Veren Inc. (TSE:VRN - Get Free Report)'s share price was up 15.4% during mid-day trading on Monday . The stock traded as high as C$8.36 and last traded at C$8.15. Approximately 11,587,658 shares traded hands during mid-day trading, an increase of 172% from the average daily volume of 4,258,240 shares. The stock had previously closed at C$7.06.
Wall Street Analyst Weigh In
A number of research firms have recently commented on VRN. Royal Bank of Canada cut their price target on shares of Veren from C$10.00 to C$9.75 and set an "outperform" rating on the stock in a report on Tuesday. Desjardins downgraded Veren from a "buy" rating to a "tender" rating and increased their target price for the company from C$11.00 to C$12.60 in a research note on Tuesday. ATB Capital decreased their price target on Veren from C$11.00 to C$9.50 in a research note on Tuesday. CIBC dropped their price objective on Veren from C$13.00 to C$12.50 in a research report on Friday, January 17th. Finally, National Bankshares boosted their target price on Veren from C$12.50 to C$13.00 and gave the stock an "outperform" rating in a research report on Thursday, January 30th. Six investment analysts have rated the stock with a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat.com, the company currently has a consensus rating of "Buy" and an average target price of C$11.74.
Read Our Latest Research Report on Veren
Veren Stock Up 1.9 %
The firm has a market capitalization of C$5.33 billion and a price-to-earnings ratio of 4.95. The business's fifty day moving average is C$7.58.
Veren Announces Dividend
The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, April 1st. Stockholders of record on Tuesday, April 1st will be paid a $0.115 dividend. The ex-dividend date is Friday, March 14th. This represents a $0.46 annualized dividend and a dividend yield of 5.29%.
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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