10 Firms Stayed Strong Amid Market Bloodbath

6. Veren Inc. (NYSE:VRN)

Veren Inc., 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, 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, 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. 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.