Veren Inc. (TSE:VRN - Get Free Report) shot up 16% during trading on Tuesday . The stock 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.
Wall Street Analyst Weigh In
A number of brokerages have recently issued reports on VRN. CIBC dropped their price objective on shares of Veren from C$13.00 to C$12.50 in a research note on Friday, January 17th. National Bankshares raised 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. ATB Capital lowered their price target on Veren from C$11.00 to C$9.50 in a research report on Tuesday. Desjardins downgraded shares of Veren from a "buy" rating to a "tender" rating and boosted their target price for the company from C$11.00 to C$12.60 in a research note on Tuesday. Finally, 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 for the company in a research report on Tuesday. Six equities research analysts have rated the stock with a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat, the stock currently has a consensus rating of "Buy" and a consensus price target of C$11.74.
Get Our Latest Stock Analysis on VRN
Veren Stock Performance
The company has a market capitalization of C$5.37 billion and a P/E ratio of 4.99. The firm's 50-day moving average is C$7.58.
Veren Announces Dividend
The business also recently declared a quarterly dividend, which will be paid on Tuesday, April 1st. Stockholders of record on Tuesday, April 1st will be given a $0.115 dividend. This represents a $0.46 annualized dividend and a dividend yield of 5.25%. The ex-dividend date 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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