At the time of writing, Veren Inc. [CPG] stock is trading at $8.06, up 1.51%. An important factor to consider is whether the stock is rising or falling in short-term value. The CPG shares have gain 2.03% over the last week, with a monthly amount glided 12.89%, and seem to be holding up well over a long-time horizon.
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On 20, March 2024, Crescent Point Plans Name Change to Veren. In a post published today on Yahoo Finance, Crescent Point Energy Corp. (“Crescent Point” or the “Company”) (TSX: CPG) (NYSE: CPG) announced today that it intends to change its name to Veren Inc. (“Veren”) and will seek shareholder approval for the change at its upcoming Annual and Special Meeting of Shareholders (“AGM”) on May 10, 2024.
From an analyst’s perspective:
Previously, Scotiabank upgraded its rating to Sector Outperform on June 08, 2022. On June 10, 2021, upgrade upgraded it’s rating to Outperform. Scotiabank upgraded its rating to a Sector Outperform. BMO Capital Markets upgraded its rating to a Outperform. Canaccord Genuity upgraded its rating to Buy for this stock on January 07, 2021. In a note dated December 16, 2020, CIBC upgraded an Sector Outperform rating on this stock.
For the past year, the stock price of Veren Inc. fluctuated between $6.03 and $8.57. Veren Inc. [NYSE: CPG] shares were valued at $8.06 at the most recent close of the market.
Analyzing the CPG fundamentals
According to Veren Inc. [NYSE:CPG], the company’s sales were 2.53B for trailing twelve months, which represents an -5.94% plunge. Gross Profit Margin for this corporation currently stands at 0.67% with Operating Profit Margin at 0.35%, Pretax Profit Margin comes in at 0.33%, and Net Profit Margin reading is 0.17%. To continue investigating profitability, this company’s Return on Assets is posted at 0.04, Equity is 0.09 and Total Capital is 0.1. An extended analysis of the company’s primary financial structure reveals a debt-to-equity ratio of0.54.
Before buying any particular stock, readers tend to pay close attention to the indicators that support and create resistance. The company’s stock is currently sitting at 7.85 points at the first support level, and at 7.64 for the second support level. However, for the 1st resistance point, the stock is sitting at 8.17, and for the 2nd resistance point, it is at 8.28.
Veren Inc. [CPG] reported earnings per share of $1.25 for its fiscal quarter that ended on 12/30/2023. Based on the Wall Street analysts’ estimates, the company was expected to report earnings of $0.28/share, meaning a difference of $0.97 and a surprise factor of 346.40%. By comparison, the stated earnings for the previous quarter ended on 9/29/2023 were -$1.13 per share as compared to estimates of $0.35 per share, a difference of -$1.48 representing a surprise of -422.90%.
Ratios To Look Out For
It is important to note that Veren Inc. [NYSE:CPG] has a current ratio of 0.76. On the other hand, the Quick Ratio is 0.76, and the Cash Ratio is 0.01. Considering the valuation of this stock, the price to sales ratio is 1.97, the price to book ratio is 0.96 and price to earnings (TTM) ratio is 11.54.
