Veren Inc. (TSE:VRN - Get Free Report) shares shot up 16.3% during mid-day trading on Monday . The company traded as high as C$8.39 and last traded at C$8.21. 14,841,724 shares traded hands during trading, an increase of 244% from the average session volume of 4,314,159 shares. The stock had previously closed at C$7.06.
Wall Street Analyst Weigh In
VRN has been the topic of a number of recent analyst reports. CIBC reduced their target price on Veren from C$13.00 to C$12.50 in a research note on Friday, January 17th. Royal Bank of Canada dropped their target price on shares of Veren from C$10.00 to C$9.75 and set an "outperform" rating on the stock in a research note on Tuesday. ATB Capital lowered their price target on Veren from C$11.00 to C$9.50 in a report on Tuesday. National Bankshares raised their price objective on Veren from C$12.50 to C$13.00 and gave the stock an "outperform" rating in a report on Thursday, January 30th. Finally, Desjardins cut Veren from a "buy" rating to a "tender" rating and upped their target price for the stock from C$11.00 to C$12.60 in a report on Tuesday. Six analysts have rated the stock with a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat.com, the stock presently has a consensus rating of "Buy" and a consensus target price of C$11.74.
View Our Latest Research Report on Veren
Veren Stock Performance
The stock has a market capitalization of C$5.34 billion and a P/E ratio of 4.97. The stock's 50-day moving average is C$7.58.
Veren Announces Dividend
The firm also recently declared a quarterly dividend, which will be paid on Tuesday, April 1st. Shareholders of record on Tuesday, April 1st will be issued a $0.115 dividend. This represents a $0.46 annualized dividend and a yield of 5.28%. The ex-dividend date of this dividend is Friday, March 14th.
Veren Company Profile
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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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