstanding shares. At the market price on Jun 29, 2023, these shares were valued at $125.66 million.
Also, the Mutual Funds coming in first place with the largest holdings of Veren Inc. (CPG) shares are Franklin Value Investors Trust-Franklin Small Cap Value and DFA International Small Cap Value Portfolio. Data provided on Jul 30, 2023 indicates that Franklin Value Investors Trust-Franklin Small Cap Value owns about 15.34 million shares. This amounts to just over 2.91 percent of the company’s overall shares, with a $124.43 million market value. The same data shows that the other fund manager holds slightly less at 10.78 million, or about 2.04% of the stock, which is worth about $87.43 million.
