Veren Inc. (TSE:VRN - Get Free Report)'s share price shot up 15.9% during trading on Monday . The stock traded as high as C$8.39 and last traded at C$8.18. 14,926,928 shares were traded during trading, an increase of 246% from the average session volume of 4,314,159 shares. The stock had previously closed at C$7.06.
Wall Street Analyst Weigh In
Several research firms have recently commented on VRN. Desjardins lowered shares of Veren from a "buy" rating to a "tender" rating and upped their price target for the stock from C$11.00 to C$12.60 in a research report on Tuesday. National Bankshares upped their price target on shares of Veren from C$12.50 to C$13.00 and gave the stock an "outperform" rating in a research report on Thursday, January 30th. CIBC lowered their price target on shares of Veren from C$13.00 to C$12.50 in a research report on Friday, January 17th. ATB Capital decreased their target price on shares of Veren from C$11.00 to C$9.50 in a research report on Tuesday. Finally, Royal Bank of Canada decreased their target price on shares of Veren from C$10.00 to C$9.75 and set an "outperform" rating for the company in a research report on Tuesday. Six investment analysts have rated the stock with a buy rating and one has given a strong buy rating to the company's stock. Based on data from MarketBeat.com, the stock has a consensus rating of "Buy" and an average target price of C$11.74.
View Our Latest Report on Veren
Veren Price Performance
The firm has a market capitalization of C$5.34 billion and a P/E ratio of 4.97. The stock's fifty day moving average price is C$7.58.
Veren Announces Dividend
The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, April 1st. Shareholders of record on Tuesday, April 1st will be paid a dividend of $0.115 per share. This represents a $0.46 dividend on an annualized basis and a yield of 5.28%. The ex-dividend date of this dividend is Friday, March 14th.
About Veren
(
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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.
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