Veren Inc. (TSE:VRN - Get Free Report) shares shot up 16% during mid-day trading on Monday . 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.
Analyst Ratings Changes
Several research analysts have issued reports on VRN shares. Royal Bank of Canada decreased 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 research report on Tuesday. CIBC cut their price target on shares of Veren from C$13.00 to C$12.50 in a report on Friday, January 17th. National Bankshares raised their price objective on shares of Veren from C$12.50 to C$13.00 and gave the stock an "outperform" rating in a research note on Thursday, January 30th. 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, ATB Capital decreased their target price on Veren from C$11.00 to C$9.50 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's stock. According to MarketBeat.com, the company presently has a consensus rating of "Buy" and a consensus target price of C$11.74.
View Our Latest Report on VRN
Veren Stock Performance
The firm has a market capitalization of C$5.37 billion and a price-to-earnings ratio of 4.99. The firm's 50 day simple moving average is C$7.58.
Veren Dividend Announcement
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 issued a dividend of $0.115 per share. This represents a $0.46 dividend on an annualized basis 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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