We recently compiled a list of the 10 Firms Stayed Strong Amid Market Bloodbath. In this article, we are going to take a look at where Veren Inc. (NYSE:VRN) stands against the other stocks.
The stock market ended in a bloodbath on Thursday, with all major indices finishing in the red, as investors turned cautious anew over President Donald Trump’s tariff imposition on goods from more countries.
The Dow Jones dropped by 0.45 percent, while the S&P declined 1.59 percent. Nasdaq, on the other hand, lost 2.78 percent.
On Thursday, Trump threatened to slap EU products with a 25-percent tariff, following his announcement on Wednesday of another month of delay for the imposition of taxes on goods from Mexico and Canada.
Meanwhile, ten companies defied broader market pessimism, posting strong gains during the day.
To come up with Thursday’s top gainers, we considered only the stocks with $2 billion in market capitalization and $5 million in daily trading volume.
A vertical offshore oil rig in the middle of a calm sea, symbolizing the company’s oil and gas exploration.
Veren Inc. (NYSE:VRN)
Veren Inc. (NYSE:VRN), formerly Crescent Point Energy, rose by 8.92 percent on Thursday to end at $5.25 each as investors cheered news of improved oil and gas production, shunning the company’s dismal earnings performance last year.
In its latest earnings release, Veren Inc. (NYSE:VRN) said oil and gas sales for the quarter improved by 9 percent to $1.034 billion from $946.7 million, pushing the full-year sales from the same segment by 22 percent to $4.271 billion from $3.499 billion in 2023.
Net income, on the other hand, dropped by 85 percent to $146.8 million from $951.2 million for the quarter, while net profit for the full year declined by 52 percent to $273.3 million from $570.3 million year-on-year.
For 2025, Veren Inc. (NYSE:VRN) said it kicked off the year strong, generating 191,000 barrels of oil equivalent per day in January alone.
“The Company remains on track to meet its previously released full year annual average production guidance of 188,000 to 196,000 boe/d (65% oil and liquids), based on its development capital expenditures budget of $1.48 billion to $1.58 billion. Veren Inc. (NYSE:VRN)’s capital program is weighted to the first half of 2025, while its production is weighted to the second half of the year due to the timing of its development program and planned facilities downtime in early 2025,” it said.
Overall VRN ranks 6th on our list of Thursday’s top gainers. While we acknowledge the potential of VRN as an investment, our conviction lies in the belief that some AI stocks hold greater promise for delivering higher returns and doing so within a shorter time frame. If you are looking for an AI stock that is as promising as VRN but trades at less than 5 times its earnings, check out our report about the cheapest AI stock.
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Disclosure: None. This article is originally published at Insider Monkey.
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