Veren Inc. (NYSE:CPG) shares, rose in value, with the stock price up by 0.11% to the previous day’s close as strong demand from buyers drove the stock to $8.81.
Actively observing the price movement in the last trading, the stock closed the session at $8.80. The value of beta (5-year monthly) was 2.88 whereas the PE ratio was 12.61 over 12-month period. Referring to stock’s 52-week performance, its high was $8.80, and the low was $6.03. On the whole, CPG has fluctuated by 17.31% over the past month.
With the market capitalization of Veren Inc. currently standing at about $5.46 billion, investors are eagerly awaiting this quarter’s results, scheduled for May 10, 2024 – May 14, 2024. The company’s Forward Dividend Ratio is 0.31, with its dividend yield at 3.51%.
Revisions could be a useful indicator to get insight on short-term price movement; so for the company, there were no upward and no downward review(s) in last seven days. We see that CPG’s technical picture suggests that short-term indicators denote the stock is a 100% Buy on average. However, medium term indicators have put the stock in the category of Hold while long term indicators on average have been pointing out that it is a 50% Buy.
The stock’s technical analysis shows that the PEG ratio is about 1.80, with the price of CPG currently trading nearly 11.50% and 22.44% away from the simple moving averages for 20 and 50 days respectively. The Relative Strength Index (RSI, 14) currently indicates a reading of 83.34, while the 7-day volatility ratio is showing 2.62% which for the 30-day chart, stands at 2.28%. Furthermore, Veren Inc. (CPG)’s beta value is 2.22, and its average true range (ATR) is 0.20.
A comparison of Veren Inc. (CPG) with its peers suggests the former has fared considerably weaker in the market. CPG showed an intraday change of 0.11% in last session, and over the past year, it grew by 16.84%%.
Data on historical trading for Veren Inc. (NYSE:CPG) indicates that the trading volumes over the past 10 days have averaged 6.04 million and over the past 3 months, they’ve averaged 5.84 million. According to company’s latest data on outstanding shares, there are 619.93 million shares outstanding.
Nearly 7.43% of Veren Inc.’s shares belong to company insiders and institutional investors own 39.63% of the company’s shares. The data on short interest also indicates that stock shorts accounted for 17.05 million shares as on Mar 15, 2024, resulting in a short ratio of 3.13. According to the data, the short interest in Veren Inc. (CPG) stood at 3.39% of shares outstanding as of Mar 15, 2024; the number of short shares registered in Feb 15, 2024 reached 11.36 million. The stock has risen by 27.13% since the beginning of the year, thereby showing the potential of a further growth. This could raise investors’ confidence to be optimistic about the CPG stock heading into the next quarter.
