Veren (TSE:VRN) Shares Up 15.7% - Time to Buy?

Veren Inc. (TSE:VRN - Get Free Report)'s share price rose 15.7% during trading on Monday . The company traded as high as C$8.39 and last traded at C$8.17. Approximately 19,597,803 shares traded hands during trading, an increase of 338% from the average daily volume of 4,470,405 shares. The stock had previously closed at C$7.06.

Analysts Set New Price Targets

VRN has been the subject of a number of research analyst reports. Desjardins cut Veren from a "buy" rating to a "tender" rating and lifted their price target for the stock from C$11.00 to C$12.60 in a report on Tuesday. National Bankshares boosted 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. ATB Capital reduced their price objective on Veren from C$11.00 to C$9.50 in a report on Tuesday. CIBC reduced their price objective on Veren from C$13.00 to C$12.50 in a report on Friday, January 17th. Finally, Royal Bank of Canada reduced their price objective on Veren from C$10.00 to C$9.75 and set an "outperform" rating for the company in a report on Tuesday. Six analysts have rated the stock with a buy rating and one has issued a strong buy rating to the company. According to MarketBeat, the stock presently has an average rating of "Buy" and an average target price of C$11.74.

Veren Stock Up 2.1 %

The company's 50-day moving average is C$7.58. The firm has a market cap of C$5.34 billion and a P/E ratio of 4.97.

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 given a dividend of $0.115 per share. The ex-dividend date of this dividend is Friday, March 14th. This represents a $0.46 annualized dividend and a yield of 5.28%.

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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.