Brokerages Set Veren Inc. (TSE:VRN) Price Target at C$11.83

Veren Inc. (TSE:VRN - Get Free Report) has been assigned an average recommendation of "Buy" from the seven research firms that are currently covering the firm, MarketBeat reports. Six research analysts have rated the stock with a buy recommendation and one has given a strong buy recommendation to the company. The average twelve-month price objective among brokerages that have issued ratings on the stock in the last year is C$11.83.

Several equities analysts recently weighed in on the stock. National Bankshares raised their price target on shares of Veren from C$12.50 to C$13.00 and gave the company an "outperform" rating in a research report on Thursday, January 30th. CIBC dropped their price target on shares of Veren from C$13.00 to C$12.50 in a research report on Friday, January 17th.

Veren Price Performance

TSE VRN traded up C$0.03 during trading hours on Thursday, hitting C$7.06. The company's stock had a trading volume of 4,689,376 shares, compared to its average volume of 4,161,010. Veren has a 52 week low of C$6.34 and a 52 week high of C$12.67. The stock has a market capitalization of C$4.33 billion and a P/E ratio of 4.02. The company's 50-day moving average price is C$7.49.

Veren Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Tuesday, April 1st. Shareholders of record on Tuesday, April 1st will be given a dividend of $0.115 per share. The ex-dividend date of this dividend is Friday, March 14th. This represents a $0.46 annualized dividend and a dividend yield of 6.52%.

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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.