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Veren Inc T.VRN

Alternate Symbol(s):  VRN

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

Comment by Anschutzon Oct 31, 2024 8:49pm
317 Views
Post# 36291662

RE:TD has just updated its research on VRN

RE:TD has just updated its research on VRN

Hear me now believe me later...

Today's volume was 17,632,714.  Significantly higher than the daily average. 

Almost exactly one year ago, Bryska and board flooded the market with an additional 48,550,000 shares. All of these shares are significantly underwater. The current float sits at 615,539,646. Many of these shares are also underwater.

Between excess global supply, slowing economies, higher inflation, higher US rates, forecast of a Trump win, and we're on the cusp of a perfect storm that could result in a tax loss selling season for VRN the likes we've never seen.

Tread and trade carefully.  Big money ran for the exits today.  More will likely follow suit before the end of December.  The market spoke today that they have lost confidence in VRN and management.

Income wrote: It remains a BUY with a reduced price target of $12 (previously $15). It appears inexpensive to me. As a newcomer to this stock, I have been purchasing shares. Today's overreaction should subside. It seems as though all the sellers have exited.


 

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