Shares of Veren Inc. (TSE:VRN - Get Free Report) traded up 16% on Tuesday . The company traded as high as C$8.39 and last traded at C$8.19. 27,269,131 shares changed 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 Ratings Changes
Several research analysts have recently issued reports on the company. ATB Capital cut their price target on Veren from C$11.00 to C$9.50 in a research note on Tuesday. National Bankshares lifted their target price 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. Desjardins lowered shares of Veren from a "buy" rating to a "tender" rating and increased their price target for the company from C$11.00 to C$12.60 in a research report on Tuesday. CIBC cut their price objective on Veren from C$13.00 to C$12.50 in a research report on Friday, January 17th. Finally, Royal Bank of Canada lowered their target price on Veren from C$10.00 to C$9.75 and set an "outperform" rating on the stock in a report on Tuesday. Six research analysts have rated the stock with a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat.com, Veren presently has a consensus rating of "Buy" and an average target price of C$11.74.
View Our Latest Research Report on VRN
Veren Trading Up 1.4 %
The company's 50-day simple moving average is C$7.58. The firm has a market capitalization of C$5.37 billion and a price-to-earnings ratio of 4.99.
Veren Announces Dividend
The business also recently declared a quarterly dividend, which will be paid on Tuesday, April 1st. Investors 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 yield of 5.25%. 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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