Veren Inc T.VRN

Alternate Symbol(s): VRN

Energy Oil & Gas E&P

Veren Inc. is a Canada-based oil producer with assets in central Alberta and southeast and southwest Saskatchewan. The principal activities of the Company are acquiring, developing and holding interests in petroleum and natural gas properties and assets related thereto through a general partnership and wholly owned subsidiaries. Its core operational areas include Kaybob Duvernay and Alberta Montney, Shaunavon and Viewfield Bakken. Its Kaybob Duvernay is situated in the heart of the condensate rich fairway, Central Alberta, which provides low risk drilling inventory. Its Alberta Montney assets sit adjacent to its Kaybob Duvernay lands, possessing similar resource characteristics including pay thickness and permeability in the volatile oil fairway of the reservoir. Its Shaunavon resource play is located in southwest Saskatchewan. The Viewfield Bakken light oil pool is located in Saskatchewan.

TSX:VRN - Post by User

Veren Inc

<< Previous

Bullboard Posts

Next >>

Post by NonCredibleSrcon Oct 08, 2021 9:49am

221 Views

Post# 33988045

CPG BUY re-iterated!

Crescent Point Energy Buy Rating Reiterated at TPH, Target Price Raised, Ahead of Q3 Results

2021-10-08 09:45:06 AM ET (MT Newswires)

09:45 AM EDT, 10/08/2021 (MT Newswires) -- Tudor, Pickering and Holt on Friday reiterated its buy rating on the shares of Crescent Point Energy (CPG.TO) and raised its target price to C$7.00 from C$6.00 ahead of the oil and gas producer's third-quarter results.
"Fine tuning our model ahead of third quarter earnings later this month has our cash flow estimate sitting modestly ahead of latest Street estimates on in-line volumes," analyst Matt Murphy said in a note. "For the quarter, we're forecasting production of 131mboepd (Street 132mboepd), with our modeled liquids weight shifting lower to ~84% as the disposition of the SE Saskatchewan conventional assets is fully reflected in the quarter, with cash flow of C$0.69/shr sitting modestly ahead of latest Street estimates in the C$0.66/shr range. On capex, we model C$224MM of spending in the quarter (~C$200MM D&C capex) relative to the Street at C$236MM, driving pre-dividend free cash flow of C$179MM. With a preliminary 2022 budget and dividend increase announcement provided with the company's mid-quarter update, we're expecting little in the way of surprises with the Q3 release, and expect focus to remain on the company's deleveraging efforts as we await greater clarity on the company' s approach to returns to shareholders. On strip pricing, we model CPG reaching its 1.0x net debt/EBITDA target in the Q1'22 timeframe, at which point we expect the returns to shareholders discussions to take center stage, with the potential for a continued increase to the base dividend combined with a share buyback program."
(MT Newswires covers equity, commodity and economic research from major banks and research firms in North America, Asia and Europe. Research providers may contact us here: https://www.mtnewswires.com/contact-us)
Price: 6.46, Change: +0.16, Percent Change: +2.54