Veren (TSE:VRN) Trading Up 16% - Time to Buy?

Veren Inc. (TSE:VRN - Get Free Report)'s share price traded up 16% on Monday . The stock traded as high as C$8.39 and last traded at C$8.19. 27,269,131 shares traded hands during mid-day trading, an increase of 486% from the average session volume of 4,652,672 shares. The stock had previously closed at C$7.06.

Analyst Upgrades and Downgrades

A number of equities research analysts have commented on the company. National Bankshares raised their price target on Veren from C$12.50 to C$13.00 and gave the company an "outperform" rating in a report on Thursday, January 30th. Desjardins downgraded shares of Veren from a "buy" rating to a "tender" rating and boosted their target price for the stock from C$11.00 to C$12.60 in a report on Tuesday. CIBC cut their target price on shares of Veren from C$13.00 to C$12.50 in a research note on Friday, January 17th. ATB Capital decreased their price target on shares of Veren from C$11.00 to C$9.50 in a research note on Tuesday. Finally, Royal Bank of Canada cut their price objective on Veren from C$10.00 to C$9.75 and set an "outperform" rating for the company in a research report on Tuesday. Six analysts have rated the stock with a buy rating and one has assigned a strong buy rating to the company's stock. According to MarketBeat, Veren currently has an average rating of "Buy" and an average target price of C$11.74.

Veren Trading Up 3.4 %

The business has a 50-day moving average price of C$7.53. The company has a market cap of C$5.35 billion and a P/E ratio of 4.98.

Veren Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Tuesday, April 1st. Stockholders of record on Tuesday, April 1st will be given a dividend of $0.115 per share. This represents a $0.46 annualized dividend and a dividend yield of 5.26%. The ex-dividend date of this dividend is Friday, March 14th.

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Veren Company Profile

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.