Veren (TSE:VRN) Given New C$9.75 Price Target at Royal Bank of Canada

Veren (TSE:VRN - Get Free Report) had its price target dropped by investment analysts at Royal Bank of Canada from C$10.00 to C$9.75 in a report released on Tuesday,BayStreet.CA reports. The brokerage currently has an "outperform" rating on the stock. Royal Bank of Canada's target price would suggest a potential upside of 11.17% from the stock's current price.

Other research analysts have also recently issued reports about the company. ATB Capital lowered their price objective on Veren from C$11.00 to C$9.50 in a research report on Tuesday. CIBC lowered their price objective on Veren from C$13.00 to C$12.50 in a research report on Friday, January 17th. Finally, National Bankshares upped their target price on Veren from C$12.50 to C$13.00 and gave the company an "outperform" rating in a research report on Thursday, January 30th. Six equities research analysts have rated the stock with a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat, Veren currently has an average rating of "Buy" and a consensus price target of C$11.74.

Veren Price Performance

Shares of TSE:VRN traded up C$0.12 on Tuesday, hitting C$8.77. 6,333,556 shares of the company's stock were exchanged, compared to its average volume of 5,067,412. The stock's 50-day moving average is C$7.58. The stock has a market capitalization of C$5.37 billion and a P/E ratio of 4.99. Veren has a 1-year low of C$6.34 and a 1-year high of C$12.67.

About Veren

Veren Inc explores, develops, and produces oil and gas properties in Canada and the United States. The company focuses on crude oil, tight oil, natural gas liquids, shale gas, and natural gas reserves. Its properties are located in the provinces of Saskatchewan, Alberta, British Columbia, and Manitoba; and the states of North Dakota.